AMWatch

Iceland’s Stapi may appeal after court awards ex-Chief Executive EUR 188,000 in lost salary

Pension fund declares itself “disappointed” about a legal ruling that it should pay millions of Icelandic krónur to Kári Arnór Kárason — the chief executive who resigned early last year over his involvement in the Panama Papers scandal.

Pension fund Stapi, which is located in Akureyri in the far north of Iceland, has been ordered by a district court to pay its former chief executive Kári Arnór Kárason more than ISK 23 million (EUR 188,000) in accrued wages plus penalty interest on the sum and ISK 2 million in legal costs.

Kárason resigned from the pension fund in the spring of 2016, after his involvement in the Panama Papers scandal came to light.

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