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

Press Release 29-Jan-09.


Representatives of depositors in Landsbanki Guernsey met with key HM Treasury officials yesterday to seek the full return of their savings. The Treasury were quick to stress that responsibility lay with the States of Guernsey.

Depositors had hoped the British Government would intervene to apply diplomatic pressure on Guernsey to ensure all savings were returned.  However, the Treasury firmly placed responsibility back in the court of the States of Guernsey, underlining that as the regulatory authority it was their responsibility to support depositors.

Officials speaking on behalf of the Treasury said the UK was simply not in a position to support Landsbanki Guernsey depositors, but noted that the States of Guernsey had benefited from years as a key financial sector and should be in a position to bail out depositors as necessary.  The Landsbanki Guernsey Depositors Action Group (LGDAG) will now be seeking a third meeting with the Chief Minister of Guernsey, Lyndon Trott, to press for an interim loan or other support mechanism to end months of hardship and distress for the 1600 Landsbanki Guernsey depositors.

Speaking following the meeting, Matthew Dorman, spokesman for the LGDAG, said: “Having had high hopes for the meeting with the Treasury, we have once again been left without answers and assurances.  We are feeling increasingly frustrated. Clearly no one will take responsibility or support us to ensure the swift return of funds to depositors.  HM Treasury officials are adamant that the States of Guernsey is in a position to support depositors.  LGDAG is committed to ensuring that this happens.”

[ Click here for a PDF copy of the release ]