Private Banking (including non-"Edge" deposits held by retail
Deposits held in non-"Edge" accounts with Kaupthing Singer &
Friedlander Limited (In Administration) ("KSF") have not been
transferred to ING Direct. Customers holding these deposits are
unable to withdraw funds from such accounts. However, eligible
customers under the rules of the Financial Services Compensation
Scheme ("FSCS") will receive their money in full. Further details
can be found on the FSCS website www.fscs.org.uk/consumer/ or by
telephoning 0207 892 7300. Such customers will need to apply to the
FSCS to receive their deposit and the Administrators are continuing
to work with the FSCS to contact claimants and make payments to
them as soon as possible.
KS&F is continuing to manage its current mortgage and loan
books and customers should note that existing mortgage and loan
agreements of borrowers remain in place, including provisions
relating to early repayment charges and notice periods.
The Administrators will be seeking to maximise recovery for
creditors within the terms of each agreement and subject to any
applicable regulatory requirements. Borrowers should continue to
make payments in the usual way or as otherwise agreed with
KS&F. No further loans will be provided.
Kaupthing Singer & Friedlander Private Banking, Property
Finance and Corporate Banking have also merged to create a single
department, called Banking. For more information, please contact us
Wholesale depositors are not able to withdraw funds from their
deposit accounts and will be treated as an unsecured creditor of
KS&F in the Administration. Further information for unsecured
creditors is set out in the customer & creditor
information section above.