UK KSF Depositors May have to Wait 8 Years to Get Back Savings

UK KSF Depositors May have to Wait 8 Years to Get Back Savings

It’s believed that some of the British depositors in the Islands branch of Kaupthing Singer & Friedlander may have to wait till 2017 to get back more of their trapped assets which they lost when the bank collapsed last year.

For the 3000 plus depositors who had more than £50,000 in the bank liquidators have told them it could take upto eight years to recover their money.

Island based depositors have received a maximum of £50,000 under the Manx Government’s depositors compensation scheme.