Council chief to make statement on ‘lost’ Iceland money

Bucks County Council
Bucks County Council

Bucks County Council is still fighting to recoup £5 million lost in the Iceland bank collapse.

Council chiefs say they expect to get the majority of the money back.

Peter Hardy, cabinet member for finance and resources, is set to make a statement at the full county council meeting on Thursday.

Aylesbury Vale District Council has already received 95 per cent of its £3million deposit with Landsbanki, the Icelandic national bank, following an auction last month.

Last week we reported how Thames Valley Police and Crime Commisioner Anthony Stansfeld had auctioned off the force’s claim on their loss for 96 per cent of the value.

The force had deposited £5million with Landsbanki but it was lost after the Icelandic financial crisis between 2008 and 2011.