A court hearing to decide the way forward for the collapsed bank Kaupthing Singer and Friedlander is Isle of Man is underway in Douglas.
The liquidator provisional has asked for the liquidation of the company to be held off, for the third time.
Today's adjourned hearing is seeking another 60 day delay, as attempts to save parts of the business continue.
On behalf of the government, Attorney General John Corlett has asked for another adjournment, the argument being that a slow wind-down of KSF's operations is preferable to plunging it into liquidation.
The Depositors' Compensation Scheme is only triggered from the point of liquidation and some smaller depositors want that to happen, as they say any further delay also puts back their compensation.
Mr Corlett told the court this morning the Treasury had devised a plan to pay back small depositors within two years, in three staged payments.
Those would be funded by levies on banks, loans from the government and sales of the bank's assets.
The plan would have to be approved by Tynwald, but Mr Corlett said it would allow faster payments than the government compensation scheme.
The hearing continues
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