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

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.

“To protect U.K. economic interests the government has frozen the funds and financial assets held by Landbanksi,” Stephen Timms, financial secretary to the Treasury, said in Parliament in London today. >>>>>

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