| Item | Description | Resolution |
|---|---|---|
| PART 2 - PRIVATE | ||
| MATTERS FOR RECOMMENDATION TO THE CABINET | ||
| FIP 13/031 |
Landsbanki Deposit (Icelandic Bank) (Reason: LGA 1972 Sch 12A Para 3 - Financial or business affairs of any particular person) |
The report of the Director of Finance and Transformation gave details of an urgent decision taken on behalf of the Cabinet by the Leader and Cabinet Member for Finance, Innovation and Property in respect of the potential sale of the Council's Landsbanki claim. The legal advisors dealing with the recovery of the deposit had invited those authorities that wished to do so to participate in a joint sale of their claims. A selected group of Members had therefore been consulted on the proposal in order to meet the response deadline. RECOMMENDED: That the Cabinet endorse the decision taken by the Leader and Cabinet Member for Finance, Innovation and Property to participate in the sale of the Council's Landsbanki claim as set out in the report. *Referred to Cabinet |