Some of the fraud charges brought against six executives of Icelandic retail specialist Baugur, including its chief executive Jon Asgeir Johannesson, could be flawed, a judge has ruled.

The judge presiding over the case which is currently underway in Iceland has said that 18 of the 40 charges “may be flawed to the extent that rectification may not be possible in the course of proceedings”.

All six executives deny any wrongdoing.