The treasury minister says the liquidation of Kaupthing, Singer and Friedlander Isle of Man is continuing to go well.
He has been speaking in the wake of the news four former bosses of Icelandic bank Kaupthing have been given prison sentences of between five and three years.
They were charged with hiding the fact a Qatari investor bought a 5% stake in the firm with money lent - illegally - by the bank itself.
It was seen as a confidence-boosting move, just weeks before 2008's global credit crunch hit, which led to the bank's collapse.
Treasury Minister Eddie Teare:
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