Resolution Committee of the Icelandic Bank Glitnir - worldwide freezing order upheld

09 Jul 2010

Slaughter and May advised the Resolution Committee of the Icelandic bank, Glitnir, in successfully defeating an attempt by Jon Asgeir Johannesson, Glitnir's former principal shareholder, to lift the worldwide freezing order secured against his assets in support of a claim brought by Glitnir in Iceland (Slaughter and May advised in relation to the securing of the worldwide freezing order in May). Glitnir has also filed a US$2 billion claim for fraud against Johannesson and other former directors and shareholders in the New York courts. Slaughter and May has been advising the Glitnir Resolution Committee generally in relation to substantial and potentially fraudulent pre-insolvency transactions and the availability of cross-border recovery, interim freezing measures and asset tracing.

Contacts

Deborah Finkler (partner), Kate Douglas-Hamilton (associate), Jonathan Clark (associate), and Robert Brittain (associate)


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