Exmuppet.
Landisbank is not owned by Magnus. Magnus did own Avion Group. Avion Group then became Hf. Eimskipafélag Íslands. Islands is then split into the Shipping and Logistics, which is Eimskip, And Aviation services. The Aviation services division was sold off mid 2007. Magnus T stood down 4th Q 2007
http://www.eimskip.com/PortalData/1/...7_LQ_final.pdf
You also wrote "
think about it, its avion saying I will sell you back the company for more than it worth so our books look good and my sister company will lend you the money."
But KPMG said "KPMG’s resignation came after staff at XL arranged to delay the payment of invoices to Alpha Airports, an airline catering company. The delay flattered XL’s figures ahead of the flotation of its then parent company, Avion, on the Icelandic stock exchange.
XL Leisure ignored probe into ‘irregularities’ - Times Online
I do believe though that we will all know what did happen quite soon