The Kaupthing Singer and Friedlander liquidation is back in court today, over the issue of costs.

The Depositors' Action Group wants the Treasury to pay its legal expenses, following the failure of the Manx government's Scheme of Arrangement.

Deputy Deemster Corlett granted the winding up order, which placed KSF into liquidation, at the end of May.

The order had been put on hold for seven months, during which there were a number of court hearings, while the Scheme of Arrangement was drawn up and, eventually, voted upon.

The Depositors' Action Group was represented at the hearings by a Queen's Council and is expected to argue that the Treasury put it to this not inconsiderable expense, unnecessarily, given the rejection of the scheme by depositors.

At the winding up hearing, Deputy Deemster Corlett said he hoped the costs issue could be resolved in half a day.