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This article was written by one of the victims in response to the appalling comments made by Madam Hamilius in Wort magazine last month. We would have expected her to act in a dignified and professional manner as befits her role as Administrator of the Landsbanki Luxembourg Bank in administration and not in the way she did.

As a group we served papers on the authorities in Luxembourg last month requesting that she be removed from her role as Administrator as a result of court actions in both France and Spain. To date she has seen fit to ignore this request. We believe that in time she will have no alternative than to comply.

“Sipping Rosé in the Sun”

From Michael Equity

I could not believe the words coming out of the mouth of the Ice Maiden of Luxembourg in her recent interview with WORT. How much longer must the citizens of Luxembourg and the victims of the failed Landsbanki Luxembourg have to suffer these lies, distortions and manipulation of the facts?

Yvette Hamilius is now attacking our life styles and accusing us of irresponsibility to our children. Enough Hamilius, you have now gone too far.

The majority of us are retired pensioners who decided to spend our last few years in the sun in Spain or Southern France. We do not claim social benefits, health care services, unemployment benefits, housing benefits or indeed any other European Government hand outs that we may be entitled to and rely on our pensions for existence.

It was primarily concern for our children that we got sucked into this Equity Release scam in the first place, peddled by the very crooks that Hamilius is now doing her best to protect.

It was out of concern for the punitive Inheritance Tax regulations that would have left our children unable to afford the taxes levied and therefore unable to claim their inheritance, which persuaded us to enter this fraudulent scam as a “legal” way of avoiding the tax liability.

Hamilius claims that she now has the heart breaking task of managing the concerns of the children of deceased victims, because of the selfish life style of their parents? How dare she, if it was not for her, this affair could have been settled years ago and we would still have 30 of our members alive and well and not dying prematurely because of the stress related problems that Hamilius has created.

Does she really want us to make public some of the tragic last moments of members passing, lying in bed, racked with pain and sobbing to their loved ones about their guilt for leaving them with the mess of Landsbanki and Hamilius unresolved?

Yvette, if you really want to go down this route, we are ready to play this game and expose your comments for what they are, untrue, petty and spiteful.

Michael Equity


4th February 2014


“Sigurjón Árnason, the ex Landsbanki CEO who was Indicted by Icelandic Attorney general Olafur Hauksson, on 31/01/2014 was:

1. The ex Landsbanki CEO and Board director of Landbsbanki Luxembourg along with Elin Sigfusdottir

2. The author of this AVENS mess, and the infamous ICESAVE scam and yet was a LECTURER at the Reykjavik University teaching first years BS students all about financial ENGINEERING! .”

Landsbanki was using Icelandic government bonds as collateral for Euro discount window loans from ECB via the LUXEMBOURG CENTRAL BANK. (One can recall the ECB being annoyed about that trick. !)

The discount window facility is strictly for EURO-based banks.

Landsbanki was using its offshore subsidiary LANDSBANKI LUXEMBOURG to access the window and then route the money out of the Euro area, wasn’t it?

Surely Yvette Hamilius knew this was naughty when she was being ‘so helpful’ over the AVENS dodgy number?

What about YVES MERSCH?
Was he too, taken in by the usual HAMILIUS “NO PROBLEM” mantra?

Perhaps the Icelandic state unwinding took this AVENS
deal for two reasons.

1. First, it was their bonds used as security.

2. Secondly, it would ease their relationship with the ECB. European Central Bank and CLAUDE TRICHET,
who had been angry and had not agreed about the CENTRAL BANK of LUXEMBOURG BCL, giving the already insolvent LANDSBANKI LUXEMBOURG S.A.a loan, as it could later be proved to have been illegal/abusive.

After all, it is illegal to give such a loan to an insolvent bank especially in a period of utmost financial turmoil and against the insolvency rules which Yvette Hamilius is so familiar with.
It was reckless and abusive for a Bank, especially a Central bank to lend to an insolvent company and so artificially retard the official declaration of insolvency as would seem was the case for Landsbanki Luxembourg S.A., wasn’t it?

3. a.) Perhaps the ECB EUROPEAN CENTRAL BANK, had hinted that they wouldn’t look favourably on Iceland if they took a step to repair some of the LANDSBANKI damage?

b.) Also, from the ECB point of view they want to get hold of as much EUROS as possible as the FX market was not great at that time?

The AVENS bond, started by LANDSBANKI, was issued by AVENS B.V. in Holland

The AVENS bond was used for COLLATERAL

This was via the discount window in the EUROSYSTEM. ( or standing facilities)

In other words, LANDSBANKI LUXEMBOURG was using this to borrow EUROS with bonds based on bonds issued by Icelandic government.

( see article in ICENEWS, “Central Bank of Iceland (CBI) buy back KRONA BONDS back from LUXEMBOURG)

We should perhaps look closely today, in view of the ongoing proceedings Mrs Hamilius and Karin Guillaume have chosen to ignore, at just why the Governor OF THE BCL CENTRAL BANK OF LUXEMBOURG, his Luxembourg colleagues including Luc Frieden and of course the liquidator of Landsbanki Luxembourg S.A. , Mrs. YVETTE HAMILIUS , were so profusely thanked
“ for their considerable efforts in leading this issue to a successful conclusion. “

Surely there are serious problems in all this “engineering” enabled by Mrs HAMILIUS?

