Tynwald approves principle of Early Payment Scheme for KSF IOM Depositors

Tynwald has today (Wednesday December 17, 2008) approved the development of an Early Payment Scheme for depositors with Kaupthing Singer & Friedlander (Isle of Man) Limited (KSF IOM) together with the release of £11 million from the Reserve Fund to meet depositor claims.

The scheme, funded from Isle of Man Government reserves, will make £1,000 per account holder available as an initial measure pending the finalisation of a more comprehensive solution.

Details of the Early Payment Scheme – including how it will operate and how to make a claim – will be finalised and published in due course. It is hoped that the scheme can start early in the New Year.

Downloadable Documents
Application Form (178 kb) Format:Acrobat PDF File Application Form
Guidance Notes (85 kb) Format:Acrobat PDF File Guidance Notes
Letter from Treasury Minister (76 kb) Format:Acrobat PDF File Letter from Treasury Minister

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