UKeU creditors settle

August 6, 2004

Institutions owed money by the failed UKe-university will recoup less than 20 per cent of their debt under the creditors' agreement reached last week, the Higher Education Funding Council for England said.

Universities, which will be treated like other creditors, will get just 18p per pound owed. The University of Central Lancashire is owed £117,500, Nottingham University £82,250, Ulster University £61,437 and Leeds Metropolitan University £7,050. The British Council in Brazil is due £26,900.

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