Wiltshire

Wiltshire Council recoups £1.5m from Landsbanki

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.

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