Guernsey No Government Bail Out
Published / Last Updated on 23/10/2008
Guernsey No Government Bail Out
Despite the fact that the Isle of Man government will be underpinning the deposit protection scheme for Kaupthing investors in the Isle of Man, investors in Landsbanki Guernsey will not be so lucky.
Guernsey has no investors compensation scheme and ruled out state funding to compensate more than 2,000 savers.
It appears that assets depositor assets may still be in Guernsey to the tune of around 30%. In short, investors may receive 30p in the £1.
We wait with baited breath to see what any International Monetary Fund rescue for Iceland will do and whether this will help offshore investors in the Channel Islands.
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