Council cash unfrozen from Iceland banks

ANOTHER Norfolk council has received the first repayment into its accounts of taxpayers' cash which was frozen in Icelandic banks.Three councils in the county had a combined �45m invested in the banks and there had been fears over whether the local authorities would be able to claw the cash back.

ANOTHER Norfolk council has received the first repayment into its accounts of taxpayers' cash which was frozen in Icelandic banks.

Three councils in the county had a combined �45m invested in the banks and there had been fears over whether the local authorities would be able to claw the cash back.

Norfolk County Council has already received just under �2.1m from the administrators acting for the Kaup-thing bank and bosses are optimistic more payments will follow.

Now Breckland Council, which has �12m tied up in three Icelandic Banks has got back the first �830,000 of its investments.


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Great Yarmouth Borough Council is expecting to get back around �300,000 of the �2m it had in Heritable bank, part of Landsbanki this month.

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