Sigrún Davíðsdóttir's Icelog

The Glitnir winding-up committee has obtained an international freezing order of Jon Asgeir Johannesson through a court in London. It means that Johannesson doesn’t have any access to any of his assets. Among them is the flat in New York, bought with a loan from Landsbanki. The rumour goes that Landsbanki didn’t ask for any collaterals against that loan. The price was $25m at the time. It seems that the flat, at 50 Gramercy Park, has been put twice on the market but hasn’t sold so far. Icelog has earlier mentioned the flat and Johannesson’s ownership.

Johannesson rose to fame in the UK business community through drastic buying into high street retailers such as House of Fraser and a long line of famous fashion shops such as Karen Millen, bundled together in his Mosaic Fashion, all under the ownership of his private equity company Baugur. There is a growing sense that at the core Johannesson’s operations there was extensive fraud.

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