IOM Today

Louis Group: ‘A taint of illegality’

Posted 15/08/2014 - 16:41 by anrigaut

2014-08-13 23

There is a ‘taint of illegality’ across the vast majority of the business carried out by the Louis Group in the Isle of Man.

That’s the damning conclusion of a liquidators’ investigation into the collapsed group which was wound up by the High Court last year, its island-based fund, promoted as ‘low risk’ having earlier been suspended, unable to pay its multi-million pounds debts. ...

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Only 3/4 of DCS claims paid - as 23/10/09

Posted 23/10/2009 - 12:19 by Alastair

2009-10-22 23

UP to a quarter of victims claiming compensation following the Island's Kaupthing bank collapse have still not get their money – some six weeks after the first pay-outs were made.
The number of claims paid under the Depositors' Compensation Scheme now totals more than 4,400, representing three quarters of all registered claims.

But pay-outs for the remaining claims have been delayed due to outstanding queries that have yet
ADVERTISEMENTto be resolved.

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FSC chief reflects on period of 'exceptional turbulence'

2009-08-06 23

FSC chief executive John Aspden describes 2008/09 as a 'period of exceptional turbulence that tested all aspects of financial regulation, as well as the soundness of the financial sector, to the full'.

A number of core banks had to be recapitalised or otherwise supported by their parent governments and 'some official responses came close to knee-jerk' leading to a 'situation which remains heavily distorted pending recovery', he added.

Mr Aspden says it was 'acutely disappointing' that in times of high stress supervisors often look inwards and prioritise action mainly for internal protection within their own jurisdictions.

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USA's 'Stop Tax Haven Abuse Act': American lobbyist talks to Chief Minister Brown. IoM might be blacklisted.

Posted 04/03/2009 - 14:49 by follow_the_tao

2009-02-13 02

IoM may well be placed on the USA blacklist.
Might we assist?

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KSF (IoM) winding up is delayed for 60 days

2008-11-27 (All day)

A PETITION to wind up Kaupthing bank was adjourned for 60 days at the High Court today - to allow time to put together a possible salvage plan.

More ......

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Bell pledges action on missing funds - doesn't rule out legal action against UK.

Posted 13/11/2008 - 09:00 by BustedFlat

2008-11-13 (All day)

Bell pledges action on missing funds - doesn't rule out legal action against UK.

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KSF Funds In Flight Not Allowed to Stand

Posted 11/11/2008 - 16:31 by BustedFlat

2008-11-11 (All day)

DEPOSITORS who tried transferring their money out of the Isle of Man's Kaupthing Singer & Friedlander bank in the days and hours before the collapse have been told their transfers will not be allowed to go ahead.

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Smalley thinks liquidation is inevitable

Posted 11/11/2008 - 09:05 by BustedFlat

2008-11-11 (All day)

Smalley thinks liquidation is inevitable and that the IOM government has only built up false hopes by delaying the liquidation.

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Manx Delegation to visit Westminster

Posted 10/11/2008 - 14:04 by Knife Edge

2008-11-10 (All day)

THE Chief Minister, the Speaker of the House of Keys, three other MHKs and government officials are this week visiting Westminster to promote good relations between the Isle of Man and the UK.

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Vince Cable agrees to fight for depositors

Posted 06/11/2008 - 08:44 by expat

2008-11-06 (All day)

ince Cable has agreed, following representations from a Mnx MHK, t support the KSF depositors

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