Date set for Newham Council’s Icelandic bank court battle

A COURT battle over millions of pounds of Newham Council money frozen in Icelandic banks is set to begin next month.

A total of �7million of Town Hall cash was effectively placed out of reach when Iceland’s financial institutions went into meltdown in October 2008.

The council had �2m invested with Landsbanki and �5m with Glitnir.

Lawyers for the authority have filed written submissions with the District Court in Reykjavik.

A full hearing is expected to take place next month, according to a report to the council’s cabinet.

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