Iceland Review 7 Mar 13: Sheiks Refuse to Bear Witness in Kaupþing Case

Sheik Mohammed Bin Khalifa Al-Thani of Qatar, his relative Sheik Sultan and British lawyer Simon Soutall all refused to bear witness in a case concerning Al-Thani’s acquisition of more than five percent of shares in Icelandic Kaupþing Bank shortly before it collapsed in autumn 2008, as stated at the hearing at Reykjavík District Court today.

Al-Thani’s defense lawyers demand that the principal proceedings be postponed. However, the judge concluded that the schedule for the principal proceedings to begin on April 11 should remain unchanged, reports.

New evidence was submitted at the court this morning, including transcripts of telephone conversations of Kaupthing’s employees in Luxembourg and the settlement agreement of Kaupþing’s winding-up committee with Al-Thani.


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