Karen Millen, the businesswoman and designer behind the eponymous high street chain, is suing the Icelandic bank she believes caused her to lose everything.The designer is pursuing a number of legal claims against the estate of Kaupthing after it was revealed the bank was being investigated for fraudulent activity in the run up to the Icelandic banking crash in October 2008.
Kaupthing is accused of failing to admit it was in financial crisis in the months preceding the crash and engineering a cover-up to conceal mounting problems. They stand accused of hiding toxic investments and manipulating the market - allegations that the bank's estate denies.
Ms Millen met with Icelandic investigators in the UK earlier this month, who are examining the events which led up to the crash.
The value of the compensation sought by Ms Millen is in excess of £500m.
Before the Icelandic bank collapse, Ms Millen and her business partner - former husband Kevin Stanford - were flying high in the fashion industry, with interests in Oasis, Whistles, All Saints, House of Fraser, Ghost and Principles, as well as Karen Millen.
But when the Icelandic financial industry collapsed so comprehensively the two, who divorced in 2001 but maintained the commercial interests they had together, lost everything. Read More
