City still owed £470k

Oxford Mail: . .

More than £470,000 is still outstanding from money which Oxford City Council lost through its investments in Icelandic banks.

In October 2008, the Icelandic banks Landsbanki, Kaupthing and Glitnir collapsed and the UK subsidiaries went into administration.

The city council had £4.5m deposited across two of these institutions and a total of around £4.1m has now been repaid.

The figures were revealed at a meeting of the city executive board on Wednesday.

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Comments (2)

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1:06pm Fri 13 Dec 13

Andrew:Oxford says...

Let's hope they are a bit more careful about who they bank with nowadays...

Just checking the sort code of their bank 08-90-38...

Co-operative bank...

No worries there then?
Let's hope they are a bit more careful about who they bank with nowadays... Just checking the sort code of their bank 08-90-38... Co-operative bank... No worries there then? Andrew:Oxford

4:23pm Fri 13 Dec 13

mytaxes says...

Well said Andrew!
Well said Andrew! mytaxes

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