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Landsbanki depositors call for public inquiry

Depositors with Landsbanki Guernsey have called for a public inquiry into the bank’s failure.

The Landsbanki Guernsey depositors action group this weekend submitted their arguments for an inquiry to deputies.

They say an investigation commissioned by the Guernsey Financial Services Commission did not address the core issues of what happened and that a public inquiry would identify its shortcomings and ensure a bank failure on the island cannot be repeated.

Spokesperson Matthew Dorman says: “The importance of the inquiry is twofold; not only to understand what happened in the run-up to Landsbanki Guernsey being placed into administration but to demonstrate that lessons have been learned and savers in Guernsey’s banking system can be sure that necessary actions have been taken to prevent a similar failure in future.’

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