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

Jersey Evening Post

This page contains brief summaries of and links to media reports from the source Jersey Evening Post.

Depositors seek Landsbanki inquiry

DEPOSITORS in a Guernsey bank that went bust are angry that a guarantee from its Icelandic parent now appears not to be worth the paper it was written on.

Earlier this week the winding up board for Landsbanki’s affairs in Iceland rejected depositors’ claims under the Guernsey bank’s parental guarantee. And the people who banked at Landsbanki Guernsey are now accusing the Guernsey Financial Services Commission of not doing its job properly.

A group representing the Jesey and Guernsey depositors said that the regulator allowed the bank to advertise a parental guarantee to potential customers that has not now been honoured. They also say that recent assurances given by Guernsey Chief Minister Lyndon Trott, that depositors would be treated fairly by the winding up board, were worthless.

The group is calling for an independent public inquiry to investigate what went wrong and to hold people to account.

About 100 Jersey depositors are still owed about £2 million after the bank failed in October 2008. Over a period of time, they have been repaid chunks of their savings and have so far got back about two thirds. 20-Feb-10.

Landsbanki investors to petition Queen

ABOUT 100 Islanders owed money after a Guernsey bank collapse are to petition the Queen in the latest move in their fight to have their savings returned.

The petition prepared by Jersey depositors in Icelandic-owned Landsbanki Guernsey will be presented next week to the Lieutenant-Governor, General Andrew Ridgway.  20-Feb-09.

Wait goes on for bank depositors

ISLANDERS with money trapped in an Isle of Man bank now in administration are still waiting to discover if they will receive £50,000 back through a depositor protection scheme. 17-Jan-09.

Landsbanki: Loans for depositors rejected

GUERNSEY ministers have rejected various loan proposals that would have given many Landsbanki depositors some of their money back.

And it looks less likely than ever that savers in the Icelandic-owned Guernsey bank that collapsed last year will get all their money returned when the affairs of the bank are finalised.  13-Jan-09.

Landsbanki savers call for more from Guernsey States

JERSEY-based investors with money in Landsbanki Guernsey say that the States of Guernsey are not doing enough to help recoup their savings from the failed bank.  11-Dec-08.

Guernsey sets up deposit compensation scheme

Article about the implementation of Guernsey's Depositor Protection Scheme, and the fact that,'... it will not be retrospective and will not benefit worried investors with frozen accounts in Landsbanki, the Icelandic-owned Guernsey bank in administration.'

Clearly unaware of Isle of Man's Depositor Protection Scheme, and the retroactive implementation of the increased amounts, the report contiinues:

'However, it does mean that Guernsey has beaten Jersey and the Isle of Man in the rush to set up a protection scheme for investors.'  27-Nov-08.

Landsbanki: Help from Guernsey?

HINTS that Guernsey taxpayers’ money may be used to bale out investors in Landsbanki, the Icelandic bank in administration, were given at a meeting on Monday.  26-Nov-08.

Warning shot for finance

THE UK Chancellor fired a warning shot across the bows of off-shore tax havens yesterday as he announced a major review of how they transact business.

In a pre-budget report designed to show that he was taking robust action to address the fallout of the credit crisis, Alistair Darling said that jurisdictions would have to show that their tax regimes met international standards. The review, he added, would not examine the constitutional relationship between the UK and Jersey, Guernsey and the Isle of Man.  25-Nov-08.

Group meets to press Landsbanki claims

A GROUP supporting Jersey investors in the Icelandic-owned Guernsey bank in administration will meet Guernsey’s Chief Minister next week as the campaign to get investors’ money back is stepped up.  22-Nov-08.

Landsbanki: ‘We are working hard to help savers’

HARD work is being done to secure the return of Jersey residents’ savings held in the frozen accounts of Icelandic-owned Landsbanki, says Guernsey’s Chief Minister Lyndon Trott.  14-Nov-08.

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