The Kaupthing Singer & Friedlander Depositor Action Group (KSFIOM DAG) has urged the Isle of Man government not to 'railroad depositors' into a Scheme of Arrangement to save its 'political and financial bacon'.
KSFIOM DAG has been campaigning for savers' money to be returned since the troubled Icelandic bank collapsed on 9 October last year. It has welcomed the adjournment of the consideration of a winding-up order for KSF IOM until 19 February. Further information will then be provided on the Treasury's proposed Scheme of Arrangement which will be an alternative to liquidation and activation of the Depositors Compensation Scheme. The Isle of Man authorities had been seeking an adjournment of a further 60 days to formulate their plan for an alternative to the Depositor Compensation Scheme (D...
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