I have my life savings in Landsbanki Guernsey - a 5 year bond. Have I and all other savers lost everything? Is there any action we can take or are advised to take?

I too find my selrf in the same boat,and ask myself what I can now do?

We are in the same situation as well. What do we do?

I don't think there is much anyone can do. Just a case of waiting for the administrator to write to us all with a plan. Hopefully they will be able to salvage our deposits. I am a Jersey resident and deposited with Landsbanki Guernsey and not sure whether I would be covered by a Guernsey protection scheme if one were to be brought in. Anyone got any ideas?

Not much, the directors of Landsbanki Guernsey called in the administrators on Monday night with the aim to keep our deposits safe and to find a buyer for the bank. This is what has happened to Heritage Bank today. Keep your fingers crossed that someone wants to buy it and then we will all be OK.

I am also in the same situation. Having worked very hard managed to accumulate the savings deposit i made with Landsbanki.

Does any one know, if the head office in Iceland is taken over by the icelandic government, are our savings in Guernsey branch covered by the governments Guarantee?

Are we covered by the 100% Gurantee given by the Chancellor in Uk to all savers in Icesave.co.uk as this was also owned by Landsbanki?

I have just spoken to Landsbanki Guernsey and they told me that that we have to wait until we are contacted by the administrator, which may take a month. There will be updates on the website when they are made available.

The Landsbanki website has the following information regarding protection:

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7. Is my deposit covered by a Deposit Protection Scheme in Guernsey?
No, there is no such scheme in place at present.

8. Are my deposits covered by the Icelandic or UK Deposit Protection Schemes?
No, these schemes do not cover deposits of Landsbanki Guernsey Limited.

My view is that there is no protection at present. A relative has suggested that depositors form a depositors action group. I am retired and live in Malta. I don't know if anyone has started this kind of group in Guernsey or is willing to do so.

The Icelandic govenrment are supposed to cover UK depositers in Icesave upto c.£16k but I believe that this does not extend to the offshore subsidiary. The UK protection plan does not apply to these deposits. Hopefully, the company will continue operations as a going concern and Guernsey residents should get some protection from the States of Guernsey in the near future. We'll just have to wait for an announcement. I am not sure whether Citizens Advice would be able to help.

The latest is that following pressure from Alistar Darling, depositors would have priority in payouts from Landsbanki over creditors. As it is thought there is sufficient funds to pay back all Icesave customers, there should be enough funds to pay funds back to the Landsbankii Guernsey depositors as this is a smaller concern than Icesave.

I would fully support the forming of depositors action group; let's use this forum for the time being as a formal way of communicating. We will try to contact the administrator tomorrow to seek advice in this. I am living in The Netherlands and just lost my life savings (read: pension). Being remote, it is hard for me to stay up to date with all these developments, let alone travelling to Guernsey to make a claim (or pursue legal actions). Alternatively, contact me on my email address: XXXX

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This is an extract from an e-mail just sent to the DG of the Guernsey Financial Services Commission, copied to jdewoolfson at guernsey-press.com and graeme.delap at moneysupermarket.com.

I would like to know what actions the Guernsey Government and
> Financial Services Commission are taking to secure a similar guarantee
> for depositors in Landsbanki Guernsey.
>
> I am aware that a protection scheme is being worked on - but this is
> no help to me and my fellow depositors.
>
> Specifically:
>
> 1. What action is being taken to support the receivers in finding a
> buyer for the bank?
>
> 2. What action is being taken to obtain support from other countries
> such as the UK and the EU?

Great! Please keep us informed about the outcome.

I strongly believe all depositors should get their act together, and join forces. Me, living in The Netherlands and others, will fall between the cracks right now. The Dutch/UK and Iceland government will not back us up. So our only hopes are :

a) the bank being bought b) a guarentee from Guernsey

My biggest fear is that Landsbanksi in Iceland (the 'mother') already ripped off all assets from our bank in Guernsey. So we are paying litteraly for the problems they have in Iceland right now.

Hi I would like to join some kind of action group. Like Peter Paul I live in the UK rather than Guernsey. I have a 7 figure sum in a 1 year bond that was due to mature in a couple of weeks, this is money from the sale of a business after over 20 years hard work.

I have just seen on the Reuters Web site that the Icelandic's are saying that there is a good chance that Landsbanki will have enough funds to cover all of the money in Icesave. It also says they will be liasing with the UK govt to work out how to sort this mess out. I wonder if this statement is partly due to the threat of been sued by The UK govt. If so can we put pressure on the Guernsey authorities to do something similar?

I am also supportive of an action group. There is an article in this evening's Jersey Evening Post about one saver who stands to lose £30000. It also details that depositers have no protection from Iceland or Guernsey - even the formation of a protection plan will be unfortunately be too late for LG. The offers were heavily advertised both in the local press and online earlier this year in Jersey and one politician is starting to investigate. I think a pressure group to act as a liaison with the adminstrators and States of Guernsey is the only real way forward.