YVES MERSCH, Governor of the BCL, signed the agreement in Luxembourg 18 May 2010


19 May 2010. Tags: Central Bank of Iceland, Iceland Luxembourg .

The Central Bank of Iceland, on behalf of itself and the National Treasury of Iceland, has concluded an agreement with the Banque Centrale du Luxembourg (BCL)
and the liquidator YVETTE HAMILIUS, of Landsbanki Luxembourg S.A., concerning the purchase of 98% of outstanding AVENS B.V. bonds.

(Central Bank of Iceland press release)
The AVENS bonds were owned by Landsbanki Luxembourg S.A. and pledged to BCL as collateral for a liquidity facility provided in 2008.

Landsbanki Luxembourg S.A. is a subsidiary of Landsbanki Íslands hf.

According to the agreement, the Central Bank of Iceland will gain full control over the assets of AVENS B.V., which is the largest single owner of króna-denominated assets outside Iceland, with ISK holdings amounting to around 120, or one-fourth of all króna-denominated assets owned by non-residents.

About one-third of this amount is in bank deposits, while the remaining two-thirds are in bonds issued by the Treasury or with a Treasury guarantee.

The Central Bank of Iceland will remit a large portion of the purchase price with a 15-year


The bond in question is an amortisation bond bearing variable interest based on EURIBOR rates plus a premium aligned with the terms offered by the Nordic countries to Iceland.

No decision has been taken on the disposal of AVENS B.V.’s assets.

The assets will be administered by ESÍ ehf. (the Asset Holding Company of the Central Bank of Iceland), as is the case with other assets and claims that have reverted to the Treasury and the Central Bank in the wake of the banking collapse.

Már Guðmundsson, Governor of the Central Bank of Iceland, and YVES MERSCH , Governor of the BCL, signed the agreement in Luxembourg yesterday.

On this occasion, Governor Már Guðmundsson said,

“This agreement is an important milestone in the settlement following the collapse of the Icelandic banks.
It will reduce the Icelandic economy’s external debt by more than 3,5% og GDP and will reduce non-resident ISK holdings by nearly one-fourth, or about 8% of GDP.

This agreement is an important premise for capital account liberalisation in Iceland.

I would like to thank Governor YVES MERSCH and his colleagues, and the liquidator of Landsbanki Luxembourg, Mrs. YVETTE HAMILIUS for their considerable efforts in leading this issue to a successful conclusion.

The friendship and constructive spirit expressed by Governor MERSCH throughout this process helps to overcome some of the problems created by the collapse of Icelandic banks during the financial crisis and lays a sound foundation for the continued good co-operation between

Banque Centrale du Luxembourg and the Central Bank of Iceland.”


We publish here an open letter to Madam Hamilius, the Administrator of the Landsbanki Lu Bank from one of our victims. Madam Hamilius is obviously a fully qualified lawyer and probably also an accountant. She is therefore fully aware of the rules regarding a liquidation of a company so we ask “Why was there no open investigation into the fraudulent activities of this bank prior to their collapse by her”. We believe that had that been done then the present situation with the victims would not have arisen.

Name of victim withheld for obvious reasons.

Dear Maitre Hamilius

We are in receipt of your AR letter dated January 10th 2014.

We would refer you to all our previous letters when we clearly state that we do not consider that we are responsible for this outstanding amount. We reiterate that we consider that we were the victims of a scam committed by Landsbanki Bank Luxembourg, it’s officers and it’s intermediaries.

Whilst writing we would also draw to your attention the fact that you are claiming amounts from us that apart from being ficticious come with no detail as to how you have arrived at the sums involved. It appears that you have just plucked these figures out of thin air. It is also notable that you have increased this said sum in eighteen months from 274,454.82 Euro to 661,714.46 Euro.

We also reiterate our demand that you, as administrator in this liquidation, actively collaborate in the search for the perpetrators of these crimes and to provide effective assistance to the victims of this behaviour. To date you appear to have failed to carry out these basic legal requirements of an administrator and as a result have considered that we are debtors when in fact we should be considered as creditors of the bank. We believe that it is your duty to have investigated the history of the selling of this illegal scheme within Europe.

There has also been a misapprehension that the victims of this scheme were wealthy individuals when in fact with perhaps a few exceptions and with some research it would have become quite clear that nothing could have been further from the truth. The greater majority are retired couples who have fallen victim to a scheme offering them a secured means of additional income with no risk attached, as all the sales literature from Landsbanki Luxembourg stated. You cannot seriously consider that we as individuals would have knowingly entered into a scheme that was of such a high risk that we would eventually lose our homes and all our life savings.”

We also consider that you as administrator of the Landsbanki Lu estate should at the beginning of the administration have taken all steps to protect our investments with the bank. The bank that was handling all our assets. We understand that as an Administrator it is a legal requirement to ensure that clients funds are protected which would include closing any open positions on the market. You failed to do this and left us with an exposure to currency fluctuations for over 18 months. The result of this was that we were subject to enormous loss for which you are now holding us responsible. I would suggest that this is your responsibility. It surely did not need 18 months to correct this situation.






This is an open letter for all to see and better understand this site

and its’ contents.


