DCS IOM are they all Idiots?

Posted 16/12/2015 - 05:32 by calpespain

2015-12-15 14

Any suggestion gladly welcomed. I am having some trouble with the IOM DCS managers, they keep writing to me and my wife via snail mail, over land and water, saying they have sent out a cheque via registered post and it has been returned. They follow this by saying that they have also attempted to contact me via my registered email address, but cannot do so, would I please contact them. I have done this via email and they have acknowledged this and my banking details, yet still the write and say” Please accept our apologies for the distress you are experiencing in the delay in receiving your outstanding payments. Please be assured we are expediting the authorisation as quickly as possible however the timing of this is outside our control. As mentioned in my earlier email I will contact you again as soon as the payments have been delivered to our bank for processing.” Yet they are still sending me even more land mail and still no payment of the outstanding amount due since December 2014. Are they all simply idiots?

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Latest from Iceland

Posted 24/09/2012 - 12:57 by Tricky Dicky

2012-09-20 22

As disclosed at Kaupthing’s Creditors’ Meeting on 31 May 2012, Kaupthing has been working in close consultation with the Informal Creditors’ Committee and their respective advisers on a potential composition proposal. Whilst good progress has been made, a number of outstanding matters, including some that are not within the Winding-up Committee’s control, are still being resolved and it will not be possible to launch a composition proposal in the third quarter of 2012, as previously targeted. Kaupthing is currently working with its advisers and the Informal Creditors’ Committee towards a launch in the fourth quarter of 2012, assuming satisfactory resolution of the outstanding issues and no new issues arising.

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Loan Trust

Posted 28/12/2010 - 00:46 by bellyup

Who exactly is proposing a loan trust to the IOM?

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Deposit Compensation Limit to increase to 85,000 pounds

Posted 21/12/2010 - 11:25 by barrona

2010-12-21 (All day)

The UK FSA has confirmed with effect from 31/12/2010, the new deposit compensation limit for the UK will increase from 50,000 pounds to 85,000.00 pr person, per authorised firm.

The revisd sum is the sterling equivalent of the 100,000 euro compensation limit which comes into force in all European Economic Area (EEA) Member states at the end of the year.

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Today's News from Iceland

Posted 31/12/2009 - 15:02 by grapow

2009-12-31 (All day)

Does anyone know if Iceland's apparent pledge to make good losses in Holland & UK has any bearing on the IofM situation. Since we have been told by all governmental bodies that the UK represents IofM in matters relating to international affairs it is hard to belive that this is anything but good news. Does anyone have a view?

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Letter from Alistair Darling Chancellor to Rt Hon John Denham MP

Posted 23/11/2009 - 20:41 by Anonymous

2009-11-23 (All day)

Response from Alistair Darliing via Local MP John Denham Southampton Itchen..
with regard to HMG involvement in the Crash of KSF IOM.

See Letters X2
Notes 1-5

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FSC under select committee microscope in IOM today

2009-10-28 (All day)

FSC under select committee microscope
Published online at 28/10/2009 07:00:00

The legislative buildings in Douglas

The Select Committee of Tynwald which is looking at the Kaupthing Singer and Friedlander collapse and the Depositors' Compensation Scheme is meeting this morning.

It will hear evidence from the Financial Supervision Commission.

The venue is the Millennium Room in the Legislative Buildings on Finch Road, Douglas and evidence is being taken in public so everybody is welcome to attend.

Start time for meeting: 10am.

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Tories would change FSA

2009-07-18 23
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Treasury Select Committee meeting 3-Feb-2009 audio (mp3)

This audio content is copyright 2009 UK Parliament
Approx. 2 hours duration. mp3.

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Depositors in IoM shafted by UK Govt over money frozen in KSFUK

2009-01-23 (All day)

Depositors in the Isle of Man branch of bust Icelandic bank Kaupthing Singer Friedlander may not elicit huge public sympathy, but there are non-tax dodgers among them who have been well and truly hung out to dry by a British government that has long encouraged banking in the crown dependencies.

Just before Kaupthing went under in October, the Isle of Man branch forwarded £530m of its customer deposits to the bank’s London branch. This did not give the depositors any protection under the UK financial services compensation scheme, because their cash had been deposited on the Isle of Man; and the money is now available to pay off the banks’ UK, rather than Manx, depositors and creditors instead.
The £530m transaction followed discussions, which remain shrouded in mystery, between the British and Manx regulators. Soon afterwards, Kaupthing collapsed and the Treasury froze its assets here in the UK, insisting that none of the deposits by then over here should be returned to the Isle of Man.

When it comes to negotiating compensation from the Icelandic government, the depositors are now reliant on the British government, a task that the Whitehall department responsible, the Ministry of Justice, has palmed off to a Treasury notoriously dismissive of the depositors’ plight.

Last month MoJ minister Lord Bach nonetheless insisted everything was fine. Asked at a parliamentary committee hearing whether he was sure “those [Isle of Man] depositors’ interests are now safeguarded, insofar as any depositors’ interests are safeguarded in the UK?” he replied categorically: “Yes I am.” But a swift bollocking from the Treasury must have followed, for by the time the transcript of the hearing appeared a footnote had been added: “Note by witness: I am satisfied by the steps taken by the UK government in the interests of the people whose deposits the UK regulatory authorities are responsible for.” In other words, not those in the Isle of Man. For IoM depositors who might have got their hopes up, this translates as: you’re still shafted.

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