Monday 22 April 2013
The Policy Council of the States of Guernsey has supported the appointment of an independent mediator who will assist in attempts to resolve some of the civil claims undertaken by the Arch Guernsey funds. The appointment will last until the end of June 2013.
The Policy Council and the UK's Financial Conduct Authority have been working together in helping to set up this mediation, and encourage all parties concerned to engage constructively with the mediator to avoid lengthy civil litigation.
Deputy Kevin Stewart, Guernsey's Minister for Commerce and Employment, commented:
"This is an independent process, but I would like to make two pleas on behalf of the government of Guernsey. The first is that the mediator be given the space to do his job, and not be expected to give a running commentary. The second is that all parties should seek to get round the table with the mediator and play their part in the process. I believe that it is in the interests of all that the parties try and resolve this as quickly as possible."
This is a voluntary and confidential process, and the Policy Council will be unable to comment further on its progress.
ENDS