The government of the Isle of Man has released a statement explaining that Kaupthing Singer and Freidlander depositors will receive a further GBP9,000 reimbursement from the Isle of Man government in its second Early Payment Scheme, approved by Isle of Man's parliament (the Tynwald) on February 17.
This second early payment scheme will be financed from Isle of Man Government reserves up to a total of GBP94m.
Account holders will be required to make a claim for the enhanced early payment.
Application packs will be posted out to all account holders and mailing will commence on February 27, 2009, informed the IOM’s statement.
Account holders who applied for the first early payment of up to GBP1,000 will receive a personalized application pack with a unique identifying number which will assist with the processing of their claim for the second payment. For this reason account holders who have already applied are asked to use the mailed form rather than download it from the IOM government website.
In addition to mailing the application form to all account holders, the form will also be available to download on the Isle of Man’s government website from March 10, 2009.
Account holders are asked not to submit a claim for the second early payment using documentation from the first scheme. New documentation is required as the Application Form and Memorandum of Assignment from the first scheme relate only to the original Early Payment Scheme and refer to payments of up to GBP1,000, informed the release.
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