30-Mar-2016: Liquidators' Update, see Deloitte site

Jersey legislators back bank compensation scheme

Jersey has moved a step closer to introducing a depositors’ compensation scheme after its legislators voted ‘in principal’ for the measure. . .

The likely introduction of the scheme follows the collapse last year of Icelandic banks Kaupthing and Landsbanki, which respectively had subsidiaries in the Isle of Man and Guernsey holding many millions of pounds.

While the Isle of Man had a depositor compensation scheme, Guernsey did not, meaning savers in Landsbanki Guernsey have no guaranteed right of receiving any of their money back.

Guernsey has since implemented a scheme, though it is not retrospective and therefore does not cover Landsbanki depositors.   International Adviser website - 17-Jul-09.