Coalition urges Iceland honesty

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2008-11-20 (All day)

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).