3rd dividend notification

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
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Posted: Tue, 06/07/2010 - 15:22

Third distribution

The Joint Liquidators are pleased to announce that a third distribution of 11.1% will be paid on 9 July 2010 to all creditors whose claims have been agreed. This will bring the total distributions to date to 51.1%.

Announced today on the bank website :-

http://www.kaupthingsingers.co.im/Pages/2010/July/6July2010.asp
click to read the full update although there wasn't much else of note unless you haven't made your claim!!!

J.

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Payments

  • formymum
  • 13/10/08 31/05/09
  • a depositor
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  • Thu, 15/07/2010 - 10:43

I would very much appreciate some clarification.

My mother's financial summary on the DCS site correctly states that she has received UKP 50,000 in compensation payments. In checking it again this morning on her behalf, it now states in a new section entitled 'Liquidation' that there is a liquidator payment of approx UKP 8,000.

Could someone kindly clarify for me that I am correct in thinking that she will now receive this amount of approx UKP 8,000 liquidator payment, as the amount recovered against her share now stands at approx UKP 58,000 (meaning that the amounts recovered now exceed the compensation paid).

Thank you very much ...
formymum


Re payments

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 15/07/2010 - 17:11

Formymum,

If I understand you correctly, the liquidation has now paid a total of around £58000 to the DCS for your mum (ie her claim was for around £114,000). The amount over and above the £50,000 already received, namely around £8000, should therefore be paid to her by DCS in the next few days (approx 10 days after the liquidation payments on 9 July).


DCS web site?

  • Ohdear
  • 13/10/08 31/05/09
  • unspecified
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  • Thu, 15/07/2010 - 19:42

How can I check my financial summary on DCS web site? which option is it? Thanks.


re DCS web site?

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 15/07/2010 - 19:54

Ohdear,

  1. Login to DCS site
  2. "show claimant summary"
  3. Under "Financial summary": "click here to see ..."

That should do it! The amount shown as "recovered so far against your share of the above accounts" should represent 51.1% of your TOTAL balance of your account (shown at the start). If the amount recovered exceeds £50,000, you should shortly receive a furtherv payment from the DCS. If not, you have to wait a bit longer!


Thanks!

  • Ohdear
  • 13/10/08 31/05/09
  • unspecified
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  • Thu, 15/07/2010 - 21:54

Thank you.


total distributions to date

  • shellshocked
  • 23/10/08 31/05/09
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  • Mon, 12/07/2010 - 02:38

In your posting you say that (including the 3rd dividend - about to be paid) the total distributions to date will be 51.1%.

I'm a bit confused;

The first dividend, I believe, was 24.8%, the second 10% and with the third being 11.1% the total to date will be 45.9%. Is this not correct - have I missed something?

Could you please clarify


The 2nd dividend was 15.2% -

  • IceCrusher
  • 14/10/08 25/10/11
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  • Mon, 12/07/2010 - 03:12

The 2nd dividend was 15.2% - you missed 5.2% !


Dividend

  • shellshocked
  • 23/10/08 31/05/09
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  • Mon, 12/07/2010 - 05:30

Many thanks. I feel a bit happier now. I should get some more money from the DCS as a result - wonder how long they will take.

To date I have received the equivalent of 43.13% so I should get a payout of 7.97% - fingers crossed.

It's crazy we call it 'dividend'!!


3rd Div Payment

  • ASPEN
  • 13/10/08 31/05/09
  • unspecified
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  • Tue, 13/07/2010 - 06:23

Did anybody receive their 3rd payment yet as I have heard nothing from my bank?


cash back

  • sunny1
  • 16/10/08 30/05/14
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  • Wed, 14/07/2010 - 15:16

Not yet. Have checked my bank several times today. Then I checked our website.
I am DCS, and note the July 19 and 23 dates given below. Fingers crossed. Thanks for everyone's comments.


Dividend payment

  • dodot
  • 10/10/08 01/06/13
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  • Tue, 13/07/2010 - 20:05

Mine paid direct to my bank on 9 July. I had not made any claim under the DCS.


I spoke to the DCS yesteday

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
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  • Tue, 13/07/2010 - 15:20

I spoke to the DCS yesteday (they actually called me back after I left a message) and they said they hoped to begin distributing the money from July 19, that is 10 days after the JLS release it.

Let's hope.


Third Payment

  • barrona
  • 17/11/08 31/05/09
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  • Thu, 22/07/2010 - 10:48

I have been unable to speak to the DCS as their recorded message states that they don't accept recorded messages!
So I am obviously interested how Podcar got through to them!

According to the DCS site I am due to receive 2,705.00 pounds.

As of today, this amount has still not been credited to my account.

Any advice would be appreciated.


DCS phone number

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
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  • Thu, 22/07/2010 - 11:28

Hi Barrona,

I called the following number: +44 1624-681000 begin_of_the_skype_highlighting              +44 1624-681000      end_of_the_skype_highlighting. In the past, I've called Peter Halkin's direct line: +44 1624-681026 but on this one occasion, I took pity on him and decided to call their main number. I left a message with the operator and two days later, someone whose name I can't remember (a woman), called back with the information.

Hope this helps.

I've just heard from my bank that the money has already arrived. I was prepared to start getting tense from July 23 increasing to outright hysteria if the money hadn't arrived by July 31. I've been spared all that.

