Iceland wins bank compensation case
The ruling means the nation won’t have to pay damages claims of as much as 335bn kronur (€1.93bn) for customers who had money in the bank’s Icesave high-yield savings accounts.
The court for the European Free Trade Association, (EFTA) yesterday rejected all the arguments against Iceland, saying the country “has not failed to comply with the obligations” under European Economic Area law by failing to pay compensation to Icesave depositors in the Netherlands and Britain.
