New documents have come to light revealing how the Guernsey government failed to push for the recovery of savings of collapsed bank Landsbanki Guernsey, an action group claims.
Landsbanki Guernsey Depositors' Action Group (LGDAG) says the state failed to adequately represent depositors whose savings were trapped. It says the inaction of the Ministry of Justice (MoJ), which is responsible for representing Guernsey in international affairs, went unpunished by Guernsey. Icelandic subsidiary Landsbanki Guernsey collapsed last October trapping thousands of depositors' money in the failed bank. LGDAG claims information obtained under the Freedom of Information Act reveals no meetings to recover the cash took place between the State and the MoJ between September...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
