Christie struck by bank collapse

Manchester cancer hospital The Christie has become the latest victim of the Icelandic bank collapse.

The NHS Foundation Trust, based in Withington, is facing losses of £7.5m after depositing it with Kaupthing Singer and Friedlander.

A spokeswoman for the trust said of that amount, £6.5m is charity money and £1m is NHS cash.

She said it had taken legal advice and is working with the Financial Services Authority to try to protect the money.

Caroline Shaw, Chief Executive of The Christie, said: "I want to reassure everybody that our patients will continue to be treated as normal and we are working extremely hard to ensure that this money is returned to us."

Several UK charities have also said they may have lost up to £120m of funds invested in failed Icelandic banks.

A delegation from the Treasury is currently in Reykjavik and the UK and Iceland say they will now work together for a solution.

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