Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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1985
Hafskip affair
Hafskip's bankruptcy followed debt-heavy investment in new ships and was followed by the collapse of Útvegsbanki. Political scrutiny intensified because finance minister Albert Guðmundsson had been Hafskip's chairman and remained a shareholder. A roughly six-year criminal investigation led to 450 charges against several executives and the company's auditor. Björgólfur Guðmundsson was convicted on five minor bookkeeping offenses and received 12 months' probation.
1978
1978 Hafskip scandal
A separate Hafskip scandal is identified as having occurred in 1978. The available reference describes it as smaller than the later affair but does not state what happened or how it was resolved.