No sign of council's Icelandic million
One million pounds of tax-payers money has still not yet been recouped by Lewes District Council.
The district council is one of a number of councils across the country which has invested in Icelandic bank Landsbanki which collapsed in October.
Lewes District Council has a 1million deposit in the bank. A council spokeswoman told the Express it would not know what will happen to the money until the spring.
She said: 'Local Authorities with investments in Icelandic Banks are being represented at meetings of the Icelandic Resolution Committees.
'It will take some time to determine the overall position with regards to assets and liabilities. Spring 2009 is the earliest date when reliable information is likely to be available.
'The UK Government is working with the Icelandic Government to help resolve the situation and the Local Government Association is coordinating the efforts of all UK authorities with Icelandic investments.'
Following the announcement of the bank's collapse last month Cllr Ann De Vecchi, leader of Lewes District Council, said she did not expect 'significant financial problems' for the council.
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Weather for Lewes
Tuesday 07 February 2012
Today
Sunny spells
Temperature: -4 C to 3 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Cloudy
Temperature: -2 C to 3 C
Wind Speed: 17 mph
Wind direction: North east
