Þá sér hann hvar Stígandi hleypr. 

He then sees where Stigandi leaps.

Hann krækir þegar króksvíðunni í kampinn á Skeggja ok dregr hann at sér. 

He at once hooks the bill in Skeggja's moustache and drags him to himself.

Vatn eitt var nærri þeim. 

A lake was near them.

Hann dregr Skeggja út í vatnit. 

He drags Skeggja out in the lake.

Fór þá svá sem vant var, at Stíganda tók eigi djúpara vatnit enn jafnsitt skóm. 

Then it so went as was difficult, that Stigandi didn't take the water deaper than equally-(to)-his shoes.

Skeggja var óhægt at koma sundlátum við þvíat krókrinn var fastr í kjaptinum, en þó kafaði hann svá næri fæti hans at hann beit af honum tána ina stærstu. 

Skeggja was uneasy to come with swimming movements because the bill was fast in his jaw, but yet he swam under water so near his feet (?), that he used a weapon of him the largest toes. (???)

Stígandi stakk ór honum bæði augun. 

Stigandi put out both his eyes. 

Ok sleppti hann honum síðan ok fáð hann þá eigi í burt af vatninu. 

And he then let him slip and he then didn't paint (can't be right, but that's the only thing I was able to find) him out of the lake.  (???)

Ok drukknaði hann þar.

And he drowned there.

Þeir Toppr ok Kampi sóttu báðir at Knúti. 

Toppr and Kampie both attacked Knuttr.

Þá kom Hörðr fram ór skóginum. 

Then Hordr arrived out of the woods.

Toppr sneri þegar í móti Herði ok hjó til hans öxi, en hann brá við stjölnum ok stökk úr munnin úr öxinni. 

Toppr turned at once against Herdr and struck at his axe (or "struck at him (with his) axe"?), but he quickly moved his rump and sprung from his mouth from the axe.  (???)

Hörðr hljóp þá at honum ok rak hann niðr fall mikit. 

Hordr then leapt at him and drove him down a great fall.

Settist síðan á hann ofan svá fast at brotnaði í honum hvert bein. 

He was set down so hard that it broke every bone in him. 

Eigi bitu vápn á Kampa. 

Weapons did not affect (literally, "bite") Kampa.

Knútr greip í kampa honum ok snaraði hann úr hálsliðinum.

Knutr seized him in fighting and twisted him out of his neck joint.

Sökktu þeir þeim niðr í vatnit. 

They sank them down in the lake.

Síðan fóru þeir heim í sæluhúsit ok bjuggust um. 

Then they went home to the hospice and encamped.

Hörðr lá við þilit öðru megin en Knútr öðru megin. 

Hordr lay by one side of the wainscot and Knutr the other side.

Stígandi lá í miðit. 

Stigandi lay in the middle.

En þegar er þeir váru nýsofnaðir þá lét Knútr illa í svefni; færði hann fætrna við þilinu. 

But at once when they were just asleep, then Knutr had a bad dream; he brought his feet against the wainscot.

Var þá ylgr komin í fang honum ok vildi bíta hann. 

Then a she-wolf had him in its and wanted to bite him.

En hann tók sterkliga í mót; hon færði kryppuna við þilinu en setti klærnar í bringu honum. 

But he offered great resistance; he brought his humps against the wainscot, but it set its claws in his chest.

Hörðr hrökk undan sviptingum þeira. 

Hordr drew back their tussle.

Setti hann kryppuna við timbrveggnum svá at hann brotnaði, ok komust þeir þar út. 

He set his humps against the wooden-wall so that he broke (it), and they arrived out there.

Stígandi krækti í huppinn á ylginni ok reif út ór henni garnirnar, en Hörðr hljóp á bak henni ok brotnaði þá í henni hryggrinn. 

Stigandi hooked into the she-wolf's hip

En svá hafði hon sett klærnar í bringu Knúti at berir skinu við bringuteinarnir. 

But she had so set her claws in Knutr's chest to bare his skin to the chest rails.

Þá var Hlégerðr þar komin. 

Then Hlegerdr had come there.

Knútr hjó til hennar, en hon varð at kráku ok fló upp. 

Knutr hacked at her, but she became a crow and flew away. (actually, all I could find was "flayed up," but that doesn't make sense).

Höggit kom á vænginn ok tók af henni vænginn. 

The blow landed on her wing and took off her wing.

Fló hon þá til norðrættar ok hvarf þeim skjótt.

She then flew to the north and was suddenly lost from sight to them.