Wikileaks makes the nightly television news in Iceland (Updated 2X)

Note: The Kaupthing report is no longer on wikileaks, but can be found here:

Leaked Kaupthing report is here (.pdf)

Since this story was published, the Kaupthing directors have changed their minds–they are no longer opposing the publication of the leaked information regarding who had gotten loans from the bank just before it collapsed.  Also note the UK Serious Fraud Office has launched an investigation, because of the information published on wikileaks…

Iceland court lifts gag order after public outrage
From Wikileaks
Tuesday August 4, 2009
Herdis Sigurgisdottir (Associated Press)

REYKJAVIK, Iceland – A court in Iceland lifted a gag order Tuesday that allowed Kaupthing Bank to prevent media coverage of a leaked file that discloses details of the bank’s weak position shortly before it collapsed in October.

The Reykjavik district magistrate lifted the order only hours after Kaupthing itself yielded to public pressure to stop pushing for the ban. The injunction had forbidden further coverage of a risk analysis report that had been leaked via the WikiLeaks whistleblower Web site.
******END UPDATE ****************

The attempt by the remnants of the collapsed Icelandic Bank Kaupthing to keep a lid on information about all the loan activity that lead up to their collapse, while predictable, is a lost cause. They should just give up.

First, from a practical standpoint, you can’t put the genie back in the bottle. What’s out is out.

Second, from a moral standpoint, it is obvious that it is wrong to supress this information.  The information Kaupthing is trying to supress is critical to an informed public debate regarding the bailout that is underway in Iceland.

It appears that there were a whole bunch of insider sweetheart loan deals, and many of those were with those related to the management of the Bank.  All those loan details are all out there now, after being posted on wikileaks.  So the bank, learning that there was going to be a broadcast news story about this, served the TV station with an injunction, preventing them from covering any of the details.

So, in a stroke of genius, the TV station just displayed the link to the wikileaks story, which also contains a link to the leaked report.

I have also downloaded a copy; find a link to it below.  You see, once information is out, it is out!  Enjoy!

wikileaks: 1,  corruption: 0

As covered at slashdot:

jon jonson writes

“Information from the collapsed Icelandic bank Kaupthing has been leaked to WikiLeaks, revealing billions in insider loans, and the bank has been working day and night to censor the information contained in the document. Last night at 6:55pm GMT, they served an injunction against the Icelandic National Broadcasting Service, five minutes before the 7pm news was due to be aired. The TV station just displayed the WikiLeaks URL instead. They’ve also injuncted Iceland’s national radio, banning all discussion about the contents of the document, and they are actively trying to censor the rest of the Icelandic media along with WikiLeaks.”

Here’s the update from wikileaks, listing many of the very questionable loans:


Within 24 hours of releasing the document, WikiLeaks received a legal threat from Kaupthing’s lawyers.

At 18:55 GMT, Iceland’s national broadcaster, RÚV, had its 19:00 nightly newscast enjoyed to prevent reporting the document. Instead RÚV showed a link to this page.

According to the popular Iceland Weather Report site, the injunction was ordered by the Reykjavík District Commissioner, one Rúnar Guðjónsson. As it happens, the son of the Reykjavík District Commissioner, Guðjón Rúnarsson, is head of the Icelandic Financial Services Association and one of the top spokesmen for the failed banks. Among other things, he has fought to have the state’s Housing Financing Fund [which supplies the general public with affordable mortgages] abolished so that the banks could have exclusive dibs on the mortgage market.

Another son of the District Commissioner is Frosti Reyr Rúnarsson, who just happens to be the former head of Kaupthing’s securities brokerage division and one of the recipients of Kaupthing’s infamous bullet loans.[1]

An article in Visir based on this document revealed that loans made to the core investors of Kaupthing [the brothers Ágúst and Lýður Guðmundsson], and companies owned by them, amounted to some ISK 300 billion [USD 2.3 bn / EUR 1.6 bn].

Robert Tchenguiz, a member of the board of Exista [owned by the brothers] received loans of some ISK 330 billion.

Ólafur Ólafsson, he who once flew in Elton John to perform at his birthday bash [and who is associated with shipping company Samskip], received a loan of some ISK 140 billion.

Companies associated with the Baugur family received a loan amounting to some ISK 320 billion at the current rate of exchange.

