Burnley Council assets frozen
Published Date:
09 October 2008
ONE MILLION pounds of Burnley Borough Council has been frozen in the dramatic Icelandic bank crash.
Town Hall bosses have confirmed that £1m. of funds deposited in Landsbanki have been frozen but are assuring the public that there will be no impact on services.
Coun. Gordon Birtwistle, leader of the council, said: "This is an unprecedented event in unprecedented times. Landsbanki was selected for our banking list based on independent financial advice – they were a reputable bank with a solid credit rating. The nature of the collapse and the actions of the Icelandic Government could not have been foreseen."
Read the full story in tomorrow's Burnley Express
The full article contains 111 words and appears in n/a newspaper.
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Last Updated:
09 October 2008 2:24 PM
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Source:
n/a
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Location:
Burnley
