Sigrún Davíðsdóttir's Icelog

Custody over two ex-Kaupthing managers

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The Reykjavik County Court has confirmed two weeks’ custody over Kaupthing’s ex-CEO Hreidar Mar Sigurdsson and the ex-manager of Kaupthing Luxembourg Magnus Gudmundsson, now manager of Banque Havilland. The owners of Banque Havilland, David and Jonathan Rowland through their investment company Blackfish Capital, are meeting in Luxembourg. They haven’t yet decided on what action, if any, will be taken against Gudmundsson.

Sigurdsson’s term in custody is 12 days, Gudmundson’s 7 days. Both have appealed the custody ruling. They will be kept in isolation, either in Reykjavik or in a prison ca. 45 km from Reykjavik.

It appears that the two, who both live in Luxembourg, were called in by the Office of the Special Prosecutor. This wasn’t the first time and neither of them expected to be detained. Sigurdsson met up yesterday morning. After lunch he was told he would be detained and that a custody was being sought.

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Written by Sigrún Davídsdóttir

May 7th, 2010 at 1:11 pm

Posted in Iceland

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