The district administrations of Prague 6, 10 and 13 still have a total of more than Kč 650 million tied up in the investment firm Key Investments which they are attempting to get back. However, instead of coordinating their efforts to redeem their money, the leadership of each administration has chosen a different tactic. It remains to be seen which, if any, will be more successful.
The Prague 6, 10 and 13 district administrations placed Kč 590 million with brokerage Key Investments, which is currently under investigation by the Czech National Bank (ČNB). Prague 6, which has placed the most, has been having a hard time getting some of its money back as the brokerage put it in bonds after the city district made it clear that it would want cash. Key Investments now says its is a bad time to cash in on the unregistered bond market.