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

The FSCS and the Treasury have acquired rights in the assets of the remaining business of the Heritable Bank. 20-Oct-08

www.bloomberg.com:80/apps/news?pid=20601102&sid=aPSVsnVyg5k0&refer=uk

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

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/

Iceland’s new billionaires were once the heroes of its rags-to-riches saga.

Tales of fast cars, yachts and penthouses, accounting scandals and Russian money did not seem to hamper the country’s love affair with its self-made men. But as Iceland’s financial system collapsed under a banking system ten times the size of its economy, the nation’s romance with the very wealthy came to an abrupt end.  19-Oct-08.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3227409/Iceland-falls-out-of-love-with-its-billionaires-financial-crisis.html

Investors with the Guernsey branch of Landsbanki have been dumbfounded to discover that they may have lost their savings because cash was transferred to another subsidiary, Heritable, where depositors are being protected, as well as to the parent company.  Scotland on Sunday website - 19-Oct-08.

http://scotlandonsunday.scotsman.com/business/Savers-stranded-on-islands-following.4606583.jp

More than 2,000 savers with accounts in the Guernsey subsidiary of a failed Icelandic bank are unlikely to recover all of their money, administrators warned yesterday. Depositors have been offered a preliminary pay-out worth just 30 per cent. An initial survey of Landsbanki Guernsey's assets and liabilities by the administrators from accountancy firm Deloitte reported that £41m of the £121m owed to depositors and others was available for distribution. 17-Oct-08

http://www.ft.com/cms/s/0/cda49648-9be3-11dd-ae76-000077b07658.html

PETER HARWOOD, the chairman of the Guernsey Financial Services Commission, made a rare public statement yesterday to rebut criticism from Vale deputy Matt Fallaize. 17-Oct-08.

http://www.thisisguernsey.com/2008/10/15/deputy-got-it-wrong-says-gfsc-chairman/

The Icelandic government is likely to ask the International Monetary Fund for financial help over the weekend, as the country's foreign-exchange market remains dysfunctional and questions mount over Iceland's near-term debt obligations, a key government official told Dow Jones Newswires Friday.

Financial markets worry about the government's ability to meet debt obligations as Iceland drastically shakes up its financial system.  Wall Street Journal website - 17-Oct-08.

http://online.wsj.com/article/SB122425739356744673.html?mod=googlenews_wsj

Iceland's central bank yesterday attempted to get money flowing in and out of the country's hobbled economy, routing all payments through its own accounts and blaming UK banks in particular for withholding funds from Icelandic companies. 17-Oct-08.

http://www.ft.com/cms/s/0/9c1ee732-9be2-11dd-ae76-000077b07658.html