The panic may have subsided since last year, but many savers and investors are still fighting to reclaim their cash from collapsed banks. . .

A total of 1,600 savers — more than 90 per cent of them British — had about £120 million invested when the Channel Islands bank was placed in administration last October. Depositors have so far received about 55p in the pound from the administrators. The Guernsey authorities have promised nothing.

Matthew Dorman, a member of the Landsbanki Guernsey Depositors’ Action Group, says: “The administrator expects that the final repayment would be in the range of 70 to 80 per cent. But that would be far short of the 100 per cent that depositors in Landsbanki’s UK and Dutch arms received almost nine months ago.”

Mark Ashbey, another member of the action group, is horrified by Guernsey’s failure to support depositors. “It is truly incredible that affluent Guernsey is still the only country in the world that has refused to help stricken savers in any way,” he says. 26-Sep-09.

http://www.timesonline.co.uk/tol/money/investment/article6848825.ece