Kaupthing Isle of Man collapse update

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As the winding up by liquidators continues so does the blaming, naming and political sideshow. The process is due to be completed at the end of November and it is likely that everyone who had deposits will get their money back up to the ceiling limit of 50k as per the revised Isle of Man Depositors Compensation Scheme however that is little comfort to those ho deposited amounts over this level! Which will be a considerable number!

The Kaupthing Action group set up by depositors has continued to rally and gain support with a recent appointment of a legal team to assist in claiming money lost.

One things is for sure, the issue will continue for a long time to to come and will have ramifications to the Isle of Man as an offshore jurisdition.

Lets hope that a some positive news comes along soon – it’s not like we don’t need some!

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