Wiltshire Council recoups £1.5m from Landsbanki
- 10 October 2012
- From the section Wiltshire
Wiltshire Council has been paid back almost half of the money it invested in a collapsed Icelandic bank.
Landsbanki, in which the council had £3m when Iceland's banking system collapsed, has recently repaid £180,000, taking the total to over £1.5m.
In December 2011, the winding-up board of Landsbanki paid the council £952,000 and in June a further £383,650.
A council spokeswoman said the process may not be concluded for a few more years.
Jane Scott, leader of the authority, said: "I am very pleased the third payment from Landsbanki has been made to the council and brings our total repayments to more than £1.5 million.
"We will keep a close eye on the winding-up proceedings and will continue to update the public when we have news."
A total of £9m was invested in Icelandic banks by the then Wiltshire County Council and North Wiltshire District Council before 2008's financial crisis which saw the country's three main banks collapse.