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City still owed £470k
8:30am Friday 13th December 2013 in News
More than £470,000 is still outstanding from money which Oxford City Council lost through its investments in Icelandic banks.
In October 2008, the Icelandic banks Landsbanki, Kaupthing and Glitnir collapsed and the UK subsidiaries went into administration.
The city council had £4.5m deposited across two of these institutions and a total of around £4.1m has now been repaid.
The figures were revealed at a meeting of the city executive board on Wednesday.
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