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Web extra: Kaupthing Isle of Man

Kaupthing Bank sign
KSFIoM's liquidation would trigger the island's compensation scheme
Kaupthing Singer and Friedlander Isle of Man (KSFIoM) savers should receive back at least 60% of the money they have lost under a scheme of arrangement approved in a Manx High Court hearing on 19 February.

Treasury officials believe the scheme would offer a better outcome for the 10,000 depositors than a liquidation.

The hearing was adjourned until 9 April for further changes to the scheme, which needs depositor approval.

But why aren't depositors happy?

We speak to John Spellman, director of the Financial Services Division of the Treasury, Isle of Man Government.

Further information/related stories:

External internet links:

Safety of savings

FSCS Consumer Helpline: 020 7892 7300

FSA Consumer Helpline: From UK: 0845 606 1234

Money Box



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