Icelandic cash repaid to Cotswold and Wiltshire councils (From Wilts and Gloucestershire Standard)

Icelandic cash repaid to Cotswold and Wiltshire councils

1:00pm Saturday 30th June 2012 in News By Ian Craig

A LARGE amount of cash invested in the collapsed Icelandic banks has been repaid to Cotswold and Wiltshire councils.

Cotswold District Council had made a claim of £2m against the bank Glitnir, and a spokesman confirmed the council had received £1,760,581 of this in March.

The outstanding amount has been paid into a holding account, but will not be released until the Icelandic government relaxes current controls over overseas payments.

A spokesman from Wiltshire Council said the authority had received £1.3m from the winding-up board of Landsbanki, representing 40 per cent of its total claim of £3m.

He added the council was expecting to receive a full reimbursement, but could not confirm when.