Following consultation with the Isle of Man Financial Supervision Commission, the Board of Kaupthing Singer & Friedlander IoM has announced the company will be wound up.
“The Commission has suspended the banking licence of Kaupthing Singer & Friedlander (Isle of Man) Limited with immediate effect,” it said. According to the Commission, in order to protect the interests of UK retail savers, a joint petition will be presented to the Court for the appointment of a liquidator, provisionally. “The Scheme Manager of the Depositors’ Compensation Scheme will meet as appropriate to consider the activation of the Scheme,” it said. Depositors will be contacted and invited to make a claim, once the scheme is activated, added the Commission. The Isle of Man Depo...
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