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U.K. Used Anti-Terrorism Law to Seize Icelandic Bank Assets

Chancellor of the Exchequer Alistair Darling used anti-terrorism rules to take control of assets held in Britain by a troubled Icelandic bank.

Darling stepped in to protect deposits made by U.K. residents in Reykjavik-based Landsbanki Islands hf, which the government of Iceland seized yesterday. About 300,000 U.K. account holders held deposits at Landsbanki's Internet bank, Icesave.

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Posted on Oct 09, 2008 at 10:50
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