The Times Online

Icelandic raids of offices of KPMG and PWC

2009-10-01 23

More news of the accountancy raids in Iceland

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A review of the impact on Iceland

Posted 02/10/2009 - 14:01 by Alastair

2009-09-30 23

See comments section some from DAG members or supporters.

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The forgotten victims of the credit crunch

2009-09-25 23

The panic may have subsided since last year, but many savers and investors are still fighting to reclaim their cash from collapsed banks.

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Kaupthing investors kept away from their refunds

2009-09-05 23

Investors who bought offshore bonds through the failed bank Kaupthing Singer & Friedlander on the Isle of Man fear they will get none of their money back, despite the liquidator making its first payment last week.

All depositors were paid 24.8% of their investments on Friday, according to the liquidator, Mike Simpson of Price Waterhouse Coopers, and the Isle of Man Treasury. Savers with individual deposit accounts can expect to receive further compensation on top of the liquidator’s payment, up to £50,000, under the Isle of Man’s compensation scheme.

Prospects are less clear for the thousands who invested indirectly in KSF through offshore bonds, who are not eligible for the island’s compensation scheme.

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Crackdown on tax evaders --why those with offshore assets should act now

Posted 30/08/2009 - 20:52 by Lucky Jim

2009-08-29 23

Thousands of UK taxpayers with assets abroad are being urged to review their financial affairs as the Government announces another crackdown on tax evaders.

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Kaupthing administrators double creditor payout

Posted 11/07/2009 - 10:01 by mikepapa

2009-07-09 21

The administrators to the UK arm of Kaupthing Singer & Friedlander, the collapsed Icelandic bank, have doubled a planned payment to £250 million to bondholders, but continue to reject a separate claim.

Ernst & Young, the administrators to Kaupthing Singer & Friedlander's UK operations said today that they planned to pay out 20p in the pound to creditors holding £250 million of guaranteed floating rate notes by the end of July.

.........continues

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Serious Fraud Office launches investigation into AIG’s British financial arm

Posted 13/02/2009 - 01:30 by mikepapa

2009-02-12 21

Extract from Article

The SFO is understood to be examining the merits of similar investigations into Landsbanki and Kaupthing, but has yet to launch a formal inquiry into the Icelandic banks, which collapsed last year leaving thousands of savers needing to be bailed out by the taxpayer. The SFO is believed to have been asked by politicians to look at a wide-ranging inquiry into the Icelandic banks.

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We won’t abandon savers, says Mervyn King.

Posted 09/02/2009 - 09:22 by Elpasout

2009-02-09 (All day)

MERVYN KING, the Bank of England Governor, will insist this week that the monetary policy committee’s aggressive cuts in interest rates do not mean savers in Britain have been abandoned.

He will say the best interests of savers will be served by steering the economy out of recession as rapidly as possible and returning rates to normal levels. Insiders say the Bank is not insensitive to the effect of record low rates, particularly on older savers.

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JJB Sports

Posted 14/01/2009 - 22:48 by bellyup

2009-01-14 04

Looks like KSFIOM now owns a large amount of shares in JJB which were collateral ( shares for collateral ? )for a loan.
Or at least have been taken in lieu of debt default.
Whatever next?

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Kaupthing Singer & Friedlander sues Britain over UK subsidiary

Posted 07/01/2009 - 04:42 by Hoping and coping

2009-01-06 16

The Times Online version of the KSF sues UK story.
From The Times January 7, 2009

Kaupthing Singer & Friedlander sues Britain over UK subsidiaryMichael Herman
Kaupthing is suing the Government over its handling of the stricken Icelandic bank's UK subsidiary in a legal action bankrolled by the Icelandic Government.

Lawyers for Kaupthing, formerly Iceland's largest bank, will file a lawsuit at the High Court in London today attacking the way in which Britain forced Kaupthing Singer & Friedlander into administration on October 8 last year. The lawsuit, which has the “full support” of the Icelandic authorities, including financial backing, comes after weeks of threats from Reykjavik.

[Continues]

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