Posted 27/11/2008 - 17:38 by coleridge

2008-11-27 (All day)

Dear All

I feel there are similarities between the Boston Tea Party and our predicament.

It seems as though Gordon Brown is using the KSF IOM debacle as a way of "dealing/revisiting" the status of the IOM as an Offshore International Financial Centre.
He wants to use the £550m of KSFIOM money belonging to Expats to assist in his re-election by using it to bribe the UK residents (voters) who had lost money in other Icelandic Banks.

These are serious times -- and a huge threat to the IOM (and other similar centres).

But the point is why is he doing this?

The answer lies in the fact that we are not voters. Therefore we do not count/matter.

And yet some of us are UK taxpayers.

Surely some mistake? (Ed)

I believe that ALL UK taxpayers no matter their country of Residence should be entitled to vote. When I was serving overseas in the British Army - we were entitled to vote.

Now if we can get a campaign underway then we might have a chance of being listened to. The option of course is NO TAXATION!

I am sure that the Opposition would agree to this proposal?

Thoughts invited...............................


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KSF IOM Today (in Provisional liquidation)

Posted 27/11/2008 - 13:33 by grapow

2008-11-27 (All day)

As we all understandably focus on our own woes I wonder what has happened to the staff who worked (work?) for KSFIOM. Does anyone know how many staff the business employed, whether they are being paid today (by the provisional liquidator I would guess?) and have they hung around? Apart from having some concerns for their plight too, I ask this question as I imagine that any "rescue plan", indeed if such a plan exists, would require some staff to transfer over with the rescued bank? Does anyone know the current status?

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Latest News - KSF Liquidation

Posted 27/11/2008 - 13:01 by arehman

2008-11-27 (All day)

Just heard from a reliable source that the liquidation hearing has been adjourned for a further 2 months to give negotiations to bear fruit. No doubt we will hear more shortly.

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Banks puzzled by minister’s comment

Posted 25/11/2008 - 21:27 by ng

2008-11-21 23

BRITISH citizens working abroad are unable to open a UK bank account without a permanent UK address, banks have confirmed, in contradiction of a reassurance given in the Commons by a treasury minister, writes Simon Bain.

PDF file

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Bailout may leave offshore savers stranded

2008-11-21 23

Great article by Simon Bain covering:
* depositors are NOT "wealthy"
* ... are tax payers
* expats cannot open a UK account.

PDF file

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Treasury review of Crown Dependencies announced

Posted 25/11/2008 - 11:16 by Grouville1

2008-11-25 (All day)

Review of Crown Dependencies and Overseas Territories
The Chancellor has announced that HM Treasury is to commission a review of the British offshore financial centres, their role in the global economy and their long-term business strategies. The review appears to have been prompted by concerns that the UK government could be expected to provide financial support following the failure of an offshore financial institution. Although the Chancellor's speech referred only to a review of regulatory arrangements, the proposed scope of the review is much broader, encompassing financial supervision and transparency, taxation issues relevant to financial stability, sustainability and future competitiveness, financial crisis management and international cooperation. However, the review will not consider the existing constitutional arrangements with the UK, and as a result the Channel Islands' ability to set its own laws is unlikely to be affected.

The Chief Ministers of both Jersey and Guernsey have said that the review will give an opportunity to demonstrate how strong the regulatory regimes in each Island are.

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No response from MP

Posted 23/11/2008 - 09:31 by bigloser

2008-11-23 (All day)

Not sure if I'm putting this in the right place. Nevertheless, I e-mailed Mr Treddinick, Tory MP for the Leicestershire constituency in which I own a home and in which my wife resides - I work overseas. I put my situation to him - very much the same story as the rest of the subscribers. A lot of years hard work & savings down the tube due to HMG's actions.

No response from Mr Treddinick whatsoever. Makes me a touch cynical about the whole political brood.

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Ernst & Young Statement on KSF UK

2008-11-18 23

Statement of Administrators Proposals

As filed at Companies House on 19th November 2008

Click do view/download the PDF file

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Germany's money

Posted 13/11/2008 - 21:54 by omena

Kaupthing's Resolution Committee has in recent weeks worked on an agreement with the German government on paying deposits back to customers of Kaupthing EDGE in Germany, and it is hoped that payments can be made within the next few days or weeks. Representatives of Kaupthing's Resolution Committee will meet with representatives of the German Ministry of Finance and the German Financial Supervisory Authority regarding this matter next week

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MP's reply

Posted 12/11/2008 - 10:24 by Grahame

2008-11-07 (All day)

Dear Grahame

Thank you very much for your email to Mr Hague.

The adjournment debate this evening is not one in which Mr Hague can
participate as it is between the bankbench MP who requested it and the
relevant government minister. However, Mr Hague is aware of the enormous
anxiety that this matter is causing you, and many others who are in the
same situation, and will continue to make representations on your

With kind regards

Kirsten Bird

PA to The Rt Hon William Hague MP
Rm 424, Portcullis House, Bridge Street, London SW1A 2LW
Tel: 020-7219 4611 / Fax: 020-7219 1890

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