IceNews 21 Oct 09: Kaupthing loses claim against British government

Category: Newspaper & Media Reports

The much-talked-about EUR 500 million from the Central Bank of Iceland to Kaupthing shortly before the latter bank collapsed did not (for the most part) go to the UK and into Kaupthing Singer & Friedlander. This is one of the findings of the High Court case in London brought by Kaupthing against the British government. It is interesting to note, according to Visir.is, that the court ruling implies that if the loan had been used to support KS&F, the fall of Kaupthing might have been avoided.

It is clear that the British government’s forced closure of Singer & Friedlander was the last nail in the Kaupthing coffin during the eventful first days of October last year. After this, the company was doomed. ...

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