Tynwald has overwhelmingly approved the transfer of ?180 million from Manx government reserves for the proposed Kaupthing Singer and Friedlander Scheme of Arrangement.
It means funding is in place for payments to be made, subject to approval being received from the High Court and creditors next month.
Under the scheme, guaranteed scheduled payments would be made, with more than 70 per cent of eligible KSF depositors being repaid in full within two years.
Only two MHKs, Brenda Cannell and Peter Karran, voted against the scheme in Tynwald today.
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