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

KSF: 75 per cent to get all cash by September

THREE quarters of all Kaupthing Singer and Friedlander Isle of Man depositors will be paid back in full by the end of September. . .

Treasury Minister Allan Bell MHK said the DCS payments would be paid to about 5,000 to 6,000 eligible account holders 'as soon as possible'.
'We will have paid over 75 per cent of depositors by the end of September,' he said. . .

'If the Isle of Man stood by and did nothing, that would be irresponsible. It's a short-term loan and ultimately we will get the bulk of this money returned to reserves. How fortunate we are in building up reserves over the past few years. Who would have predicted the set of circumstances that brought about this collapse?'

He insisted the government had a 'sincere desire' to help the depositors. 'We do understand the personal tragedies the collapse has caused. We have done our utmost,' he told Tynwald.

Mr Bell said that with the bank now in liquidation, the government could now move on to the next stage and support an inquiry into bank's collapse. 21-Jul-09.