The next big hurdle for the Manx government's Scheme of Arrangement for Kaupthing depositors could be cleared today.

The government will hope it is approved by Acting Deemster Andrew Corlett at the High Court this morning, but protesting depositors are still demanding an alternative course of action.

Our business editor John Moss reports (text, below, from attached audio file):

The protesters, and its difficult to say how many will arrive outside the courthouse this morning, will demand direct discussions be opened with the UK.

They claim that life is edging close to breakdown for too many of the depositors and leaflets will quote the Declaration of Human Rights, that no one shall be arbitrarily deprived of their property.

The government say the scheme offers the best hope of the largest return.

But if, or when, the deemster gives the scheme his nod, it then has to win depositors approval - 50% of those falling under the compensation scheme, 50% of those who have a greater sum invested and overall 75% in value of the deposits.

If the scheme falls at either of these hurdles, there is no alternative scheme. We would then move to liquidation of KSF and the Depositors' Compensation Scheme would kick in.