Sá atburðr varð undir virkinu, þar sem ljósit hafði sézt um vetrinn áðr. 

That incident took place below the stronghold, where the light had been seen during the year before.

Þar var þá leir, er Hrafn var höggvinn, en um sumarit eftir var þar grænn völlr. 

Clay was then there, where Hrafn was beheaded, and during the next summer a green meadow was there. 

Þorvaldr lét höggva fót undan Sturlu Bárðarsyni ok Þórði Vífilssyni. 

Thorvaldr had a foot cut off from under Sturli Bardarson and Thordr Vifilson.

Þessir atburðir urðu annan dag viku í annarri viku langaföstu, átta nóttum eftir Matthíasmessu. 

These incidents took place another day of the week in the second week of Lent, 8 nights after St. Matthew's mass.

Þá rænti Þorvaldr bæinn á Eyri öllu lausafé, því er innan veggja var, vápnum ok klæðum, húsbúnaði, búsgagni ok mat. 

Then Thorvaldr robbed the farm at Eyri (of) all the movable property, that which was inside walls, weapons and clothes, house furniture, household utensiels and food.

Í því ráni tóku þeir sólarstein góðan ok kyrtil brúnaðan með búnaði. 

In that robbery they took a good lodestone and a brown tunic with ornaments.

Þá gripi hafði Guðmundr byskup átta ok gefit Hrafni. 

Bishop Gudmundr had owned those costly things and given to Hrafn.

Þeir tóku ferju eina, er kirkjan átti, ok báru þar á þann fjárhlut, er þeir ræntu. 

They took a large boat, which the church owned, and carried there that property, which they plundered.

Ok er þeir váru á braut farnir með skipit ok fjárhlutinn, þá fundu heimamenn á Eyri sólarsteininn þar, er þeir höfðu eykinn búit, því at þeir höfðu honum í brott kastat ok kölluðu vera hégetil. 

And when they were away with the ship and the property, then servants at Eyr found the lodestone there, when they had prepared a small ferry-boat, because they had thrown it away and they called is (?) flint.     (Not sure I 100% understand what CV says under  eikr: þar er þeir höfðu eykinn búit—ought to be read ‘eikjuna,’ vide eikja)

Svá ok kyrtilinn höfðu þeir eftir látit ok kölluðu vera vaðmálsslopp, ok eigi fengu þeir sét á búninginn. 

So also they had later called the tunic forsaken (?) and they called is a wadmal-gown, and they didn't get seen at the ornaments. (??)

Þenna atburð virðu menn svá, at því mætti þeir þessa gripi eigi í brott hafa, er Guðmundr byskup hafði átt. 

Men estimated this incident so: because they could not have this costly thing away, which Bishop Gudmundr had owned. (??)

Þat vár it sama fór Þorvaldr eftir páska í annat sinn í Arnarfjörð ok rænti þá marga þingmenn Hrafns. 

That same spring, Thorvaldr went after Easter a second time to Arnarfiord and then robbed many of Hrafn's Thing-men.

Pétr Bárðarson lét drepa þingmann Þorvalds, þann er Hermundr hét. 

Petr Bardarson had Thorvaldr's Thing-man killed, the one named Hermundr.

Sá hafði verit í andskotaflokki við Hrafn. 

That one had been in a band of enemies against Hrafn.

Þorvaldr sendi orð Kár munki Geirmundarsyni, at hann skyldi leita um sættir við frændr Hrafns. 

Thorvaldr sent word to friar Kar Giermundarson, that he should try to effect peace with Hrafn's relatives.

Þá var settr sáttarfundr þessa málaferla at ráði Þórðar Sturlusonar ok Kárs munks á Þingeyri í Dýrafirði. 

Then was set a peace-meeting (about) this litigation at the advice of Thordar Sturluson and friar Kar at the Eyr assembly in Dyrafirth.

Þá var sætzt á þessi mál á þann veg, at Þórðr Sturluson skyldi gera um þessi mál öll, þann veg sem hann vildi. 

Then this case was settled at that way: that Thordr Sturluson should do concerning this matter, that way as he wanted.

Tólf menn handsöluðu fyrir Þorvald fégjöld, svá sem Þórðr vildi gera, ok til þeirar sýknu Þorvalds, sem Þórðr vildi vera láta. 

Twelve men confirmed by shaking hands a fine for Thorvaldr, so as Thordr would want to make, and to their day on which lawsuits are permitted of Thorvaldr, as Thordr wanted to be set.