Iceland Tycoon to Sue Glitnir Winding-Up Committee Chair

Icelandic businessman Jón Ásgeir Jóhannesson, former CEO and chairman of Baugur Group, has decided to file a lawsuit against Steinunn Gudbjartsdóttir, chairwoman of the winding-up committee of Glitnir Bank, because of “her sworn lies before courts,” as he puts it in an article in Vidskiptabladid business weekly today.


Jón Ásgeir Jóhannesson. Copyright: Icelandic Photo Agency.

Jóhannesson refers to Gudbjartsdóttir’s sworn testimony where she claims that he, or his companies, may have deposits worth GBP 202 million (ISK 40 billion, USD 210 million, EUR 242 million) in British banks. CEO of Iceland Foods Malcom Walker has stated that these deposits are owned by Iceland, ruv.is reports.

Jóhannesson claims in the interview with Vidskiptabladid that Gudbjartsdóttir is trying to mislead the courts with her testimony. He also says that she lied about other items, such as that he hasn’t paid up his ski chalet in France and luxury apartments in New York. They have been paid and she knows that, Jóhannesson states.

He also denies claims that he tried to hide away his assets after the banking collapse. The Glitnir winding-up committee maintains that Jóhannesson registered his assets under his wife’s name after the collapse.

Jóhannesson’s assets in the UK are currently under a freeze order. The judge commented while announcing the ruling that many things are unclear regarding Jóhannesson’s finances.

The judge said it is hard to believe that the only assets Jóhannesson has left are worth approximately ISK 240 million (USD 1.9 million, EUR 1.5 million), given how much he has spent in the past few years.