The general manager of Port Stephens Council says it is still a chance of recouping nearly $2-million lost in a failed investment.
72 Australian councils successfully won a case against US investment bank Lehman Brothers late last week, and stand to collect millions of dollars lost during the GFC.
Port Stephens Council did not join the class action.
General Manager Peter Gessling says council invested its money differently to the others, and is still talking with lawyers to try and recoup $2-million.
The court ruled the Australian arm of Lehman Brothers engaged in deceptive behaviour.
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