Investigation regarding Landsbanki in sight in Luxembourg
By overturning an earlier court decision an appeal court in Luxembourg now seeks to establish an investigation into “money laundering, fraud and criminal conspiracy.” Benjamin Bodig, lawyer for the Landsbanki victim group, says it “opens the door to discover the truth and could lead to its victims being recognised as aggrieved customers” according to an article in Wort.
In October it will be six years since Landsbanki collapsed. The Luxembourg clients, mostly elderly foreign pensioners owning property in Spain and France, who had taken out equity release loans from Landsbanki have now for years sought to have investigated how Landsbanki handled these loans and the investment that were part of the loans and also the actions of the liquidator, Mme Hamilius.
Special prosecutor in Iceland has already charged Landsbanki managers for market manipulation and breach of fiduciary duty. These charges are still being dealt with by Icelandic courts. In France there is now an investigation into the Landsbanki practices as well. From what I have seen regarding Landsbanki operations in Luxembourg there is good reason to investigate the bank’s operation, both before and after the collapse.
The actions against Landsbanki in France and Luxembourg would not have happened if it were not for the heroic attempts by the Landsbanki victim group to have these operations investigated. Their attempts in Luxembourg were met by remarkable lack of interest on behalf of the authorities, the height of which was when Robert Biever Procureur Général d’Etat, state prosecutor, sided openly with the liquidator, echoing her view that the Landsbanki Luxembourg clients raising concerns just did not want to repay their loans, as mentioned in an earlier Icelog.
As I have written earlier this “case has shown that when it comes to unified European financial sector it only works for banks, facilitating cross-border operations. For clients and consumer protection this sector has as many holes as a Swiss cheese. A food for thought: if cross-border operations only work for banks and not for clients they should not be allowed.”
Here are some earlier Icelogs on the remarkable story of this case that authorities in Luxembourg have ignored for so long.
Follow me on Twitter for running updates.
I was very pleased to search out this net-site.I needed to thanks for your time for this excellent learn!! I positively enjoying every little bit of it and I’ve you bookmarked to check out new stuff you blog post.
stephen curry shoes
23 Aug 23 at 9:01 am
I actually wanted to make a simple remark in order to say thanks to you for some of the fantastic points you are giving on this site. My prolonged internet look up has at the end been honored with good quality information to share with my best friends. I ‘d say that many of us visitors actually are undoubtedly fortunate to dwell in a decent network with many wonderful people with beneficial opinions. I feel somewhat grateful to have seen your entire webpages and look forward to plenty of more entertaining minutes reading here. Thank you once more for a lot of things.
off white hoodie
21 Nov 23 at 4:38 am
I precisely needed to thank you very much all over again. I am not sure the things that I might have made to happen in the absence of the advice contributed by you about my question. It truly was a very troublesome scenario for me, but considering this expert style you dealt with the issue forced me to weep for delight. Now i am grateful for your advice and then expect you realize what a great job that you are providing training men and women by way of a site. I know that you’ve never come across all of us.
supreme
18 Jan 24 at 2:59 am
I and also my guys appeared to be checking the excellent key points found on your web blog then at once developed a terrible feeling I had not thanked the blog owner for those strategies. Most of the people had been certainly very interested to see them and have now quite simply been having fun with these things. Many thanks for being so thoughtful and for using variety of notable resources most people are really desirous to learn about. My personal sincere regret for not saying thanks to you earlier.
bapesta shoes
20 Jan 24 at 6:01 am
I wanted to jot down a word to be able to appreciate you for those stunning tactics you are posting here. My considerable internet investigation has at the end been rewarded with useful information to go over with my relatives. I would assume that we visitors are unequivocally blessed to exist in a remarkable community with many marvellous individuals with valuable solutions. I feel pretty privileged to have seen the webpages and look forward to some more excellent minutes reading here. Thanks once again for all the details.
curry 6
21 Jan 24 at 8:18 am
I am only writing to let you know what a fine experience my wife’s daughter enjoyed going through the blog. She came to find a lot of details, which include what it’s like to have an awesome giving nature to have many more clearly comprehend selected complicated matters. You undoubtedly surpassed visitors’ desires. Thanks for distributing those good, trusted, informative as well as easy tips about the topic to Tanya.
supreme
22 Jan 24 at 11:39 am