Ownership of Icelandic fishing company Bergur-Huginn left the Westmann Islands after owner Magnús Kristinsson and his family sold their entire shareholding to fishing company Síldarvinnslan (SVN).
Kristinsson said he had no option but to sell the company, which has been in his family’s ownership for 40 years.
The decision was taken to clear debts incurred due to purchasing shares in the now defunct Landsbanki prior to the 2008 financial crash when all three of Iceland’s main banks failed.
A colorful and well-known figure who has often been in the spotlight, he said he fought to keep the company, but eventually had no option but to sell, becoming one of the many victims of gross market manipulation that took place before the crash.
Bergur-Huginn
