This Is Guernsey

By Thom Ogier

LANDSBANKI GUERNSEY depositors say they have been overlooked twice in the past week.

Action group spokesman Matthew Dorman said they were first refused an audience with HM Treasury economic secretary Ian Pearson MP, despite savers from the Isle of Man being allowed one, and when the Icelandic government announced it was to help British depositors who had been left out of pocket, Guernsey was left unmentioned.

‘The depositors’ action group is concerned that the Treasury is not treating the Crown Dependencies equally at this very distressing time,’ he said.

‘It would be helpful if the Treasury could explain as a matter of urgency why they are happy to offer a meeting to discuss the situation for savers from the Isle of Man who lost money following the collapse of KSF but will not meet to discuss the plight of savers from Guernsey,’ he said.

Another spokesman for the group said the International Monetary Fund had now agreed a loan with the Icelandic government, much of which is intended to be passed on to depositors, but Landsbanki Guernsey was mysteriously left off the list. ‘Guernsey was not included. They have not included Guernsey and we feel they should - neither did they include the Isle of Man,’ he said.

Mr Dorman said action group members were holding out hope for meetings with backbench MPs in Westminster tomorrow and with Guernsey’s chief minister, Lyndon Trott, on Monday. ‘We are delighted to be able to meet parliamentarians in Westminster this week to discuss our devastating situation.’

* The Landsbanki Guernsey Depositors’ Action Group estimates that there are 2,033 people with the failed bank.

The group was established to try to secure the return of 100% of their money, which was lost when Landsbanki Guernsey was placed in administration on 6 October.

The bank’s administrators have so far agreed to repay 30p in the £1, which means depositors stand to lose 70% of their money.

Article posted on 19th November, 2008 - 1.00pm