TITLE

IoM investors in KSF face long cash wait

AUTHOR(S)
Blackmore, Nicole
PUB. DATE
June 2009
SOURCE
Money Marketing;6/4/2009, p11
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the opposition expressed by the Depositors Action Group (DAG) at Kaupthing Singer Friedlander concerning the Scheme of Arrangement (SOA) developed by the Isle of Man government to put the bank under liquidation. DAG stresses that it favors to receive a refund of their funds rather than liquidation. It reveals that the SOA will enable depositors to recover 75-80 per cent of their funds in the bank, however, they have to wait for about two years to receive the money.
ACCESSION #
42010430

 

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