A petition to wind up the collapsed bank Kaupthing Singer and Friedlander has been adjourned for a further 60 days - to allow time to put together a possible salvage plan.
At Douglas courthouse today (Thursday), the matter was deferred until January 29 next year after it was told the Manx government had appointed a global business advisory firm, Alix Partners, to act on its behalf and look at alternatives to a winding up of the bank and allow time to devise a restructuring/run off plan.
A fund to help Kaupthing depositors facing hardship with the loss of their life savings will also go before Tynwald for approval next month.
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