Officials at Hospice Isle of Man are stressing services will not suffer, following the news the organisation could have lost ?1 million in the collapse of Kaupthing Singer and Friedlander.

The money was transferred from a reserve fund to another bank, but at the moment it can't be located.

One of the governors of Hospice Isle of Man , Les Doherty, says it won't make any difference to the services provided:

"We have reserve funds to make sure our services are maintained for as long as possible and actually, we would not need to use those reserve funds if the level of income that we are currently receiving is maintained.

"As you are probably aware, the public in the Isle of Man are extremely generous in supporting Hospice, and supporting the services we provide, and thanks to them we would be able to maintain our services".