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Isle of Man to pay out 193m
THREE-quarters of savers who lost out through the collapse of the Isle of Man arm of Icelandic bank Kaupthing Singer & Friedlander will get all of their money back by September, it emerged yesterday.
The Manx parliament approved a £193m government funding package which will accelerate compensation payments to savers of KSF Isle of Man under the island’s Depositors’ Compensation scheme.
The Manx Treasury said £85m had already been paid to depositors under an early repayment scheme giving up to £10,000 each to depositor.