Iceland Court Rules Kaupthing Executive Helgason to Repay Loan

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2013-05-01 23

An Icelandic court ruled that a former executive of failed lender Kaupthing Bank hf must repay loans given to him by the lender to buy its shares.

Ingolfur Helgason, the ex-head of Kaupthing’s Icelandic operations, is personally liable for the 1.1 billion-krona ($9.5 million) loan the bank extended to him for purchases, according to the ruling announced today by the Reykjavik District Court. ...

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