Companies and corporate groups covered:

* Exista Group hf.
* Exista – Exista hf.
* Exista – Bakkabrædur Holding BV
* Exista – Guro Leisure Ltd (Kaupthing Singer & Friedlander)
* Exista – Bakkabraedur Group (Kaupthing Luxembourg)
* Exista – Exista Sub Group (Kaupthing Luxembourg)
* Robert Tchenguiz
* Skuli Thorvaldsson
* Skuli Thorvaldsson (Kaupthing Luxembourg)
* Holt Investment Group Ltd.
* Kjalar
* Kjalar ­ Kjalar hf.
* Kjalar – Iceland Seafood International ehf.
* Kjalar – Samskip Holding B.V. and Samskip hf.
* Kjalar – Olafur Olafsson (Kaupthing Luxembourg)
* Gaumur Group
* Gaumur – Baugur Group hf., BG Equity 1 ehf., F-Capital ehf., BGE eignarhaldsfélag ehf. and Fjárfestingafélagið Gaumur ehf.
* Gaumur – 1998 ehf.
* Gaumur – Eignarhaldsfélagið ISP ehf.
* Gaumur – Hagar hf.
* Mosaic Fashions Ltd.
* Kevin G. Stanford
* Kevin G. Stanford (Kaupthing Luxembourg)
* Antonios Yerolemou (Kaupthing Luxembourg)
* Candy & Candy
* Project Abbey ­ Noho Square
* Candy & Candy (Kaupthing Singer & Friedlander)
* Landic Property
* Landic – Landic Property hf.
* Landic – 101 Skuggahverfi hf.
* Landic – Þyrping hf.
* Landic – AB113 ehf., AB106 ehf. and Akraland ehf.
* Skipti
* Skipti ­ Skipti hf.
* Skipti – Sirius IT Partner
* Stoðir
* Stoðir ­ Stoðir hf.
* Stoðir – Materia Invest ehf.
* Victoria Properties A/S (FIH)
* Michael Ashley & Sports World International (Kaupthing Singer & Friedlander)
* Haldor Topsøe A/S (FIH)
* Norvik
* Norvik – Smáragarður ehf.
* Norvik – Straumborg ehf.
* Norvik – JSC Norvik Banka
* Lagerinn
* Lagerinn Dutch Holding – JYSK group
* Lagerinn Dutch Holding – ILVA A/S
* Lagerinn – SMI ehf.
* Danielle/Limebrook
* Daniella/Limebrook – Bay Restaurant Holdings Limited
* Daniella/Limebrook – Town & City Pub Company Limited
* Saxhóll
* Saxbygg – Saxbygg ehf.
* Saxbygg – Saxbygg Invest ehf.
* Saxbygg – Saxhóll ehf.
* Greenland’s Home Rule (FIH)
* Danfoss A/S (FIH)
* Össur hf.
* Vincent Tchenguiz
* Vincent Tchenguiz – Pennyrock Limited
* Vincent Tchenguiz – Elsina Ltd (Kaupthing Singer & Friedlander)
* Managing Director Klaus Helmersen and St. Frederikslund Holding A/S (FIH)
* Kwintet AB (FIH)
* Alshair Fiyaz (Kaupthing Luxembourg)
* Foreningen ei invest european retail (FIH)
* Danish Crown AMBA (FIH)
* Nycomed A/S (FIH)
* REIM – Celsius European Holdings Sarl
* Gift fjárfestingafélag ehf.
* EjendomsSelskabet Norden I K/S (FIH)
* Vivian Imerman (Kaupthing Luxembourg)
* Christen Sveaas/Kistefos/AS Holding/Telecom Holding AS
* ST Aerospace Solutions (Europe) A/S (FIH)
* Kaupthing Capital Partners
* Kaupthing Capital Partners II Master, L.P. Incorporated (Kaupthing Luxembourg)
* KCP II ehf (Kaupthing Singer & Friedlander)
* Sjælsø Gruppen A/S (FIH)
* Alfesca
* Drög
* Drög – Íslenskir aðalverktakar hf.
* Drög – Drög ehf.
* Drög – Álftárós ehf.
* Drög – Ármannsfell ehf.
* Lornamead Acquisitions Ltd.
* Danske Fragtmænd A/S (FIH)
* A Heeschen & Associated Companies (Kaupthing Isle of Man)
* Proark A/S ­ Michael Kaa Andersen (FIH)
* Umtak ehf.
* Aalborg Industries Holding A/S (FIH)
* Teighmore Ltd & New London Bridge House (Kaupthing Singer & Friedlander)
* Samson
* Samson – Empennage Inc.
* Samson – Samson eignarhaldsfélag ehf.
* Samson – Rauðsvík ehf.
* DEUGE Deutsche Grundeigentum GmbH + Lundtoftegaard GmbH (FIH)
* Enic International Ltd (Kaupthing Singer & Friedlander)
* Gluma Holding A/S (FIH)
* Tækker Europa A/S (FIH)
* Guldborgsund Kommne (FIH)
* Bakkavör
