Inquiry into KSF Collapse To Enter Final Stages Next Week

Former Treasury Minister Alan Bell Will Give Evidence to Select Committee

The inquiry into the collapse of Kaupthing Singer and Friedlander in October 2008 will enter its final stage next week.

Throughout the course of the hearings the Tynwald select committee have heard evidence from key people as they try to get a better understanding of why the Island’s branch collapsed.

On Monday of next week they will hear from MHK Alan Bell, who was at the time the Treasury Minister.

The focus will be on the aftermath of the collapse, and the credibility of the depositor’s compensation scheme.

Current Treasury Minister Anna Craine recently introduced an updated compensation scheme, the £50,000 limit will remain unchanged but it will endeavour to make speedier payments to those affected.

Chief financial officer Mark Shimmin will also join Mr Bell at the hearing on Monday.