Dear Reader – and welcome to anyone in the Luxembourg establishment

reading this


A quote from Martin Luther King –

‘He who passively accepts evil is as much involved

in it as he who helps to perpetrate it.

He who accepts evil without protesting against it is really

co-operating with it.’


Martin Luther King fought for justice against the abuses and injustices

perpetrated by the powerful politicians making victims of citizens who

by their own weakness could not fight back.  Luther gathered these

victims and systematically changed a system that had run amock and which

had ignored the very human rights EVERYONE is entitled to in a democratic

society.  This is why so many countries and powerful politicians, including

JF Kennedy, backed his campaign – and the persistence of the followers

and supporters paid off.


His other famous quote is

‘I have a dream………..’,

and his dream came true………


Other quotes.  This time from Nelson Mandela –

‘I learned that courage was not the absence of fear but the truimph

over it. The brave man is not he who does not feel afraid, but

he who conquers fear’

He eventually got justice and freedom through his fight


‘After climbing a great hill, one only finds that there are many

more hills to climb’

(all too familiar?)


‘a good head and a good heart are always a formidable combination..’

(Christmas Eve ‘goodwill’ message, perhaps?) However, one needs

both in that combination to wear the badge of wisdom and honour

And, lastly

‘Never, never, and never again shall it be that this beautiful land

will again experience oppression of one by another’

(note: ‘oppression’ = ‘not listening and suppressing the truth’),,


The persistence of these two celebrated and altruistically motivated men

gives the victims courage and hope in their desire to get justice because

you, the establishment in Luxembourg, know things are not correct nor

above board in your camp.


Otherwise, why would you fight so ferociously denying anything is wrong?

What difference is there to refusing a lie detector test in a police

investigation, or refusing a breath test because the officer suspects you

have been drinking? If there is even a hint of any irregularties in the

bank’s activities which go against the EC2004 anti-money laundering

regulations, which specifically state that any suspicions must be reported

for them to be investigated, then why don’t you come clean? (Pun not



Why at the very least do you not investigate nor look into it?   Why not,

if you have nothing to hide?  You would then gain the respectability you

are craving for as a major player in Europe and, indeed, worldwide.

Why do you not follow Iceland’s lead instead of blaming them when

Luxembourg facilitated the running of the bank’s business in the first



The lessons to be learnt from these two great civil rights leaders is,

firstly, oppression and bullying eventually fail as these tactics only make

the fight against them all the more worth fighting for.  Look at the quote

from a mural in Belfast highlighting the ‘troubles’ –


‘Oppression breeds resistence: Resistence brings freedom’


And, secondly, historically corruption and lies are eventually uncovered and

the truth finally exposed.  It may take time but nothing will deflect the

victims from getting justice because of political disposition.  Martin Luther

King himself said wisely –


‘Injustice anywhere is a threat to justice everywhere’


The moral of this article?  Being powerful does not mean you are or will be

winners.  Look at David and Goliath. In wars there are several battles and it

is the outcome that is important.  You might win the first battles but you

will never win this war in the end.  The world will eventually know how you

have sat back and ignored irregularities and left unanswered questions which

grossly needed to be addressed.


Curiousity as to why this furor in Luxembourg is happening and why the victims

are so incensed, will eventually attract many people to find out what on earth

is going on in Europe.  The question is, what does the EU stand for if the

principles of this Union are fragmented thus causing conflicts of interest and



This is not about a bunch of ‘old fogies’ who are ‘rich’and ‘on their last legs’

and who ‘do not want to pay what they have borrowed’ as you would wish the world

to believe.  How long are you going to keep up this propaganda?  You, who have

all the secret files on Landsbanki’s activities, are sitting on the truth.  Why

don’t you publish them if ‘everything in the file is in order’.  Your secrets

remain secrets because of your apathy but the victims will fight until honesty



A lie cannot live and the truth cannot be hidden behind laws that are engineered

to only work one way ignoring the very truth they are meant to protect.  Being

‘legal’ does not make things right.  Martin Luther also spoke on this subject –


‘Never forget that everything Hitler did in Germany was legal’


It is all too easy to be complacent about the fact that this fiasco will only

remain in the Luxembourg domain where you can control and doctor the story

whichever way you want and convince others who are not party to the full facts.

Read history: it takes a big man to admit his mistakes and make amends and it is

he who is respected; not the cowards who hide and assist the cover up hoping the

mistakes will never be noticed or discovered.  Another quote from Martin Luther –


‘the time is always right to do what is right’


You forget that in this day and age with fast and sophisticated communications,

these tools will facilitate the story going global and reaching the media far and

wide.  After all, they love a good story and the Little Red Riding Hood and the

Big Bad Wolf tale is popular even to this day because there is a moral to it –

the Big Bad Wolf is defeated in the end.  Banks have not had a particularly good

press recently and they and all their activities still remains topical, unpopular

even, so there will be many people interested in this story worldwide.


The point is that the more the victims are ignored and harassed the more it will

be shouted from the rooftops and their voices will eventually be heard further

and further afield.


When will you know that enough is enough………?



2nd January 2014

WE ARE SAD TO ANNOUNCE THE FIRST CASUALTY of Luxembourg’s ASTONISHING CHRISTMAS EVE declaration of war on Europe’s pensioners and it’s defiant refusal to respect the E.U. ruling of 2004.

