KSFIOM NEWS

Iceland Review 13 Apr 12: PwC Sues Glitnir Bank Winding-Up Committee

Published: Friday, 13 April 2012

The legal representative of the auditing firm PricewaterhouseCoopers (PwC) has filed a charge for damages against the winding-up committee of Glitnir Bank because of the committee’s legal proceedings against PwC before New York courts in 2010 and 2011.

PwC is asking for ISK 82 million (USD 642,000, EUR 489,000) with interests and collection fees, Morgunblaðið reports.

Steinunn Guðbjartsdóttir, who chairs Glitnir’s winding-up committee, confirmed that they had received the charge and said the committee will take a position on it next week.

The winding-up committee’s case against PwC and others, which was known as the Glitnir Seven Case in the media, ended with dismissal by the judge who reasoned it should not be heard in New York.

Legal proceedings have continued in Iceland; Glitnir’s winding-up committee’s case against PwC opened in Iceland on April 12.

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