A Kaupthing Singer and Friedlander Isle of Man depositor is calling for the United Kingdom government to release everyone's funds from the English arm of the bank.
It follows recent reports the founder of JJB Sports and chairman of Wigan Athletic Dave Whelan has managed to get ?40 million from a frozen account.
The reports suggested this was done with the help of UK chancellor Alistair Darling.
Ian Davison says this contradicts what Mr Darling has previously said about the collapsed bank's funds.
Speaking from his home in Brazil, he told Manx Radio:
"In the first TSC (Treasury Select Committee) meeting, Darling was asked if he would return the money to the Isle of Man, and his response was 'It isn't the Treasury's money'.
"Then there was a bit of stumbling around with - 'It isn't really Treasury's money exactly' apparently was what he said at that time.
"But of course now it seems, from the reports in the UK press, that he is magically able to exercise control over those monies."
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