Did 'Brown plan' bust Manx bank? Channel 4 news

  • C_south_africa
  • 10/10/08 31/05/09
  • a depositor
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Posted: Thu, 23/10/2008 - 13:23

Last Modified: 23 Oct 2008
By: Nick Martin

The Isle of Man government tells Channel Four News it holds the British government responsible for the financial problems on the island.

When the British government seized control of Kaupthing, Singer and Friedlander's retail deposits in the UK, the parent bank in Iceland collapsed and the Isle of Man subsidiary was forced into temporary liquidation.

The government says investments from UK depositors are safe but those from the Isle of Man may not be.

A treasury spokesman said: "The government's assessment of the situation in Iceland, and the decision to take action to protect UK retail depositors in Icelandic banks, was based upon detailed conversations with the Icelandic government."

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sounds good ...

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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  • Thu, 23/10/2008 - 14:00

Just listened to this (not clear when it was broadcast?). Brilliant. Sounds like we really to have got the Manx govt on our side. Or am I being naive? What does anyone else think?

Channel 4 coverage

  • klauseriksen
  • 10/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 14:44

Good piece - but we still have to get it out that most of our money were transferred to the UK in consultation between IOM and UK for safe keeping and that they have not returned that money. Have I misunderstood something or is this our main chance of getting the bulk of our money back? So far this aspect hasn’t been covered in any detail by the press