Carlos Alberto de León Moralenas died on 28/12/2013 of a heart attack after hearing that the Luxembourg court had thrown out the Landsbanki case ignoring all the evidence of false accounting, fraud and possibilities of money laundering.

This was such a shock to Carlos over Christmas that he spent his last hours telling his only daughter, who was at his bedside in hospital, not to worry as there was so much evidence in his file of money which had been made to simply disappear from his account and which pointed to laundering through false accounting, that they would never take the house he had worked to leave his daughter.

This is how Carlos died.

Carlos died, in fear and anguish and feeling the humiliation he had at not being able to die leaving his daughter protected as he has struggled to do.

Carlos died asking himself how a country like Luxembourg could allow a woman such power over the lives of others that she can ignore not only the rules of E.U. but also all the most elementary rules of ethics, morality and teachings of whichever religion one cares to cite.

Carlos died asking his daughter to read to him any one of the articles, which have been written about Landsbanki Luxembourg in the press, as if it gave him the courage to continue his fight and to continue his life.

His life had become a Landsbanki Luxembourg nightmare.

Carlos died just 3 days after getting the shocking announcement from Luxembourg on Christmas Eve.

This makes 19 victims of the Luxembourg administration in it’s 6th year, to have died with the same anguish and fear in their last years under the inhumane, barbaric treatment by the appointed administrator, Mme. Yvette Hamilius hanging heavily over them in their last hours.

Luxembourg decided on Christmas Eve, to inflict the maximum pain and suffering on elderly pensioners of the European Union whilst arrogantly showing contempt for all the other countries in Europe including Iceland, all of whom have opened Criminal investigation proceedings against Landsbanki , with prison sentences and the largest caution in the history of France and fines being levied on this delinquent Luxembourg bank.

Whatever act of war and whatever E. U. rules Luxembourg thinks it is entitled to defy or abuse and however much the arrogant and negligent judiciary protects the criminals of financial crime and tries to intimidate us and our lawyers, we will not stop sounding the alarm in Europe.

Luxembourg’s intimidations, threats, harassment and disrespectful treatment of Courts, lawyers and the citizens of other countries will not stop us from sounding the alarm and warning Europe of the dangers of Luxembourg being similarly arrogant and disregarding rules and ethics as history shows have preceded world wars.

We are in an age of Financial Terrorism and Luxembourg is giving the clear message it has too much power already and is not willing to respect any rules.

We will not give up our fight for justice and until our last breath, as Carlos and the 18 others who have died did, we also ask ourselves how it is possible to allow one woman such power of destruction whilst she is given a free reign and protection to breach primary European rules over and over again.

The dark and threatening shadow of the appointed administrator, Mme Yvette Hamilius was hanging heavily over them as they died, but Justice will prevail and those responsible will pay dearly for this suffering that should have no place in a free democratic society.

Universal Justice will prevail and those responsible will pay dearly for this suffering that should have no place in a free democratic society.

We all offer our profound and heartfelt condolences to Sara and all Carlos’ family and say how sorry we are for the needless suffering and anguish he had to endure at the end of his life and on his last Christmas.

We would also like to say that the 18 other victims who died in this tragic way will never be forgotten and we prayed thought of them particularly this Christmas.


December 26th 2013


This is the time of the year when we particularly value and practice KINDNESS and GENEROSITY across the civilized world.

For many of us it is Christmas time, where even soldiers at war, as in December 1914, are capable of generosity and kindness one to another as shown when they held a Christmas truce in the muddy trenches.

These soldiers, good young men with precious families at home, showed that it was not they who sought evil and destruction of the lives of others, but those in powerful places who wanted more power at any cost.

The destruction of the lives of others and the destruction of the reputation of their country, means nothing to those who feed on greed and seek more and more power for themselves.

It is surely a good thing for us in Europe to reflect on at this time, especially when we see the extent of the damage that those in powerful places with greed for more, have done to the ordinary citizen who employ them.

Ordinary taxpayers expect the men and women they have voted for and whom they pay, to do an ethical, honest job and to respect certain codes of civilized, ethical behaviour which allows them in turn to be proud of their country.

In Europe, we turn our noses up at other countries in the third world who do not respect these codes of decent behaviour and who use intimidation, harassment and psychological torture to help them get their way.

In Europe, Politicians and members of a judiciary are employed to do an honest job in the best interests of their country and it’s citizens as well as in the wider community of the EU to which THEY CHOSE to belong and to respect codes of ethics and moral behaviour so that their positions of power over others, are not abusive.

Each country has a moral example to set, in order to keep ethics and moral standards high IN THE WIDER COMMUNITY.

In 1914 there was War. It is common, in close conflict marked by long periods of combat, that informal truce and generous gestures occur between enemies at Christmas. Similar events have happened throughout history.

Today there is a different form of aggression which is protected Financial Terrorism.

Today, where banks are allowed to do as they please and governments and judiciary turn the other way, pretending nothing is wrong and that there is no evil, they are doing exactly the same as in the terrible wars when each thinks they are justified in destroying other people’s lives, in order to further their power and satisfy their greed.

The people of the world do not want war.
The people of the world do not want Financial Terrorism.

