Helgi is born to King Sigmund of the Volsungs and Borghild. Hunding is the powerful king of Hunland who feuds with Sigmund. Helgi disguises himself to observe Hunding's court and on the way encounters a shepherd boy. Helgi tells the boy to let Hunding's son, Haeming, know that Helgi knows who was struck down in Haeming's byrnie. Helgi instructs the boy to inform Haeming that there is a wolf within the court: the man called Hamal, Hagal's son.
Helgi disguises himself as a woman in order to avoid detection by Hamal. However, he is discovered by a malicious man called Blind. Since the woman appears to have piercing eyes, a characteristic common to heroes, it is easy to uncover the peasant's true identity. Helgi escapes via a warship after killing.....
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