The Isle of Man Financial Services Authority has confirmed that the Isle of Man High Court has made an order supporting the final closure of the Depositors Compensation Scheme for Kaupthing Singer & Friedlander (Isle of Man) Limited. The order provides that, from 31 July 2025, all remaining depositors are deemed to have abandoned any and all rights to claim any dividends and/or surplus interest that is unclaimed or uncollected. The order followed an application notice filed by the Authority in its capacity as Scheme Manager on 21 March 2025, after the Scheme was closed on 1 October 2024, and was made at a hearing on 19 June 2025. The Authority will take the final steps to fully close the Scheme on or after 31 July 2025.
Isle of Man Financial Services Authority 2025-06-26
Isle of Man Financial Services Authority obtains High Court order to finalise closure of the Kaupthing Singer & Friedlander Depositors Compensation Scheme
The Isle of Man Financial Services Authority announced that the Isle of Man High Court has ordered the final closure of the Depositors Compensation Scheme for Kaupthing Singer & Friedlander (Isle of Man) Limited. From 31 July 2025, remaining depositors will forfeit rights to claim any unclaimed dividends or surplus interest. The Authority will complete the closure process on or after this date.