Iceland hires London’s top law firm

Moon_Boi

A legal showdown between the Icelandic Government and HM Treasury looked likely today as it emerged that senior officials in Reykjavik have hired one of London’s top law firms.

http://business.timesonline.co.uk/tol/business/law/article5047254.ece

innovate

Funny they have money to pay a top London law firm for a case that could drag on for years, but not to pay their lawful dues to savers whose money they stole.

Neillgb

innovate wrote: »

Funny they have money to pay a top London law firm for a case that could drag on for years, but not to pay their lawful dues to savers whose money they stole.

Legal aid possibly!! . 'No win no fee.......':D

They are skint and everybody is entitled to legal representation.

nilrem_2

innovate wrote: »

Funny they have money to pay a top London law firm for a case that could drag on for years, but not to pay their lawful dues to savers whose money they stole.

I quite agree. They have a damn cheek IMHO after all the anxiety and trouble they have caused many UK savers. :mad:

fatpig_2

We should nuke them. They're really taking the pee now.

1echidna

I say let the Icelanders have their day in court to test if anything illegal has happened. Many here have slandered Iceland by saying their money was stolen whereas what happened is that a bank defaulted and a country is bankrupt, not in themselves criminal actions. If anything illegal did happen on either side it is as well for the sake of international relations that appropriate investigation and action is taken. One thing that could make the present crisis very much worse is if a lawless free for all in financial matters developed between nations, particularly for the UK which is highly dependent on income generated from financial services.

nilrem_2

1echidna wrote: »

Many here have slandered Iceland by saying their money was stolen whereas what happened is that a bank defaulted and a country is bankrupt, not in themselves criminal actions.

Not quite what happened though is it! Landsbanki are still operating in Iceland and Icelandic savers were able to access their accounts as usual, IMHO they are using our money, interpret it how you like but many people including myself felt that we had been mugged and robbed!

Tom_Jones

1echidna wrote: »

I say let the Icelanders have their day in court to test if anything illegal has happened. Many here have slandered Iceland by saying their money was stolen whereas what happened is that a bank defaulted and a country is bankrupt, not in themselves criminal actions. If anything illegal did happen on either side it is as well for the sake of international relations that appropriate investigation and action is taken. One thing that could make the present crisis very much worse is if a lawless free for all in financial matters developed between nations, particularly for the UK which is highly dependent on income generated from financial services.

If that's the case, can you lend me 100k, I will pay you back but if I go bankrupt then tough ti tty on you.

StarRover

1echidna wrote: »

I say let the Icelanders have their day in court to test if anything illegal has happened. Many here have slandered Iceland by saying their money was stolen whereas what happened is that a bank defaulted and a country is bankrupt, not in themselves criminal actions.

"If it looks like a duck, swims like a duck and quacks like a duck, then it probably is a duck".

tonytsdiver

Moon_Boi wrote: »

A legal showdown between the Icelandic Government and HM Treasury looked likely today as it emerged that senior officials in Reykjavik have hired one of London’s top law firms.

http://business.timesonline.co.uk/tol/business/law/article5047254.ece

Perhaps they have hired those famous City solicitors 'Catchem & Cheetem' ?

JayTee99_2

i suspect our govt will have a stronger case than Iceland when the time comes to take them to court, in an attempt to force them to settle their debts!

Only yesterday Haarde was quoted as saying “within two years or so we will have the economy back on a sustainable path”,

if only he could stop using stalling tactics and show similar enthusiasm and optimism in repaying UK savers and taxpayers!

Personally, i believe that international relations with Iceland are less important than debt settling, particularly so since some other European countries are in a similar position.

If good relations with Iceland means they might be launching further savings [strike]scams[/strike] schemes here in UK, then really, we're probably better off without them!