The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis.
The Treasury said the government has now recovered 85% of its total claim against the Landsbanki estate. Economic secretary Andrea Leadsom has been leading negotiations on the recoveries in a series of phone calls and meetings throughout the autumn. The Treasury added the government remains committed to getting back all taxpayers' money. The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis. The latest funds to be recovered will be used to pay down nation...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes