Liquidation of the collapsed Kaupthing Singer and Friedlander bank has been averted for a third time.
A court hearing has been adjourned until April 9 to allow final details to be added to the Manx government’s proposed Scheme of Arrangement, seen by some as preferable to a winding-up of the bank.
In court today, depositors have been finding out more about the Treasury scheme, which aims to repay small depositors more quickly.
Deputy Deemster Andrew Corlett said he had concerns about the timescale but had no doubt the scheme would be of the highest quality.
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