KSFIOM Liquidators 29 June 2011: COI statement re loan trust

Category: Newsflash

The Committee of Inspection wish to make the following statement.

Kaupthing Singer & Friedlander (Isle of Man) Limited’s (KSFIOM) Committee of Inspection (CoI) notes the recent proposal issued by the KSFIOM Depositor Action Group for the establishment of a loan trust sponsored by the Manx and UK governments. On the basis that the costs of its implementation are borne by the respective authorities (and not by other creditors of KSFIOM), the majority of CoI members commend the loan trust proposal to the relevant authorities as an expedient and low-cost method of swiftly ending the uncertainty and delay in returning retail creditors’ funds in the bank to them.

KSFIOM DAG Loan Trust Proposal

KSFIOM LTP letter to IOM Treasury Minister

link here

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