[1] The specialities of Askar Capital were corporate finance, real estate investments and debt management.
[2] In 2007 Askar Capital, part of the Milestone Nordic Financial Group, was granted a license to operate as an investment bank.
[3] Askar Capital was the only Icelandic bank to experience losses from structured investment vehicles originating in the United States.
[6] The verdict by the Supreme Court that foreign currency denominated loans were illegal had serious repercussions for the assets of the bank.
As the net worth was negative at least 10 billion ISK and restructuring was uncertain, the board did not consider it had a legitimate basis to continue.