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Chorley Borough Council: Bank Services

Volume 494: debated on Tuesday 16 June 2009

To ask the Secretary of State for Communities and Local Government what information he holds on the sum to be repaid to Chorley Borough Council from its deposit with Landsbanki; and when he expects the repayment to be made. (280053)

Central Government do not hold the information requested. The resolution committee for the bank, on which local authorities are represented, has published information on likely rates of return. The timetable of the administration process is a matter for the administrators. The Government have been doing everything they can to help local authorities, along with other creditors, get their money back. High-level discussions continue to ensure the fair and transparent treatment of UK creditors.