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

I'm 89 years old - I saved so I could chose where to end my days

I will be 90 years old this year. My late husband and I have lived in Guernsey for over 40 years, and both worked for the States of Guernsey. Our children and grandchildren have been brought up here, and Guernsey is our home. 

When my husband died some years ago, he had worked hard to ensure that we would not have to worry about finances, particularly in our latter years. We had both saved hard and bought things only when we could afford them, not borrowing to pay back at some later date, as is the fashion of today.

Not long ago, I sold my beloved 4-bedroomed home, where we had brought up our family, as I was finding it more difficult to manage the stairs and garden and the upkeep was becoming a burden. I moved into a small wing of my daughter’s house, which is manageable, all on one level, and my daughter is only next door should I need help.

With the proceeds of the sale of my house, I took advice from my daughter, who has worked within the banking industry for over 30 years, and deposited a substantial sum into an account with Landsbanki Guernsey, in order to obtain the best rate of interest and help boost my State pension.

If at some point, I have to go into a care-home, this money was my nest-egg to ensure I could choose in which home I end my days. It costs in the region of £40,000 per annum to stay in one of the premium care-homes in Guernsey. If I don’t succeed in recovering my savings, I shall become yet another burden to the States and need financial support.

I put my savings into Landsbanki Guernsey - a Guernsey based bank, which was licensed and regulated by the Guernsey Financial Services Commission. I paid tax on the interest to the States of Guernsey. I expected my money to be safe.

To date I have only received 30p in the £ back, the remaining 70% is uncertain.

How can Guernsey call itself a finance centre and allow something like this to happen to ordinary, hardworking, tax-paying people. The authorities appear to have buried their heads in the sand, hoping the situation will disappear with time.

I have joined the Landsbanki Guernsey Depositors Action Group – our numbers are growing daily and we will fight until we get ALL our money returned. We put our savings into a bank – we didn’t expect to lose it.