This is not what the citizens who are paying them want. This is not what they want for their country or their families.

All religions respect KINDNESS and GENEROSITY.

At this special time of the year, more than ever, we take a few minutes to think of others, to help others, to give pleasure to others and we try harder to help those in distress.

We send greeting cards and visit the sick and elderly people to offer everything related to the most simple kindness.

We show solidarity to those who are in need and we try to comfort them which also comforts us because kindness makes our lives infinitely more pleasant.

Kindness and Respect for others helps the world become a better place where ethics and thinking of others, gives us rewards far outweighing those of wealth, power, fame or glory and political and judicial power .

Unfortunately today the kindness, honour and ethics aren’t valued and too often, people in power think “kindness” is a weakness and a sign of naiveté which they can exploit.

Wickedness, cowardice and abuse are even valued in societies where there is abuse of power and people who think they can dispose of ethics , respect and kindness and no one will stop them.

Wickedness is valued under the pretext that our economic and political system demands that they win at all costs at any price .

Those who should be setting a moral example keep their eyes firmly closed and have no sense of honour.

The sense of duty to Universal Justice which prevents us from destroying the lives of others and bringing unnecessary suffering to decent people who should be protected, does not exist for many people in powerful positions with a greed to win at all costs.

At this time of the year, with all our different religions and our struggles in life, we all know those amongst us, who grossly devalue kindness, generosity and respect for the rights of others.

We know who among us devalue justice, ethics, truth, and who believes that wickedness is acceptable.

We should all know that kindness is not a weakness or a naiveté.

Kindness makes people care about others.

Kindness is a strength as it helps people gather the courage they need to fight to protect the weak in our society, who cannot defend themselves properly and who are so often abused by selfish people who feel power gives them special rights over the lives of others.

Kindness makes us care and to try to ensure that justice is not corrupt, nor drowned by the conflict of interests so often practiced in the Political and Judicial world at the top of countries.

Our future world depends on us and our willingness to assert what is the basis of any religion around the world.




October 2013

We have just heard the sad news of the passing of one of our members, Robert. E. who died aged 69 from lung cancer. Robert, who resided on the Costa Blanca, is survived by his wife Paula.

This is now the 18th member of our group to die with the crimes of Landsbanki Luxembourg and the inhumane, barbaric treatment by the appointed administrator, Mme Yvette Hamilius hanging heavily over them.

Shame on them both. Justice will prevail and those responsible will pay dearly for this suffering that should have no place in a free democratic society.



Gross neglect and persecution of victims has led to terror and psychological torture of pensioners and others, leading to serious illness and death. This was CRUEL, UNNECESSARY and TRAGIC.

Following the sad announcement that we had lost yet another of our fellow victims, we decided to assemble a list of all those who are paying dearly with their health or lives and who have been fighting for justice from Luxembourg and the administrator for 5 years along with us all.

It is with regret that we have to inform you that 14 members of our group have died since the Landsbanki bankruptcy in 2008.
There are many others, also victims but outside this group, who have also died, such as John Armstrong, who will always be remembered with affection and respected for their courage.

Mrs T died on the 22nd July 2013, following the death of her husband in 2011. The anguish and stress of being under the threat of losing their home was too much for them both.
Mrs T. was desperate to resolve this matter whilst she was alive, but was not given the opportunity.
Mrs T. is survived by a 15 year old grandson who now is left with the problem and has been advised not to accept his inheritance.

Mr P has relocated permanently to the UK and is now in a care home due to the onset of Alzheimer’s aggravated by extreme stress. His daughter, Jenny, is now in contact with us for help and advise.

Mr and Mrs B. The psychological torture of being under the threat of losing the home they had worked so hard for, was also too much to bear for the B couple.
Mr and Mrs B divorced because of the pressure the Landsbanki Luxembourg failure put on their lives and Mr B was unable to cope with the Landsbanki situation, the lawyers and documents and became a chronic alcoholic.

Mrs. McC attempted suicide. The actions of the Landsbanki Luxembourg administration made Mrs McC feel that she was a total failure and this led to the serious depression.

With the help and support of her family, Mrs McC is now undergoing therapy and treatment for the severe depression brought on by the fear of losing her home and of seeing that the mis-selling and fraud in the Landsbanki Luxembourg bankruptcy was being completely ignored.

Sadly, others have not been able to withstand the enormous psychological pressures they have been put under in what should be the peaceful years of their lives and have also gone into severe depression, needing medication and there have been other suicide attempts.
This is why we must stick together and support each other.

Mr and Mrs McK have been forced to move out of their home and move back to the UK to be with their family as Mr McK had a stroke and has since been diagnosed with terminal cancer.
Mr McK’s wife has developed Alzheimers due to the intolerable stress to which she has been subjected.
This situation would never have arisen if they were allowed to settle this matter several years ago.

Mr D is 91 years old and is losing his sight, also his health is deteriorating. Mr D HAS ONE MAJOR WISH AND AMBITION.
He would like to get a satisfactory conclusion from Mme Hamilius to the Landsbanki Luxembourg bankruptcy before he dies. This failed administration has recked the last years of Mr D’s life and those of hundreds of others of victims.

