UK tax haven faces Brown, Obama Challenge

| 16/01/2009

(Bloomberg): The three-legged emblem on the red Isle of Man flag in Allan Bell’s office has a motto that the British tax haven’s treasury minister hopes stays true. “Whichever way youthrow me, I stand,” Bell said. That resilience is now being tested. The self-governing island is in a tug-of-war with U.K. Prime Minister Gordon Brown over deposits in collapsed Icelandic lender Kaupthing Bank Hf and will find out Jan. 29 whether it will have to activate a compensation plan for savers. Go to article

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