Council gets third Icelandic bank payment

First published in News by

Wiltshire Council has now recovered half of the money it invested in a collapsed Icelandic bank.

The council, which had invested £3million in Landsbanki when the Icelandic banking system collapsed in 2008, has now received a payment of £180,000 from the winding-up board of the bank. Along with two previous payments, this brings the total received so far to £1.5million.

The council says it expects to eventually receive all its investment back, but the recovery of all the assets and the winding-up proceedings may not be concluded for a few more years.

Jane Scott, leader of the council, said: “I am very pleased the third payment from Landsbanki has been made to the council. We will keep a close eye on the winding-up proceedings and will continue to update the public when we have news.”

• In total, the former Wiltshire County Council and North Wiltshire District Council invested £3million with Landsbanki and £9million with Heritable, a UK subsidiary of Landsbanki. Wiltshire Council has also got £6.7million back from Heritable so far and expects to get back 95 per cent of the £9million.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree