All,

After reading all relevant material; to me it all comes down to the following:

1. LG is a subsidiary of Landsbanki, not a branch. It therefore doesn't fall under the Iceland protection/guarantee act.

2. Guernsey doesn't have a depositors protection scheme in place, so there is nothing there.

3. The website of LG stated: Landsbanki is a large and diversified financial services provider and has given an undertaking to discharge those liabilities of Landsbanki Guernsey which Landsbanki Guernsey is unable to discharge from its own assets, whilst it remains a Landsbanki subsidiary.

4. This means that if LG cannot fulfill it's requirements, the parent, Landsbanki Iceland is taking over those liabilities towards it's depositors. So our claims should be aimed at the mother company in Iceland.

5. As Landsbanki Iceland is into receivership/administration, the Iceland protection act should kick in.

6. Next to that LG went into Administartion (partially) due fact that the mother was being nationalized by the Icelandic government.

7. So we should be able to claim our money back from the so called Depositors'and Investors' Guarantee fund in Iceland. See their website to download a compensation form.

It would be very helpfull if someone could comment on this logic (I am not a lawyer) and/or confirm.