Wiltshire Council get back Icelandic investment
3:14pm Tuesday 24th September 2013 in News
Wiltshire Council has received around £1.6m in repayments after recovering money from Icelandic banks.
A sum of £1.51m came from Heritable Bank and £156,000 from Landsbanki which the council had invested in prior to the country's financial crisis five-year-ago.
Wiltshire Council has recouped around £10m from its original investment of £12m in 2008.
Wiltshire Councillor Dick Tonge, cabinet member for finance, said: “We welcome the latest Icelandic Bank repayments and we will continue to keep a close eye on the winding up proceedings and update the public when we have more news."
Wiltshire Council invested £9m in Heritable Bank and £3m in Landsbanki.