Coalition urges Iceland honesty
Posted 20/11/2008 - 02:05 by steveejeb
Charities that stand to lose money in the Icelandic banking crisis should come forward or risk being sidelined in negotiations on compensation, a group of voluntary sector organisations has warned.
The group is headed by Cats Protection and Naomi House children's hospice, which have both admitted they had funds in Kaupthing, Singer & Friedlander. They urged charities to come forward before compensation talks start on 1 December because the priority given to different groups of claimants might be determined by the amount each had lost.
Dominic Sullivan, director of legal services at Cats Protection, said: "We now have only a matter of days before extremely important moves are made on this issue."
Research by sector umbrella bodies has shown that 48 charities lost a total of up to £200m in Icelandic banks (Third Sector Online, 30 October).