So, 51% has been (in the process of) returned - the situation is certainly improved from this time last year. Let's hope that the remaining 49% will come back to us all long before 2017.

Best wishes to you all,


Hi Podcar, Just confirmed

  • barrona
  • 17/11/08 31/05/09
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  • Thu, 22/07/2010 - 11:47

Hi Podcar,

Just confirmed with my bank that they have received my third payment.

Peter Halpin contacted me earlier today by email stating that their answerphone had been on the blink, hence my being unable to contact his office direct.

Hopefully, our representatives may be able to pressurize the newly elected UK government to put pressure on the IoM to do the decent thing and to reimburse the depositors with their money now.


Amen to that.

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
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  • Thu, 22/07/2010 - 18:29

Amen to that.


Hi Barrona, Good to hear the

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 22/07/2010 - 12:57

Hi Barrona,

Good to hear the DCS payments are arriving.

Re: "Hopefully, our representatives may be able to pressurize the newly elected UK government to put pressure on the IoM to do the decent thing and to reimburse the depositors with their money now." :

That is indeed what DST is trying to do with the help of our campaign team. For regular progress reports you should log in to our main site at www.ksfiomdag.com. Everyone can help by contacting their MPs (or the MP of their former constituency for expats who no longer have an MP) and asking them to sign the re-tabled EDM whose main purpose is to demonstrate support from as many UK MPs as possible. For more information, see the DST blog "EDM 63 Action Required" on this site (updated earlier today).

Contributions to the campaign fund are welcome and may be made here: http://www.ksfiomdag.com/index.php?option=com_content&view=article&id=14...


DCS Future Payments

  • Tricky Dicky
  • 24/10/08 30/05/09
  • a depositor
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  • Thu, 22/07/2010 - 11:19

Hi barrona,
The response received from DCS Scheme Manager is that following a liquidation pay out, it will take the DCS approximately 10 days to make their payments to those who are due payment and claimed under the DCS.
More information is available here : http://www.ksfiomdag.com/index.php?option=com_fireboard&Itemid=90&func=v...


DCS future payments

  • barrona
  • 17/11/08 31/05/09
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  • Thu, 22/07/2010 - 11:31

Hi Tricky Dicky,

Thanks for the reply.

The DCS, in the form of Peter Halpin, sent me a email today explaining that they have had problems with their answerphone, hence my not being able to get through to them.

May payment should hopefully, reach my bank account shortly.


Payment

  • Codpeace
  • 23/10/08 30/11/12
  • unspecified
  • Offline
  • Thu, 15/07/2010 - 12:36

How annoying is that - especially as the JLs will not accept re-assignment of the account back from the DCS!!!
The DCS originally said that this was possible but now the JLs are blocking it. I really wonder who the JLs are working for - it sure doesn't seem to be the depositor.


DCS payments

  • clodhopper
  • 18/01/09 31/05/09
  • a depositor
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  • Wed, 14/07/2010 - 12:26

We have had an email today and DCS advise it will be settling on the 23 July so hope that we had some funds before the end of this month?!

Why does it take them so long to pay out when all the mechenisms are in place from previous payments and the liquidator paid out last Friday?


Distribution

  • grapow
  • 20/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 13/07/2010 - 18:03

My life company (Aviva) confirm receipt of 11% on the due date.


Nothing to date from DCS.

  • drglowry
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 13/07/2010 - 08:24

Have received nothing from DCS. Hopefully, they will deign to let me have some of my money back soon. Cheers.


Payment of 3rd Dividend

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
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  • Tue, 13/07/2010 - 08:05

I checked my bank account on-line and the money was deposited on the 9th July as expected.
Ice


Payment of 3rd divi'

  • cottesmore
  • 21/10/08 16/07/12
  • a depositor
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  • Tue, 13/07/2010 - 17:00

I had my monies paid to my account, from the bonds held with Friends Provident International.
Just to get their extra pound of flesh from me,they charged me £18.00 to send it to my account.
What soulless,utter bastards they are! This, on top of the fees and commision they are still charging for 'running' my bonds.


That's great - it's

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
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  • Tue, 13/07/2010 - 15:22

That's great - it's happening. We're now halfway to getting our money back. I wonder how long it will take to get the rest.


,,,,but don't forget the lost interest

  • Lostinspace
  • 13/10/08 31/05/09
  • a depositor
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  • Mon, 19/07/2010 - 03:53

So half way there, and then how much more to come, and when?

Not forgetting of course all the lost interest on top since the collapse of 2008......enough to make you weep.

BTW - what you are all doing with the cash you've got back? Various clever people say that now is a really good time to invest....in something....while the market is down, but what? Other say, keep the money in the bank even at low interest....for now.

How strong are outfits like Barclays, HSBC, Santander.....really? Hmmmmm.....

LIS


Banks

  • clodhopper
  • 18/01/09 31/05/09
  • a depositor
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  • Mon, 19/07/2010 - 18:44

Not sure how strong any bank is today but interestingly the banks you mention have recently corresponded with us, and they are very keen to point out the you are only covered for £50,000! A little like the tobaco companies put health warns on their packets - too late for so many people!


Payment of 3rd Dividend

  • sam
  • 07/12/08 30/09/11
  • a depositor
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  • Tue, 13/07/2010 - 09:18

Mine also, and thanks Ice for all your info.

Sam