This morning at a hearing in Luxembourg, the EFTA Court rejected all claims made by the EFTA Surveillance Authority against the Icelandic state in the Icesave dispute.
The EFTA Court ruled that Iceland should not be declared in breach of the law as claimed by the EFTA Surveillance Authority.
The Court rejected the claim that Iceland had breached the law or discriminated against depositors when it denied foreign depositors the right to withdraw their funds while Icelandic depositors were allowed to do so. If the EFTA court had ruled against Iceland, Holland and the UK court have pressed further charges against Iceland for up to 2.3 billion euros in damages.
The Court’s ruling does not however alter the fact that the Icelandic bank Landsbanki must continue to pay the UK and the Netherlands to reimburse the deposits both countries have covered since the collapse of the online savings account in October 2008.
This judgement, which concludes the procedures with the EFTA Surveillance Authority in regard to the Icesave case, is final and cannot be appealed.
[…] IceNews: Iceland cleared of all claims in Icesave dispute (28.1.13) […]
Weren’t the former directors, including the head of the investment arm, prosecuted? What is the position of those (10 or a dozen) who jumped ship and set up Matrix Group Investment Funds in London, and who now appear to have moved on again? Should they be prosecuted?
[…] SOURCE: ICE NEWS […]
LOL,
Surprising but its probably for the best. Most of the money has been paid back.
The whole world is watching Iceland!!! Finally, some justice from the crimes perpetrated by the international Banksters and corporations responsible for tanking our economies! Iceland is truly a model for hope for the citizens of many countries!
Well Done!
[…] Iceland cleared of all claims in Icesave dispute: Ice News […]
[…] The EFTA Court ruled that Iceland should not be declared Read more at IceNews – Daily News […]