Half of Icelandic cash recovered (From Basingstoke Gazette)
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Half of Icelandic cash recovered
12:00am Sunday 21st October 2012 in Andover
WILTSHIRE Council has received back half of the money from the Windingup Board of Landsbanki Islands hf Bank, Iceland.
With the most recent payment of £180,000 the council has now received £1,515,856, more than 50 per cent of the total outstanding amount.
Latest indications show that the council will eventually receive all of its outstanding deposit of £3m.
It is likely the recovery of all the assets and the winding-up proceedings will take a while and may not be concluded for a few more years.
Wiltshire Council leader Jane Scott said: “I am very pleased the third payment from Landsbanki has been made to the council and brings our total repayments to more than £1.5m.
“We will keep a close eye on the winding-up proceedings and will continue to update the public when we have news.”
