Icelandic court may drop some charges
Iceland's Supreme Court has three weeks to decide whether to drop eight of 40 remaining fraud charges against Baugur.
The legal arguments were submitted earlier this week, with Baugur's defence team protesting innocence to all charges.
Baugur chief executive Jón Ásgeir Jóhannesson claimed in a TV interview on Tuesday that the case was politically motivated. Speaking on the Icelandic National Broadcasting news programme Spotlight, Jóhannesson said the charges, which relate to transactions between his company Gaumur, his family and Baugur, were misinterpreted and had been poorly investigated.
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