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About Depositors

This page contains brief summaries of and links to media reports on the topic of About Depositors.

Expats face big Icelandic bank losses

Expatriates who saved with Icelandic banks offshore still face massive losses despite a promised early part repayment for Landsbanki Guernsey customers and a £50,000 deposit protection scheme for customers of Kaupthing Singer and Friedlander (KSF) in the Isle of Man. 22-Oct-08.

http://www.telegraph.co.uk/global/main.jhtml?xml=/global/2008/10/21/new-expat-financial-crises.xml

Iceland must look after depositors, says Prime Minister

PRIME MINISTER Gordon Brown has said it is Iceland’s responsibility to look after Britons with money in failed Icelandic banks through branches in Guernsey and the Isle of Man.

He was pushed on the issue during a Common’s debate by Conservative MP Graham Brady. 22-Oct-08.

http://www.thisisguernsey.com/2008/10/22/iceland-must-look-after-depositors-says-prime-minister/

Landsbanki Guernsey savers cry foul

Thousands of customers of Landsbanki's Guernsey subsidiary, who have lost the majority of their life savings, are crying foul over the alleged use of their funds to compensate other customers of the failed Icelandic bank. 21-Oct-08.

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_...

Guernsey and IOM savers call for help

Depositors press Chancellor to offer them the same bailout promise he has given UK savers. Savers with money in Icelandic banks' operations in Guernsey and the Isle of Man are pressing Alistair Darling, the Chancellor, to offer them the same protection he has given to UK savers. 21-Oct-08

http://www.timesonline.co.uk/tol/money/savings/article4985161.ece

The Perils of Saving Offshore

Well researched article covering the Kaupthing Singer & Friedlander, Isle of Man and Landsbanki, Guernsey bank failures and the ramifications for depositors.

• Three-fifths (60%) are UK citizens working or living overseas, who found it all-but-impossible to open a UK savings account without a permanent address here.

• UK citizens who are UK-resident account for another quarter (25%).

• Only one in nine (11%) are non-UK citizens who are non-resident.

Many of these . . .currently live and work overseas, and thus are prevented from keeping their nest eggs safe in the UK. So, before you move to criticise these unfortunate folk, put yourself in their shoes. How would you feel if your lifetime’s work was wiped out overnight?   Motley Fool website - 21-Oct-08

http://www.fool.co.uk/news/your-money/2008/10/21/the-perils-of-saving-offshore.aspx

Offshore savers in bid to get deposits back

Thousands of British citizens, who had their money in the offshore subsidiaries of the collapsed Icelandic banks, have joined forces to presurise the Government into refunding their lost savings. 21-Oct-08

http://www.independent.co.uk/money/invest-save/offshore-savers-in-bid-to-get-deposits-back-967772.html

Savers in bid to get money back

Savers who have collectively lost millions of pounds in the offshore arms of Icelandic banks have formed action groups in a bid to try to get some of their money back.

The action groups, which include Landsbanki Guernsey Depositors Action Group and the Kaupthing Isle of Man Depositors Action Group, are petitioning governments in the UK, Iceland, Guernsey and Isle of Man to step in and guarantee their savings. 21-Oct-08.

http://ukpress.google.com/article/ALeqM5iMLpmPidfY1oalbeRJ9YplwA0nMA

Island savers form action groups

Savers who lost money after the offshore arms of Icelandic banks went bust have formed action groups to try to get their money back.

Landsbanki Guernsey Depositors Action Group and the Kaupthing Isle of Man Depositors Action Group want government intervention to resolve the issue. More than 2,000 people had £117.3m saved in Landsbanki Guernsey. 20-Oct-08.

http://news.bbc.co.uk/1/hi/world/europe/jersey/7680898.stm

Minister acts to help Landsbanki depositors

ECONOMIC Development Minister Philip Ozouf was this morning drafting letters to the Guernsey and Icelandic governments on behalf of Islanders who lost money when Landsbanki Guernsey collapsed. 20-Oct-08.

http://www.thisisjersey.com/2008/10/20/minister-acts-to-help-landsbanki-depositors/

Building societies drawn into Icelandic banking crisis

The Icelandic banking crisis has sucked in savers who had old offshore bank accounts with the Cheshire and Derbyshire building societies. 20-Oct-08

www.citywire.co.uk/adviser/-/news/adviser-news/content.aspx?ID=318013

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