The caretakers of failed lender Landsbanki Islands hf have filed about 60 separate lawsuits in an effort to reclaim 50 billion kronur ($401 million) from the bank’s former clients, RUV reported.

The lawsuits are aimed at rescinding early withdrawals made mostly by foreign financial institutions in before the collapse of Landsbanki in October 2008, reported the Reykjavik-based broadcaster.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik valdimarsson@bloomberg.net.

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net.