Any proof: Gov seized $4bn Icesave assets

funkey_monkey

Does anyone have a link to media information where it is confirmed that the UK gov. seized roughly $4bn of assets from Landsbanki (Icesave) in the UK.

This would infer to me that the gov. bailout would be minimal to our taxpayers if correct.

Or am I talking nonsense?


Thanks.

going2die_rich

Even if they did seize it, we would have to pay the bill for now as nothing could be sold quickly, as all buyers would want to ensure it's legal before hand. So no doubt it will need the UK government to justify it to Europe and get their approval to ensure they aren't going to get a backlash later on.

NumbersGuy_2

http://www.ft.com/cms/s/0/abf583de-9546-11dd-aedd-000077b07658.html?nclick_check=1

http://www.timesonline.co.uk/tol/news/politics/article4910126.ece

nicko33

looks like they will have to put it before parliament (both houses) with 28 (working) days or it ceases to have effect. Part 2 section 10
http://www.opsi.gov.uk/acts/acts2001/ukpga_20010024_en_2#pt2

emc

Landsbanki 'sold off' most of their UK assets to a related Icelandic bank just before the collapse was made official, so the British government should freeze those UK assets as well as security for the funds (if any) paid to Landsbanki.