Two bankrupt companies connected to former business tycoons Jon Asgeir Johannesson, Palmi Haraldsson and Hannes Smarason have almost no assets at all, but owe over ISK 100 billion (USD 780 million).
Gaumur, owned by the so-called Bonus family (the best-known are Johannes Jonsson and his son Jon Asgeir Johannesson, who started the Bonus supermarket chain), owes [...]
Two bankrupt companies connected to former business tycoons Jon Asgeir Johannesson, Palmi Haraldsson and Hannes Smarason have almost no assets at all, but owe over ISK 100 billion (USD 780 million).
Gaumur, owned by the so-called Bonus family (the best-known are Johannes Jonsson and his son Jon Asgeir Johannesson, who started the Bonus supermarket chain), owes ISK 20 billion (USD 156.1 million). It once owned Baugur, which is itself now bankrupt.
Baugur Group owned Stodir, which used to be called FL Group. Stodir owned a company called Stytta, as well as the company Blackstar Limited in the Isle of Man.
Stytta was used as a sort of ghost company, according to RUV, and was used in the complicated business relationship between Jon Asgeir Johannesson, Palmi Haraldsson and Hannes Smarason where they sold the Sterling airline, a sizeable share of the UK’s Iceland supermarket chain and other businesses back and forth among themselves.
The assets of Stytta were almost nothing, but the estate of the company still has debts of ISK 100 billion, which creditors have little hope of ever seeing again. The biggest single creditor to the company is Old Landsbanki.
Another company, Solin Skin, was once registered to Baugur’s HQ in Reykjavik. The company is now bankrupt but was once used by Jon Asgeir and Palmi Haraldsson for all sorts of deals. Its debts amount to at least ISK 20 billion and its assets are extremely few.