Council gets more Icelandic bank cash back

[hermes2007]

Not often I have good news about Wiltshire Council.

WILTSHIRE Council has received a fourth repayment instalment from investments in Icelandic banks that collapsed in 2008.

The former Wiltshire County Council invested £8million with Heritable, a UK subsidiary of the troubled Icelandic bank Landsbanki, three months before it was announced Heritable had gone into administration, in October 2008.

North Wiltshire District Council had invested £1million with Heritable and £3million with Landsbanki Islands HF.

The latest payment of £566,084 means the council has now recovered £3.7million and it is hoped it will eventually recover 80 per cent of the total cash.

It was feared that the funds deposited by the former Wiltshire County Council and North Wiltshire District Council had been lost when Iceland’s financial system collapsed in October 2008.

[cuthbert-murray]

west wilts district council however did not lose a penny , but how much did Sailsbury council lose ?