30-Mar-2016: Liquidators' Update, see Deloitte site

Iceland's vote gives UK little comfort

When one of the billionaires behind the collapsed internet bank Icesave was asked in a new film what happened to all the money, his answer was astonishingly nonchalant.

"A lot of money goes to money-heaven," shrugged Björgólfur Thor Björgólfsson, the London-based investor who co-owned 41pc of Icesave's parent bank, Landsbanki.

"The value that has been wiped off the stock markets, and the deposits in the banks and investment funds have gone. They have evaporated. It's a common misunderstanding to ask, 'where did the money go'?" . . .

Public outrage has been brought to a peak by the fact that there are now 43 cases of alleged criminal activity under investigation in connection with the country's scandal-hit financial institutions, including Landsbanki, and, in the country's first referendum, the 320,000 people of the island were expected to vote against a deal to compensate the UK and the Netherlands for the failure of Icesave. 06-Mar-10.