WILTSHIRE Council has recovered almost 98 percent of its investment in former Icelandic banks after a further repayment of almost £360,000 was received recently.
The administrators of Heritable Bank repaid £359,319 recently bringing the total money recovered from Heritable and Landsbanki to £11.7m, almost 98 percent of the original £12m originally invested.
Dick Tonge, cabinet member with responsibility for finance said: “This has been a long drawn out process but I’m extremely pleased we have now received the majority of our investment back thanks to our ongoing efforts.
"Very early on after the collapse of the country’s banks we were told we would be able to recover most of our investment and I’m delighted this has proven to be the case.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article