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DAG wants loan trust to repay depositors

by isleofman.com 22nd November 2010

It's more than two years since the collapse of Kaupthing Bank in the Isle of Man.

Thousands of depositors have so far received 50 per cent of their money, but will have to wait until 2017 for a final payment from the bank's liquidation.

The Depositors Action Group says for many, that will come too late.

The group now wants the United Kingdom and Isle of Man governments to underwrite a loan trust, to repay 100 per cent of their deposits.

That would leave the governments, not depositors, waiting for the liquidation repayment.

Spokesman Richard Carter says the group has had an encouraging response from the new coaltion government in the UK:

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Posted by isleofman.com
Monday 22nd, November 2010 01:25pm.

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