Gib MPs fly to Guernsey storm

The Landsbanki Guernsey Depositors Action Group say they want to make us aware that "your Gibraltar MPs have flown into a media storm in Guernsey, which is this week hosting a CPA conference on, ironically, the financial crisis and the response by parliamentarians - ironic because Guernsey is the only country in the world that has refused to help stricken pensioners who recently lost the majority of their life's savings deposited in the Cheshire Building Society's Guernsey subsidiary (acquired by Landsbanki hf)."

The LGDAG has organised a series of protests to coincide with the CPA conference in Guernsey. "We apologise for any inconvenience and disruption caused to your Gibraltar delegates but we feel the world should know how shoddily Guernsey has treated the many pensioners - both Channel Islanders and British expats in Spain, France etc - who deposited their trust in Guernsey.

"Landsbanki Guernsey savers are determined to continue to make their voices heard at any possible forum - until their savings are returned in full by the Guernsey authorities. After all, depositor liabilities in Guernsey are only one tenth that in the Isle of Man, which pledged ?150m of public funds to help savers. Guernsey, in sharp contrast, has steadfastly refused to help."

A press release says it is now over 8 months since Landsbanki Guernsey(LG) was placed in administration and whilst savers in the UK have received 100% of their deposits and the UK government has now negotiated a repayment schedule to recover 100% of the money used to support depositors, in addition to being a preferential creditor of Landsbanki Islands Hf, the 1600 savers of LG have received 30% of their deposits with the possibility of recovering only 80% over several years. In addition LG is classed as an ordinary creditor with regard to Landsbanki Islands Hf and as such will receive 0% of any payment made to creditors.