Telegraph 14 Mar 12: Icelandic bank Glitnir to repay UK councils

Category: Newspaper & Media Reports

More than 50 local authorities that held money with the failed Icelandic bank Glitnir are to be paid in full more than three years after the bank collapsed.

The bank’s winding up committee announced it was to release €635m (£527.3m) to priority creditors on Friday.

The cash will be paid into escrow accounts before being distributed to creditors – the majority of which are understood to be UK councils....

...

read article here

Hits: 1096