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Flintshire County Council to wait until February for Landbankski investment update

FLINTSHIRE County Council must wait until February to see how much it can recoup of the £3.7m it lost following the collapse of Icelandic bank Landbanksi in October 2008.

Councillors at a County Hall meeting last week heard an update from chief executive Colin Everett over the situation regarding the authority’s investments in the bank.

The three short-term investments of £1.2m, £1.5m and £1m were made a couple of months before the company went into receivership.

Mr Everett said: “The first opportunity will be during February 1-9, 2011, where we will be trying to get a review of whether we can get our money back.”