Hearings into the October 2008 collapse of the Isle of Man branch of Iceland’s Kaupthing Singer & Friedlander have captured the attention of IoM residents and KS&F(IoM) depositors, many of whom feel the full story has yet to be told. . .

Thus it was on 8 October,  he [Donald Gelling] went on, “without warning or having given notice of their intentions to the FSC or, I must say, KS&F(IoM)”  the UK Treasury and the FSA "combined to order the transfer of the majority of KS&F(UK)’s retail deposits" -- including those belonging to KS&F(IoM) -- to ING Direct, and placed the UK arm of Kaupthing into administration. . .

As recently as last month the Landsbanki Guernsey Depositors Action Group, which represents depositors in the failed Guernsey institution, sent a petition to all States of Guernsey deputies calling on them to demand “a full public inquiry” into Landsbanki Guernsey’s collapse. 

Mark Ashbey, a member of the LGDAG, said the Isle of Man deserved credit for its "willingness to allow a Tynwald Select Committee to publicly examine the causes behind Kaupthing’s failure” and whether possible shortcomings on the part of the  island’s  regulator contributed to it. International Adviser website - 18-Nov-09.

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