JERSEY-based investors with money in Landsbanki Guernsey say that the States of Guernsey are not doing enough to help recoup their savings from the failed bank.

Frustrated Islanders met at the Town Hall last week and called for an assurance from Guernsey’s government that something will be done to try to recover all of their funds, which were frozen when the Icelandic-owned bank went into administration on 6 October.

Savings in Guernsey are not protected by either the UK or Icelandic government guarantees. Landsbanki administrators have reimbursed customers on the basis of 30 pence for every pound deposited. However, this has left the 2,033 depositors of Landsbanki Guernsey facing a 70 per cent loss on their savings with millions of pounds estimated to have been deposited by Jersey residents.

‘A number of the depositors voiced anger and frustration over the lack of apparent effort being made by the States of Guernsey,’ a spokesperson from the Jersey committee of the Landsbanki Guernsey Depositors Action Group said after last week’s meeting.