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

Group Press Release 19-Jan-09


Local Landsbanki Guernsey depositors stated today that the Landsbanki Guernsey Depositors Action Group (LGDAG) would not be mounting any organised demonstrations for now, despite requests from a number of depositors both in the Bailiwick and further afield.
Following the apparent outright refusal by States Members to provide any form of assistance to people affected by the crash, a number of depositors wanted to carry out a demonstration to show the anger and upset this has caused.

Obviously the LGDAG cannot prevent individual depositors from making their own protests, whether individually or collectively, but despite the apparent intransigence shown by Deputies Parkinson and Trott, the local and international Action Group teams believe the best way forward is to remain rational and calm, and continue to press the legitimacy of their case for help from the States and Her Majesty’s Government.

The Isle of Man Government has put up £150 million towards assisting all savers who were affected by the similar situation of Kaupthing Isle of Man, as it recognises the damage the collapse has done to the reputation of the Crown Dependencies. Guernsey, on the other hand, has clearly stated that it has no intention of helping savers. The contrast is stark and completely incongruous with the actions of all other jurisdictions affected by such bank failures within their territory.

“We have not asked for a handout, but we think it's our right to expect the States to defend and protect British citizens. We were very upset to receive the impression from Deputies Parkinson and Chief Minister Trott that States Members were not prepared to help, despite the fact that the various proposals would involve little or no financial contribution from the States”, said a local spokesperson for the LGDAG.

[Click here for a PDF copy of the release.]