Search

Yarmouth council to retrieve cash

PUBLISHED: 11:43 16 July 2009 | UPDATED: 14:25 03 July 2010

Great Yarmouth Borough Council is expecting to get back the first slice of cash which it had frozen in Icelandic banks.

Millions of pounds of Norfolk taxpayers' cash has been tied up in the banks after the institutions went into administration last October.

Great Yarmouth Borough Council is expecting to get back the first slice of cash which it had frozen in Icelandic banks.

Millions of pounds of Norfolk taxpayers' cash has been tied up in the banks after the institutions went into administration last October.

Norfolk County Council, which has £32.5m frozen in Iceland banks and Breckland Council, which has £12m, have already said they hope to get the first payment back this month.

And Seb Duncan, head of financial services at Yarmouth's council, said today that his authority was due to get back £300,000 of the £2m it had in Heritable Bank, part of Landsbanki, next month.

Most Read

Most Read

Latest from the Great Yarmouth Mercury