East Lindsey District Council receives payments from administrators of banks connected with Icelandic banking collapse

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TWO more payments, including interest, have been received by East Lindsey District Council from the administrators of banks connected with the Icelandic banking collapse.

A payment of £75,800 plus £5,155 interest was received in respect of Heritable Bank on April 20 and a further payment of £100,000 plus £5,263 interest was received in respect of Kaupthing Singer and Friedlander Bank on May 2.

Coun John Upsall, Portfolio Holder for Finance at the council, said: “This is another step in the right direction and along with other councils we will continue to work hard to try and secure the return of all the money invested.”

East Lindsey says it has now had returned £2,973,000 of its original £4,000,000 investment plus £155,000 in interest.