Page last updated at 10:10 GMT, Saturday, 18 October 2008 11:10 UK

Iceland cash 'may be written off'

Kaupthing Bank sign
The troubled Icelandic parent bank has been nationalised

The Isle of Man's Treasury Minister has said the 2.7m the government had in Kaupthing Singer and Friedlander bank in Iceland may have to be written off.

Alan Bell said it was uncertain whether they will get the money back and a big question mark hung over the situation.

He said the money was at risk unless an agreement was reached with Iceland and the UK to repatriate the cash.

It was not a massive sum but the loss could impact on some services, he added.

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