KSF victims likely to receive payments in August- IOM Govt

The Icelandic subsidiary collapsed on 8 October last year, leaving depositors' savings frozen in the bank ever since. The Depositors Compensation Scheme, expected to return 70p of every pound of savings, was triggered last month. John Spellman, finance director of Isle of Man Finance, says: "We are trying to get the money out to people as soon as possible. We are almost through agreeing the terms with the scheme manager." "The intention is that the first block of payments is agreed by June 30 and money goes out probably in August," he adds. However, he could not confirm details of the...