home

Re: Landsbanki Guernsey

  •  Sun, Oct 12 2008, 4:28 PM

    Re: Landsbanki Guernsey

    Is anyone else in London or near London? I'm willing to co-ordinate an action group here. We ended up with LG as we wanted an account a relative who lives overseas and we saw Landsbanki recommended in the Guardian. I've yet to hear back from Harriet Harman MP. What strikes me as important at this moment that the administrators find a buyer for the bank. This is the most straightforward way to ensure our deposits are safe. This has really concerned me, from the LG website:-

    Rick Garrard: "The Bank had taken measures to diversify its exposure to its parent company in the six months preceding my appointment. The main reason for the Bank’s difficulties has been the placing of funds with its UK fellow subsidiary, Heritable Bank, which has now gone into Administration.”

    "There are significant liquid funds available to the Bank and we are doing everything we can within the boundaries of the law to enable a part payment to depositors and creditors to be made as soon as possible."

    Once any liquid funds are distributed, I would have thought that it would be impossible to sell the bank, therefore, it is better for us all that we don't receive any part payment. I think we need to put pressure on the administrators, the Guernsey authorities and the UK authorities that a buyer is found for the bank ASAP.

    • Post Points: 65
View Complete Thread