Tynwald Select Committee - part 2

Update, 18 Oct 2010:
This submission has been fully endorsed by PPDG and should therefore be regarded as a joint submission by KSFIOMDAG and PPDG. This information has been communicated to the Select Committee.

The Select Committee is about to begin part 2 of its Inquiry covering events following the collapse of the bank.

DAG's submission was submitted to the Committee on 27 September and covers the four points identified by the Committee:
i. efforts made in relation to keeping the bank as a going concern
ii. the proposed Scheme of Arrangement; and
iii the Depositors' Compensation Scheme
iv. the adequacy of communication with depositors by the IOM authorities
together with a fifth point:
v. efforts to ensure 100% return of depositors' funds

It may be downloaded from the KSFIOMDAG.com website here: http://www.ksfiomdag.com/index.php?option=com_kb&task=article&article=15...

It is also available on the site of the Positive Action Group (PAG) here:
http://www.positiveactiongroup.org/index.php?option=com_content&view=art...

(PAG is an IOM-based group which campaigned unsuccessfully in early 2008 for a much-needed revision of the then DCS (a hasty revision was finally rushed through Tynwald the day the bank collapsed) and is cited in Appendix 1 of our Submission. They are clearly supportive of our cause and DST is in contact with them.)