Wiltshire

Wiltshire Council expects £3m from Landsbanki

The £3m that is owed to Wiltshire Council by an Icelandic bank is expected to be repaid in full, the authority has said.

The authority said it had now received about 40% of the sum after the winding-up board of Landsbanki paid it £383,650 recently.

In December 2011, the board paid the council £952,000.

A council spokeswoman said the entire process might not be concluded for a few more years.

Jane Scott, leader of the authority, said: "I am very pleased to report the second payment from Landsbanki has been made to the council and that it brings our total repayments to over £1.3 million.

"We will keep a close eye on the winding-up proceedings and will continue to update the public when we have news."

A total of £9m was invested in Icelandic banks by the then Wiltshire County Council and North Wiltshire District Council before 2008's financial crisis which saw the country's three main banks collapse.

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