Manx dismay at rejection of Kaupthing S&F offer

Stodell, Hannah
June 2009
Money Marketing;6/18/2009, p12
The article reports on the disappointment of John Spellman, finance director of Isle of Man (IoM), regarding the rejection of the treasury's proposed scheme of arrangement by the depositors of Kaupthing Singer & Friedlander Ltd. According to Spellman, the scheme would bring many benefits to the investors. However, two of the three classess of creditors failed to give the 75% approval required for the scheme.


Related Articles

  • IoM investors in KSF face long cash wait. Blackmore, Nicole // Money Marketing;6/4/2009, p11 

    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...

  • Investors will get only £10k per bond in KSF payout plan. Stodell, Hannah // Money Marketing;4/16/2009, p2 

    The article announces that bondholders who have £400 million frozen in Kaupthing Singer and Friedlander Ltd.will receive a maximum of £10,000 per bond under Isle of Man (IoM) proposals. The scheme of arrangement of the treasury has been passed by the IoM High Court. According to John...

  • Pru bond clients hit by KSF charges. Stodell, Hannah // Money Marketing;1/29/2009, p3 

    The article reports that bondholders at Prudential Funds (Pru) with deposits in Kaupthing Singer & Friedlander Isle of Man (KSF IoM) were charged with quarterly charges in debt on the value of the funds. Pru is asking policyholders that all deposits held with KSF would be valued at zero as at...

  • Axa still levies fees on KSF IoM bonds. Stodell, Hannah // Money Marketing;2/12/2009, p1 

    The article reports on the move of Axa Isle of Man of not imposing offshore bond charges on its policyholders with deposits in Kaupthing Singer & Friendlander (KSF) Ltd. in the Isle of Man. Axa managing director Mike Foy expressed that the deposits are inaccessible due to the bank's insolvency...

  • Ex-watchdog challenges Manx move. Blackmore, Nicole // Money Marketing;11/18/2010, p1 

    The article reports on the decision of former Financial Ombudsman Service adjudicator Jane Sanders of challenging the Isle of Man Depositor Compensation Scheme over its determination of excluding Kaupthing Singer and Friedlander Ltd. IoM bondholders compensation payouts in Great Britain.

  • Month delay to plan KSF cash return. Stodell, Hannah // Money Marketing;2/26/2009, p11 

    The article reports that the liquidation of Kaupthing Singer & Friedlander Ltd. has been stopped until April 9 in the Isle of Man in 2009. It states that the reason for the adjournment is to provide more time to work up a scheme of arrangement in improving returns for depositors. It cites that...

  • Collapsed Kaupthing regains £345m. O'CONNELL, BRIDGET // EG: Estates Gazette;11/13/2010, Issue 1045, p30 

    This article reveals that Kaupthing Singer Friedlander has regained one-third of its property loan book since it collapsed in 2008.

  • Is a 1.5% cut enough to break the fall? Bill, Peter // EG: Estates Gazette;11/8/2008, Issue 844, p16 

    The article discusses the price that Ernst & Young is hoping to get for the £1 billion property loan book of Kaupthing Singer & Friedlander, the British subsidiary of the Icelandic bank pushed into insolvency by the British government. The consensus forecast from a group of valuers is that...

  • Pensions.  // Lawyer;4/9/2012, p10 

    The article discusses the Great Britain Chancery Court case BESTrustees PLC v. Kaupthing Singer & Friedlander Ltd. which deals with assets and liabilities under Great Britain's Occupational Pension Schemes (Employer Debt) Regulations 2005 reg.5 and Great Britain's Pensions Act 1995 s.75.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics