KSFIOMDAG, the depositors' action group for failed bank Kaupthing Singer & Friedlander Isle of Man (KSFIOM), has branded the Treasury's Scheme of Arrangement (SOA) proposal "unsatisfactory".
Depositors with money trapped in the bank have a month to wait before finding out how much cash they will get returned after a date was set for a vote on how compensation should be arranged. Victims are set to meet on 19 May to decide whether they want the Isle of Man-backed Scheme of Arrangement (SOA) proposed for the bank, but the action group has criticised the amount of information available to depositors upon which to base their decision. "PwC and the Treasury originally agreed to produce calculated comparisons of how much parties would receive under the Depositors Compensation Sch...
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