Iceland’s Kaupthing Bank talking tough over debtors

kaupc3being“The Kaupthing Resolution Committee will chase the bank’s money wherever we have to, whether it has gone to offshore companies or not. It makes no difference who is holding the funds,” Says Johannes Runar Johannsson, a Supreme Court barrister and member of the Kaupthing Resolution Committee.

His comments follow revelations that the Bank is chasing British businessman Robert Tchenguiz through the British courts, claiming GBP 180 million it believes Tchenguiz withheld following the sale of Somerfield supermarkets.

The Bank is pursuing its former biggest customer through courts in London and Reykjavik with regard to funds held in the British Virgin Islands.

On a related topic, British Virgin Islands officials yesterday signed a co-operation pact with the Nordic countries at Iceland’s embassy in Copenhagen. A likely similar agreement with France and New Zealand could lead to the Islands being taken off the ‘grey list’ of un-cooperative tax havens.

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