Mrs O’s husband died in June 2012. She has been left to sort out the devastation caused by the failure of Landsbanki Luxembourg and the failure of the administration to examine any of the criminal allegations under Luxembourg supervision for 5 years and now she herself has health problems.

Mr A is terminally ill and in a hospice in the UK. He moved back to the UK a few years ago because he was so depressed with the Landsbanki Luxembourg winding-up and wanted to move as far away as possible from this unbearable situation. Despite this move, the strain has led to terminal illness.

Mr O has lung cancer – diagnosed in November 2012. He is very ill and the doctors warn cancer patients about the damage excessive stress can have on treatment. It is however difficult for a person who has been under the threat of losing their home for 5 years, not to be under excessive and damaging stress.

This list continues in a later comment as the scandal of the Failure of the Landsbanki Luxembourg administration and the devastating effect it is having on hundreds of victims can no longer be kept in silence.
Luxembourg must take responsibility for the fact that many of these tragedies could have been avoided had the administrator acted in a proper manner and done her first duty as administrator making it her PRIORITY, as required, to examine the legality of the failed product and the Criminal allegations made by hundreds of victims for 5 years, which have been ignored.


Please read this incredibly moving story about a couple caught up in the midst of this absolute mess, a story perhaps not that different to most victims of this MADOFF style scam.

 My name is Georgiana, and I am one of the daughters of Landsbanki victims in France. My brother and sisters have been through hell for all these years  as we watched our 77 year old step father who does not know how to use a mobile phone nor a computer, who doesn’t speak French, struggle to protect our mother and their home with bailiffs telling them if they did not let them in to measure the rooms and do all the asbestos checks etc. they would call the police and break down the gate and force the door.

This has been going on since 2009 and my mother now has a serious heart problem and my step father has just got out of hospital .  How many have died from stress-related illness?

I know none of this is of legal interest but our mother now refuses to leave the house without someone in it and so they take turns to do the shopping as she fears the Bailiff.  They don’t know where to turn and the lawyer does not understand them and they don’t understand the lawyer.

We have had to make sure they had someone with them who speaks French and could understand the complexity of this case and it’s documents each time they have gone to see the lawyer and of course they cannot afford the lawyer so we have been paying for them.

This is very humiliating for them as they took this loan as the Landsbanki director told them it would enable them to have an income to help us, their children whilst they were still alive.

In May 2008 they were sent an email with an ‘ AVIS DE RISQUÉ’ document they were told to sign but not to date!  So many of the dates are  completely wrong in the Landsbanki papers and their arguments are based on pure lies in so many cases one can’t believe a lawyer would stoop so low with elderly people.

In the documents it says they had signed not only the Risk document but had opened an account with Landsbanki BEFORE they had even been introduced to Landsbanki in  2007!

It also lies about the value of their assets, invents figures on Bank accounts to make it appear they were wealthy when they knew very well the only reason they were wanting a small loan was because they had been told they would have an income and all they had was a pension as income.

TO LIE to take possesion of  elderly people’s homes is just too evil for words and yet this is what is happening.

My parents have had the Bailiff ringing at the gate to deliver mail that had already been sent by registered mail many times over the years.  When we asked the lawyers why they were being put under such terrible stress for no reason, we were told that this lawyer chosen by Landsbanki is a ‘virulent specialist in seizing properties’ in the south of France and uses harassment as a tactic to get people to give up and pay!

Does this not show why victims, their families and friends all over the world are so disgusted by the treatment Luxembourg seems to find acceptable and want to be kept ‘confidential’, with all Criminal charges dropped which is what was being asked of them?

It is more shocking than we can put on any blog or any journalist can put in any article.

 Luxembourg may be clever with big business but it is not clever with decent human beings who should deserve respect and not abuse it seems?

This is the question that should be answered in Europe isn’t it?

 If there is something wrong with Luxembourg, is there not something wrong with Europe for not doing anything about this abuse of vulnerable people by those who  seem to wield too much power to respect the law in Europe?

 Thank you  for enabling a discussion like this on a site.

 It is so important to listen to what people have to say.  People can see they are not the only ones who are going through this  frightening nightmare which never ends as powerful people want to win, regardless of the consequences on decent people’s lives.


5 thoughts on “Members Area”

  1. Has anybody calculated the number of all victims? I get the impression that it is about 600. The “Selling Activity” of Landsbanki would suggest a much larger figure signed up; similarly the financial figures, such as the value of the fraudulent own-bond purchases using the “victims” money. Indeed my own sales representative, who suddenly diappeared in August 2008, gave me the impression that his golfing activities were constrained by his large client base!

    I suspect one of the reasons we do not get the Governmental Support of the various countries involved is a perception that such small numbers are not going to have an impact on the re-election of the MPs and EMPs!

    Is there any mechanism available to us to establish just how many Sales were made to unsuspecting victims. At the very least we must punch our weight.

  2. We were horrified when we saw all the lies the Landsbanki Lawyers told in their Defense documents for the Civil Court Judges.

    We have before us, a pile of documents showing very serious lies. These documents are being used to enable Landsbanki to win Civil Cases in order to seize homes of the victims of this mis-sold product and of fraud and manipulation.
    Landsbanki Lawyers have been putting lies into their documents, false information and using the same manipulation tacticts we have been victims of, as far as we can see.

