Offshore critic offers to help Island

The Isle of Man has an unlikely ally as it struggles to resolve the situation surrounding Kaupthing Singer and Friedlander.

Liberal Democrat MP Vince Cable, who last month called for the closure of offshore branches of nationalised United Kingdom banks, says he will help represent the Island.

Mr Cable was responding to a letter from Liberal Vannin party leader Peter Karran who asked him to for assistance, in the form of advice and influence.

Mr Cable says it’s an issue which has affected many of his constituents.

In his letter, the deputy leader of the Liberal Democrats offers closer links with the Liberal Vannin party.

He says he has contacted the Justice Select Committee, which shadows the UK Justice Secretary, who is negotiating with Iceland on the Isle of Man's behalf.

Mr Cable says "we will do our best to represent the concerns which you have about the conduct of the British government".

He calls Kaupthing Singer and Friedlander customers "a disparate lot" and says because of this, a number of different routes may be needed to recover their money.