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

Guernsey government disagrees on bank compensation plans

In the wake of the Landsbanki Guernsey bank collapse and the loss of depositor savings, confidence in Guernsey as a financial safe haven continues to be questioned as its government equivocates over compensation plans.

The States of Guernsey Treasurer Charles Parkinson said that if another bank collapsed tomorrow, the taxpayer would have to foot the bill until the money could be recovered from the industry. . . .As a consequence of the 2008 Landsbanki collapse approximately £12 million is still owed to the 1,600 depositors, a third of whom are expatriates.

The island dropped four places in this year's Global Financial Centre Index, while the value of Guernsey deposits for the three month period to the end of June this year fell by nearly £2 billion. 03-Nov-10.