Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Councils prepare for Iceland talks

  • Comment
Council officials are travelling to Iceland later this week to meet representatives of the country’s collapsed banks.

Kent CC and Barnet LBC will be representing all local authorities with deposits with Glitnir and Landsbanki at an initial creditors meeting.

Kent was the council most heavily exposed to the collapse of the Icelandic banks with£50m worth of frozen deposits. Barnet had£27m deposited.

The meeting is designed to help councils better understand the situation in Iceland and determine how the money deposited there can be recovered.

Nick Chard, KCC Cabinet Member for Finance said: "KCC is working hard behind the scenes to co-ordinate councils affected by this and will, along with Barnet, be representing the interests of all those local authorities exposed to the two Icelandic banks.

"This is the start of a process and we will continue to be as open as possible and tell Kent residents what is happening."

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.