* Bakkavör ­ Bakkavör Group hf.
* Bakkavör (London) Ltd.
* Arovit Acquisitions APS
* Mengus Stockholm A/S (FIH)
* Rolf Barfoed A/S (FIH)
* Samherji
* Samherji hf.
* Samherji – Snæfell ehf.
* Samherji – UK Fisheries Ltd.
* Samherji – Kaldbakur ehf.
* Giant Bidco (Booker Group plc)
* Toga Pty Ldt. (FIH)
* A-huset Invest A/S (FIH)
* EHI Fund Denmark II ApS (FIH)
* Chestnutbay (Asquith Nurseries)
* Newco Aep A/S ( Wrist Group A/S) (FIH)
* DSV Miljø Holding A/S (FIH)
* A. P. Møller-Mærsk A/S (FIH)
* Peter Shalson Connection (Kaupthing Singer & Friedlander)
* Chr. Hansen Holding A/S (FIH)
* Primera Travel Group hf.
* Thorkil Andersen Holding A/S (FIH)
* Eik Fasteignafélag ehf
* Sean Dunne Connection ­ DCD Builders, Zaskari Ltd (Kaupthing Singer & Friedlander)
* Saxo Bank A/S (FIH)
* A/S United Shipping & Trading (FIH)
* K/S Danske Immobilien (FIH)
* Eurotrust A/S (Kaupthing Luxembourg)
* Flexlink Holding AB
* Essex Invest Holding A/S and Peter Halvorsen (FIH)
* Serena Equity Ltd (Kaupthing Singer & Friedlander)
* Egill Agustsson (Kaupthing Luxembourg)
* Ölgerðin Egill Skallagrímsson Group ehf.
* Tower Gate Developments Ltd (Kaupthing Singer & Friedlander)
* IDdesign Holding A/S (FIH)
* Unity Investments (Kaupthing Luxembourg)
* Novozymes A/S (FIH)
* Hekla
* Hekla hf.
* Hekla – Hekla fasteignir ehf.
* Vífilfell
* Vífilfell – Vífilfell hf.
* Vífilfell – Sólstafir ehf.
* Arla Foods AMBA (FIH)
* NKT Holding A/S (FIH)
* Aarhuskarlshamn AB (FIH)
* Invent Farma ehf.
* GN Store Nord A/S (FIH)
* Ecco Sko A/S (FIH)
* Penninn
* Penninn – Penninn ehf.
* Penninn – Officeday Finland Oy
* Pandora Holding A/S (FIH)
* CD Group – AKER
* Steen Bryde ­ Bryde Gruppen ApS and I/S Strandvejen 56-58 (FIH)
* Bankside Holdings Ltd & Bullion Investments Ltd (Kaupthing Singer & Friedlander)
* Paigle Properties (Kaupthing Singer & Friedlander)
* Burgundy Sea Ltd (Kaupthing Singer & Friedlander)
* Kaupfélag Skagfirðinga
* KS – AB 57 ehf.
* KS – Fóðurblandan hf.
* KS – Fisk Seafood hf.
* KS – Kaupfélag Skagfirðinga
* Ferrosan A/S (FIH)
* BM Vallá
* BM Vallá – BM Vallá ehf.
* BM Vallá – Fasteignafélagið Ártún ehf.
* Graham Harris Connection (Kaupthing Singer & Friedlander)
* Carlsberg A/S (FIH)
* Wavin N.V. (FIH)
* Horst Gassmann (FIH)
* Steen Larsen /SL Nordic Holding ApS (FIH)
* Sund ehf.
* Dustin Group AB
* Framherji Group Sp/f
* Huscompagniet A/S (FIH)
* Felicitas Intressenter AB (FIH)
* DLG ­ Dansk Landbrugs Grovvareselskab AMBA (FIH)
* PWT Holding A/S (FIH)
* Sanitec OY (FIH)
* JM Danmark A/S (FIH)
* EBH-Fonden (FIH)
* Bleiksstaðir ehf.
* Flugstod Leifs Eirikssonar hf. (FLE)
* Lastas A/S (FIH)
* DLG Bidco Ltd (Kaupthing Singer & Friedlander)
* Interbuild ApS (FIH)
* KPC Holding A/S (FIH)
* Íslandsverktakar
* Íslandsverktakar – Mænir ehf.
* Íslandsverktakar – Athús ehf.
* Dansk AvisTryk A/S (FIH)
* Energi Randers Holding A/S (FIH)
* Københavns lufthavne A/S (FIH)
* Dong Energy A/S (FIH)
* EAV ehf. (Kaupthing Luxembourg)
* Fram Foods hf.
* Superfos A/S (FIH)
* Investea Holding A/S (FIH)
* Nordic Travel Holding AS (FIH)
* AKSO ehf. and Módelhús ehf.
* Filbert Pacific Ltd (Kaupthing Singer & Friedlander)
* Ashwell Property Group (Kaupthing Singer & Friedlander)

Leaked Kaupthing report is here (.pdf)

Wikileaks makes the nightly television news in Iceland (Updated 2X)

13 thoughts on “Wikileaks makes the nightly television news in Iceland (Updated 2X)

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