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Lenders Freeze Global Assets of Ex-CEOs


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Iceland’s failed Glitnir Bank hf and other lenders claiming they were stung by internal fraud during the financial crisis are winning U.K. court orders freezing the worldwide assets of ousted executives with ties to Britain.

Glitnir in May froze the assets of Jon Asgeir Johannesson, its former principal shareholder, and won a second court victory last week after he violated the order by paying bills.Kazakhstan’s BTA Bank, which defaulted on $12 billion of debt, and Intercontinental Bank Plc, the bailed-out Nigerian lender, won similar orders against former executives in the past year.

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GREAT!!! This is what we need to do! And I think we would be if our courts or our justice system were doing what it was designed to do but there are so many being paid to NOT do their jobs.

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