ATTORNEY AT LAW – PARTNER

Pétur earned his law degree from University of Iceland in 1994. Prior to joining LAGASTOÐ Pétur served as in-house counsel at Landsbanki Íslands hf. He was appointed Managing Director of LBI hf. in the Winding-up process that followed the insolvency of Landsbanki Íslands hf. The insolvency of Landsbanki Íslands hf. is one of the largest in history, with liabilities around USD 30 billion and estimated assets approximately USD 14 billion. Pétur was involved in the restructuring of LBI hf. where he together with LAGASTOÐ’s partners Guðmundur Óli Björgvinsson, Halldór Backman, and Kristinn Bjarnason oversaw LBI’s court proceedings and managed complex negotiations with LBI’s creditors that were finalised with a composition and a EUR 2 billion bond issuance. Pétur has also been involved in court proceedings and settlements of complex issues in respect of derivatives against major international banks.

Pétur’s main areas of practice are banking and finance, corporate and commercial law, regulatory and administrative law, resources and energy, and restructuring and liquidation. He provides advice on a wide range of financial transactions, including bilateral and syndicated loans, securities transactions, leveraged acquisitions, and project finance. Pétur’s substantial in-house experience makes it easy for him to consider his clients’ strategic commercial objectives and gives him the ability to bring an alternative angle to consider when resolving legal issues.

ADMISSIONS

• The Supreme Court of Iceland (2010)
• The Appeal Court
• The District Courts

EXPERIENCE

• Partner, LAGASTOÐ, 2020-
• Partner, Lögmannsstofan Quorum sf. 2016-19
• Managing Director, LBI hf., 2009-16
• Attorney at Law, Landsbanki Íslands hf., 2006-9
• Lawyer, Ministry of Industry and Business Affairs, 2003-6
• Nordic Investment Bank, 2002
• Attorney at Law, 1996-2001
• The Federation of Icelandic Fishing Vessel Owners, 1994-6

APPOINTMENTS

• Chairman of the Energy Appeals Committee, 2013-18
• Chairman of the Complaints Board for Goods and Services, 2012-16
• Chairman of the Depositors’ and Investors’ Guarantee Fund, 2004-6

ACADEMIC QUALIFICATIONS

• Stockholm University (MBA), 2003
• Unversity of Iceland, the Continuing Education Center, Exam in Securities Trading, 1998
• Unversity of Iceland, Faculty of Law (Cand.jur.), 1994
• Menntaskólinn í Reykjavík (Matriculation Exam), 1989

LANGUAGES

• English
• Swedish
• Danish