Isle of Man Treasury Minister Allan Bell has welcomed the Isle of Man High Court's decision to allow more time for the development of a solution for the depositors of Kaupthing Singer & Friedlander Isle of Man (KSF IoM).
The Isle of Man government is looking at ways to increase payout and guarantees to depositors and creditors as well as ensuring funding arrangements are in place to accelerate payments to depositors in an orderly manner, according to the Treasury Minister. At the same time, the government wants to leave open the option to bring in a third-party investor. Options available to the Treasury range from restructuring and recapitalising part of KSF IoM to an arrangement with creditors to achieve a more coordinated wind-down. Following an application from the Treasury, the court agreed to ad...
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