    How can any lawyer blatantly lie to evict pensioners and auction their homes when any person taking a glance at the figures and dates in the Landsbanki fiasco can see there was fraud, manipulation of the Security Cover Ratio and that the wreckless Bank should not have been operating after mid- 2007.
    This is clear in the SIC Report and it is even more clear when you see that even Landsbanki WuB Winding up Board is attacking PwC Price Waterhouse Cooper for giving false accounting in order to make Landsbanki appear to be in better liquidity than it was during 2007, in spite of the ICESAVE cash cow as they had serious problems elsewhere .
    These other problems also explain why there was a mad rush to grab assets from Equity Release clients. This is why we were told such a PACK OF LIES. Landsbanki NEEDED TO SELL US THIS PRODUCT as they had to show the assets raked in from Equity Release clients to the Luxembourg Central Bank in order to get a loan, when in fact Landsbanki had already failed. The bank was on artificial respiration even though dead.
    Is this why so many dates are wrong on the Landsbanki documents and why the Fund managers regularly told us not to put the date as they would do that in Luxembourg?


    Ex-clients say, for instance :
    “We were told that if we did not sign the ‘risk clause’ sent at the end of May by email, we would not get any more transfers as they said we should have signed it at the notary’s but they would ‘fix it’ by putting the date in Luxembourg! They told us NOT TO DATE IT…..(of course they did….. the Bank had already gone down!)”

    It is written in Landsbanki documents used in Court and on the Contracts themselves that clients had opened an account with the Bank BEFORE the clients had even heard of the Bank!

    One case we have in the Group shows Landsbanki Lawyers claiming they had opened an account on the 2nd of July 2007 when the clients only heard of Landsbanki in Mid-July and their contract was not registered until 2008 and funds first made available in January 2008.

    One has to ask , how it is possible to open a Bank account in a Bank you have not been introduced to and have of course not signed a contract with?

    What is even more staggering is that Landsbanki Lawyers presented the Civil Court Judge with a document that must have had a false date which was used as a piece of court evidence! …
    Who wrote the false date on that document? Why didn’t Landsbanki Lawyers check the veracity of documents they were presenting in Court?
    The lawyer must surely have known it had to be false as the first contrat was signed 3 months after that false date and notarised 5 months later. There simply could not have been an account opened on the date they evidence in Court, could there?

    Other Landsbanki documents claim Loan Contracts were signed on dates when the clients were not even in the country. It seems Landsbanki just added dates randomly in Luxembourg!

    Another case shows the Landsbanki documents claiming clients had signed contrats on certain dates witnessed by Fund Managers when the clients were in the USA and the contract was in French. On the dates they claim the first contract was signed, they were in the USA and on the date they claimed the second contract was signed they were in the USA!
    Others were told bonds which were issued in 2003 were doing very well when in fact the bond had not existed before 2007. Others were told they had invested the money released for their personal use, which they were promised would not be put to any other use than for their personal use.
    At the same time in different documents, this is contradicted and it is claimed that this reserved sum had been put in a term deposit. The clients were told it was in a separate account for their personal use to be drawn down as required. The administrator says these clients invested their reserved money in risky ventures and lost it and yet she cannot show any proof of this nor accounting as they have mixed everything and ‘forgotten’ to put any dates. Everything is mixed together, without dates no investment orders and no proof of investment.

    The Landsbanki accounting is a disgrace to Luxembourg.

    Of course Landsbanki cannot produce any orders of any investments nor any proof that they were in fact made.

    This is why this case must be heard in European Courts. The future of Europe depends on the results of this case. This case is a European- wide Case.
    The targetting and systematic abuse of the elderly and the terrible treatment they have received for nearly 5 years, is a European disgrace.

    It seems those handling the Landsbanki mess feel confident Luxembourg will protect the Banker whatever the crime and this seems to be fuelling their callous disregard for the victims of this Bankruptcy and for their lawyers as well as other European Judges seeking to investigate Crime and see Justice is served, not just Bankers.

    Never has Luxembourg shown such disrespect for so many thoroughy decent law-abiding people, their families as well as highly respectable lawyers and Judges in Europe, in order to protect so few delinquent Bankers from a failed, wreckeless bank which used and abused Luxembourg as much as it did it’s victims.

  3. Well what a catalogue of deceit, but familiar in our own case. We were sold the scheme linked to the inhouse insurance company Lex Life. Landsbanki raised money on the markets against the value of 75% of our house and then invested it into their balanced portfolio.

    They advised us that this balanced fund had been started in 2003 and that it had performed at over 6% per annum from that date. What they FAILED to tell us was that the fund did not exist then and was not started until 2 months after we joined this fraudulent scheme in 2006.

    I am sorry but realistically I am sure that had we all been told the “truth” by the sales people then we would have all just walked away from this scam. After all I am sure that most of us are cautious people who were not prepared to take a gamble with our homes that had probably taken in most cases years of hard work and savings to acquire.

  4. I have noticed this week that Ernst and Young have announced that since as recent as January this year Luxembourg have been taken off the famous “Spanish Blacklist of Tax Havens”. Am I being paranoid or are deals being done at the highest level of Spanish politics and we are simply being used as a bargaining chips ?????

