The Landsbanki freezing order

Posted 26/10/2008 - 10:39 by IceCrusher

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2008-10-16 23

HM Treasury has issued a notice to provide guidance in relation to the Landsbanki Freezing order between Iceland and UK, which should smoothen the financial transactions between these two countries.

This order applies only to Landsbanki and does not freeze the funds of any other Icelandic banks.

Furthermore it does not affect Icelandic companies which have no links to Landsbanki.

Its purpose is to help safeguard the UK economy by freezing assets of Landsbanki in the UK.