Kaupthing depositors receive compensation boost

The improved prospect of returns from the UK arm of KSF could accelerate payments under the proposed Scheme of Arrangement (SOA) for Isle of Man depositors, enabling individuals with up to £50,000 frozen in KSFIOM to be paid in full within twelve months instead of 24, according to the Isle of Man Government. Ernst & Young, administrators of KSF, says a possible overall recovery rate of at least 50% is now likely for creditors of the UK bank, according to an interim report released this week. The Isle of Man Government expected a lower figure and has consequently moved its estimated mini...