    Perhaps someone more qualified than me might have an opinion. This may be the reason Hamillius signs her letter to us with “Best Regards”.

    Regards, Roger.

  5. This is a similar reaction to events and opinion, sent in French as there are 150 victims in France. Things are moving in a very positive way in France as slowly but surely the Criminal acts and the extent of the cover-up is exposed.


    Aujourd’hui nous savons que CE SCANDALE NE SE PASSERAS PAS SOUS SILENCE!

    Les victimes de ces agissements criminelles et incorrects par Landsbanki, les victimes des manipulations de comptabilité afin de transformer des Créditeurs en Débiteurs et de saisir leurs maisons, les victimes de l’abus depuis 5 ans et la façon déplorable que des centaines de clients d’une banque Luxembourgeoise ont été traiter par l’administration de Landsbanki Luxembourg qui ont demander a Luxembourg de mener des investigations complètes afin que toute la vérité apparaisse dans ce scandale financier sans précédant, sont contents que aujourd’hui, enfin, le scandale est reconnu a Luxembourg et que la vérité et la transparence soit a l’ordre du jour.

    Ce scandale fait surface au même temps que des autres scandales a Luxembourg et aujourd’hui on voit la détermination de mettre en évidence ce qui a été mis de coté pendant des années. BRAVO!

    Cette scandaleuse affaire de la liquidation de Landsbanki, au coeur de l’ Europe a été trop longtemps négligé et ignoré et aujourd’hui les centaines de retraités , leurs familles et leurs amis, perdent leur patience et la colère monte avec chaque lettre recommandée et chaque visite de l’ huissier exigeant paiement des sommes manipulé , injustifiée que l’administrateur a REFUSER DE CORRIGER depuis des années, malgré les demandes des victimes qui étaient d’accord de rembourser la somme JUSTE , depuis des années suivi d’un refus systématique.

    Ce refus de corriger les manipulations de comptabilité dans la SCR, de rectifier tous les agissements non-contractuelles et le flagrant abus de la SCR qui a déclencher la demande immédiate des sommes entre 3 et 7 fois la somme prise de la banque et qui a immédiatement déclencher la saisie des maisons en France , est particulièrement choquant.

    Que tous ça se passe sous silence sans contrôle ou de supervision judiciaire a Luxembourg pendant si longtemps est inacceptable en Europe et ceci est en conflit avec les lois des consommateurs , le MiFed et les droits humains a notre avis.

    Comment quantifier La souffrance psychologique des centaines des retraités qui ont fait confiance au Luxembourg et qui se voit bafoués, ignorés et traités comme des criminelles et qui subissent l’horreur de la peur de perdre leurs maisons de famille qui sont le fruit d’ une vie de travaille?

    Comment quantifier cette peur?
    Comment quantifier l’humiliation ?
    Comment quantifier la souffrance des enfants et des petits enfants, des familles et amis qui regarde impuissants pendant que le Luxembourg ferme les yeux et prétend que ce n’est qu’ un problème Icelandais, quand les faits et les procédures criminelles a travers l’Europe prouvent le contraire?

    On constate une virulence démesuré envers certains clients surtout des clients qui était devenu clients de Landsbanki Luxembourg que depuis 2008 en FRANCE.

    1. Pourquoi cette acharnement a certains clients qui ont eu leurs prêts enregistrer aux hypothèques en 2008 quand la banque était déjà Insolvable? POURQUOI CETTE DISPARITÉ?

    2. Pourquoi avoir terroriser et abuser particulièrement ceux qui ont enregistrer leurs prêts que quelques mois avant la déclaration tardive de la faillite, quand Landsbanki était déjà insolvable et ils aurais du être interdit de fonctionner depuis 2007?

    3. Est- ce acceptable quand les contrats étaient d’ une durée de 20 ans?

    4. Est-ce que ça pourrai être la raison que les maisons ont été tous et partout a travers la France et l’Espagne, dévalués sans aucune expertise, a 60% de la valeur qui était souvent déjà une sous- estimation avant la rénovation des propriétés?

    5. Est ce que ça pourrais expliquer la dévaluation soudaine, sans logique ni expertise, de l’argent dans les comptes personnelles qui a disparu sans justification? ( Inutile de dire que l’administrateur n’as pas le droit de mettre fin au prêt si créditeur ).

    6. Est-ce-qu’ Il ne fallait pas la manipulation du SCR au même temps que la banque était finalement officiellement déclarer insolvent afin de convertir les Créditeurs en Débiteurs et récupérer leurs biens?

    Ces 3 manipulations et d’ autres encore, ont effectivement transformer des CRÉDITEURS en DÉBITEURS et a permis a Landsbanki Luxembourg de déclencher abusivement l’appel de fonds afin de pouvoir saisir les maisons et essayer d’extorquer entre 3 et 7 fois ce que les clients avaient en réalité pris de la banque.

    C’est certainement pour ces raisons que l’administration de Landsbanki Luxembourg est dénoncée et aussi parceque Landsbanki n’exécute pas ses obligations contractuelles .
    Nous sommes des victimes d’agissements incorrectes par Landsbanki lors de la liquidation et nous espérons que le Luxembourg puisse au plus vite mettre fin a cette souffrance et injustice envers des centaines de personnes dans les dernières précieuses années de leurs vie.

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