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Welcome but 'long way to go', KSF depositor says

A depositor fighting for the return of £750,000 after the collapse of Kaupthing, Singer and Friedlander has welcomed news the liquidator is ready to make a first dividend payment.

But Stephen Thomas, who put £500,000 into KSF Isle of Man just days before the bank went under, says still there's a long way to go for 'high net worth' depositors.

Liquidator PricewaterhouseCoopers has announded a first dividend of 22p in the pound will be paid next week - much more than orginally expected.

Meanwhile, Mr Thomas has taken issue with the Treasury's Minister's comment that 75 per cent of depositors will receive 100 per cent of their money back.

He says assets recovered by the liquidator are being used to repay smaller investors - leaving less for the bigger depositors who are owed most.

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