And now on the back of the better than expected estimated returns, the Manx Treasury has lodged with the high court proposals for an improved scheme of arrangement. . .

. . . The better than expected figures moves the estimated minimum recovery rate for the local bank from 65 per cent to about 75 per cent.

The improved prospect of returns from the UK could accelerate repayments under the proposed scheme of arrangement for Isle of Man depositors, so that individual entitlements of up to £50,000 could be paid in full in 12 months instead of 24 months.

Some £557 million - £402 million net - was trapped when the Kaupthing Singer & Friedlander bank in London was placed into administration, a move that prompted the collapse of KSF (IoM) in October last year, leaving 10,000 customers owed at least £840 million.  24-Apr-09.

http://www.iomtoday.co.im/news/New-hope-for-Kaupthing-Singer.5203653.jp