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Thames Valley Police sells off debt owed by Iceland bank

Thames Valley Police

Thames Valley Police

 

A police chief has a sold a £5million claim for force funds lost when an Icelandic bank went bust.

This means that the force has recouped 96 per cent of the money lost after it banked with now-defunct Landsbanki in 2008.

Mr Stansfeld, said: “I am delighted that we have recovered a very large portion of our LBI deposits.

“This is a good result for both Thames Valley Police, and for residents in the Thames Valley.”

Landsbanki is Iceland’s national bank, and the largest to collapse during the country’s financial crisis.

Many investors lost money at the time, and have waited years for their claims to be paid out.

Thames Valley’s claim was sold through a competitive auction process and the funds have already been received by the Police and Crime Commissioner.

 

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