Due to the economic crisis authorities have taken over the banks in the United Kingdom; this happened last October. Hundreds of millions of pounds which have been put into Icelandic banks by Councils now state they can reclaim most of it; 80 percent (£300m).
The Heritable Bank, which is part of Landsbanki, an Iceland bank, expects that the first amounts of money will be paid at the end of July or August. Icelandic Banks reckon they return 70 to 80 pence in the pound. If the economy trades get better close to 90 percent could be paid back.
It is great that finally money can be reclaimed from Icelandic Banks. A lot of inhabitants of the United Kingdom, the Netherlands and countries all over the world have put money into it. Some of them have put small amounts in it and other people have put thousands of Pounds into it.
After the economic crisis appeared the Icelandic Banks went bankrupt. This meant no one could get his or her money back. Right now Heritable Bank has made some promising expectations; stating they could get up to 90 percent back from the money at the end of July and August.