The publication of a book this autumn by the former chief executive of the collapsed Kaupthing bank has enraged depositors who lost their savings.

'Frozen Assets' is expected to include accounts of the lavish lifestyles enjoyed by some of the bank's top execs.

It's due on the shelves as thousands of KSF Isle of Man customers continue to wait for the release of ?193 million from Manx government reserves - so they can be compensated.

The Book by Armann Thorvaldsson - subtitled How I Lived Iceland's Boom and Bust - will paint a picture of the high life he and fellow high flyers enjoyed in London and Monte Carlo.

As KSF grew from a small brokerage house to a ?6 billion international bank, doors opened with the rich and famous offering its chief executive the opportunity to advise and party with big names in business and celebrities, thought to include Philp Green and Gordon Ramsay.

A spokesman for the KSF Isle of Man Depositors Action Group is quoted as saying it's distressing people such as Thorvaldsson are profting from their considerable loss.

But she expresses hope the book will also expose political and legal misdeeds which could pose difficult questions for the regulatory authorities.