North East Lincolnshire Council’s leader has survived a second knife edge no-confidence vote over his authority’s handling of its Icelandic bank investments.
Andrew De Freitas (Lib Dem) won a ballot of the full council to remove him by one vote.
Twenty-one councillors voted against the motion and 20 for with one abstention.
Cllr De Freitas refused to resign in July despite a vote of no confidence, which turned on the casting vote of the mayor.
North East Lincolnshire Council is a hung authority and has been run solely by the Liberal Democrats since May. The Conservatives, which were in a coalition with the Lib Dems until May, backed the Labour motion.
The council had £7m worth of deposits in Landsbanki, Kaupthing Singer and Friedlander banks when they collapsed in October last year.