Iceland repays Groningen and Dordrecht

The province of Groningen and the city of Dordrecht have been paid back the money they lost when the Icelandic bank Kaupthing went bankrupt in October 2008, news agency ANP reported on Monday evening.

Groningen received the €20.9m it had deposited with the bank plus €900,000 in interest. Dordrecht was repaid €3.4m with €200,000 in interest.
The province and city came under a new Icelandic law which gives preference to holders of private accounts in the repayment of losses, says ANP.
It is still unclear if the outstanding €10m and €8m which Groningen and Dordrecht had invested in Landsbanki, which also went bankrupt, will be repaid.

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