info.LandsbankiAction.org.gg   30-Mar-2016: Liquidators' Update, see Deloitte site

Deloitte to seek liquidation of Guernsey's Landsbanki subsidiary

Deloitte, the joint administrators of Landsbanki Guernsey, will apply to a Guernsey court next month to allow the failed Icelandic bank subsidiary to be placed into liquidation, according to a statement on the Deloitte website. . .

The report that Deloitte is expecting to seek to liquidate Landsbanki Guernsey comes a day after news that the UK government had rejected a petition by the depositors’ group for compensation, on the grounds that Landsbanki Guernsey was "not a subsidiary of a UK bank, but of an Icelandic company". . .

In its statement, Deloitte said the joint administrators had "notified creditors of their intention, subject to court approval, to place the bank into liquidation, and to make a further distribution to creditors of up to 7.5p in the pound". . .

“This is the day that many local pensioners who deposited their life savings in the Cheshire Building Society – which was taken over by the Icelandic bank – or into the 'Guernsey Icesave' – have been fearing for the last two years,” said Neil Dickens, chairman of the local chapter of the LGDAG. 

“My assumption is that we’re looking at the bottom range of 85p in the pound, because for the first time, they’re saying that the range could be outside the range of 85p to 91p in the pound," . . .

Dickens said the Guernsey Landsbanki depositors were dismayed to find that their hopes of receiving even as modest a payment as 90p in the pound increasingly seemed unlikely to be realised.

"What we want to know is, why we are not being made whole, like every other person who deposited in Icesave was," Dickens said.  By Helen Burggraf, International Adviser website, 16-Nov-10.

http://www.international-adviser.com/article/deloitte-to-seek-liquidation-of-guernseys-landsbanki-subsidiary