The Icelandic government has shelved its threat of legal action over the UK's freezing of Landsbanki assets using controversial anti-terror laws.
Iceland conceded there was "no probability" of its state being awarded compensation by a UK court after consulting a number of legal sources including the Icelandic Attorney General. Consequently, the Government of Iceland has dropped its politically-charged law suit 'at this stage' but still intends to 'examine exhaustively' other legal action. Its plans could still include dragging the UK to the European Court of Human Rights over the UK authorities' decision to use the Anti-Terrorism, Crime and Security Act against Landsbanki on 8 October last year. At the time, Brown slammed Icela...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
