KCC may get Iceland money back

_45107945_money_bbc226Kent County Council, who lost 50 million in the collapse of the Iceland banks, received some good news today when it emerged that they should get a large percentage of the money back after administrators indicated there could be an 80% return.

This would be a lucky escape for KCC after continuing to deposit money into the banks even after the credit rating for the banks dropped from ?acceptable? to ?adequate?.

To read the rest of the story go here (BBC link) and here (Kent News).

Of course this still means that 10 million may never be recovered?

This entry was posted in Local News, Money, News, Politics and tagged Banks, Iceland, KCC, Kent County Council, recession. Bookmark the permalink.

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