Foreign and Commonwealth Affairs written question – answered at on 24 October 2011.
To ask the Secretary of State for Foreign and Commonwealth Affairs what sanctions are available to the Government in its pursuit of the repayment of debts owed to UK businesses, local authorities and individuals by the Icelandic government.
I have been asked to reply.
Retail depositors of Icelandic banks have received their funds in full via the Financial Services Compensation Scheme (acting in part as the agent for HM Treasury). The claims of other creditors are being considered under Icelandic insolvency law. That process is ongoing.
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