4.8p/£ on June 28th = 95.8% return by then

  • Gordon 45
  • 22/10/08 n/a (free)
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Posted: Thu, 13/06/2013 - 13:46

Hi Folks,

So, we did not quite make the 5p/£ after another poor month. but at 4.8p/£ and a total return so far of 95.8% by 28.6.2013 it can't be bad.

Will work out my monthly data and get back to you all ASAP,

Gordon 45

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Question all DCS members should be asking themselves!!!!

  • piratepete
  • 16/10/08 31/05/09
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  • Thu, 25/07/2013 - 09:42

Hi,

I've been in contact with the DCS recently, well make that for two weeks or more, about them correcting their error which has meant my wife hasn't had her payment. Mike Fayle has admitted their error (no apology given) and passed a payment request for me for the signatories to approve. Meanwhile I've repeatedly asked him to get a ETA for me but now he won't reply to my requests. All's I want is to know when the money will be deposited so I can watch for it. I'm on the other side of the world. Its not unreasonable.

In a nut shell I rang 15 times to a phone line which no one answers, sent emails which were unanswered until Anrigaut stepped in to help. Now I ask for help from them and they won't even pick up the phone and make a two minute call to help me.

Apologies for airing my dirty linen public but ask yourselves this: Next time there's a payout, will your money be sent by the right method and if it isn't, are you going to be able to sort it out with this mob? I haven't.

Pete


Many thanks

  • piratepete
  • 16/10/08 31/05/09
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  • Wed, 17/07/2013 - 09:10

Many thanks to Anrigaut and Tricky Dicky.

I'll try again on the phone tonight but living in Australia makes it hard to call at a decent hour. I've fair dinkum rung them 15 times and all I get is the answer machine which I can't leave a message on as, in the unlikely event, someone rings me up, it'll be in the middle of the night. I'll also try a third email. The other two from Monday and Tuesday haven't been answered.

Unfortunately I've forgotten my password on the DCS site so I can't check that and to cap it all the password help on the site isn't working so I can't even get that sent to me.

I can't see after seven sucessful transfers to me and my wife the eight one should be delayed. That's why I'm worried plus angry because I can't get hold of anyone over there to find out what's happening. Makes you very cranky.

Thanks again,
Pete


@Pete

  • anrigaut
  • 19/10/08 30/10/09
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  • Wed, 17/07/2013 - 11:07

Hi again Pete,

Mike Fayle tells me that they are working on a 'skeleton staff' now as activity levels are very sporadic and that the person who deals with enquiries was off for a couple of days (which seems fair enough to me at this stage of the liquidation).

But he confirms that all email enquiries have now been responded to (and he is aware that someone - who he suspects might well be you - has indeed emailed daily since Monday!). So hopefully you will have received a reply by now. But if not, let me know and I'll send you his direct email.

i really don't think you have anything to worry about. Stay calm - I'm sure it will soon be resolved!


More help please, Anrigaut

  • piratepete
  • 16/10/08 31/05/09
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  • Thu, 18/07/2013 - 05:40

Hi Anrigaut,

Thanks for your help last night. Mike Fayle did email me back but I sent him a email reply with new info on it which has gone to the office email inbox which as far as I know isn't being answered promptly. I did reply at 0905 UK time an so far its not been replied to.

There has been a mistake on their part which I can easily prove to them but I can't do that easily or quickly if that inbox isn't being checked.

If you can give him a nudge and look at the in box I'd be grateful. If I could actually speak to someone by phone it wouldn't take two minutes to sort out.

Cheers,
Pete


For Pete

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 18/07/2013 - 07:25

Have sent you an email.

Anrigaut


Could you resend email, please?

  • piratepete
  • 16/10/08 31/05/09
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  • Thu, 18/07/2013 - 08:15

Sorry Anrigaut, I didn't get the email. My address is peterpascoe71(?)hotmail [dot] com

Cheers,
Pete


OK Pete - done. Previous was

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 18/07/2013 - 08:31

OK Pete - done.

Previous was sent via the contact button on this site, so maybe that is not up-to-date? The copy to me came through fine.


DCS IOM

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Wed, 17/07/2013 - 10:03

Hi Pete
You say you cannot find your password, can you find your wife's? The original emails with the details for access to your DCS details were sent from info(?)dcs [dot] im in (or around) July 2009, so perhaps a search of your emails or files may uncover them? - just a suggestion.
I'm sure Anrigaut will have mentioned the problems you have encountered in her email to Mike Fayle.

TD


Anyone else had trouble contacting DCS & short payment

  • piratepete
  • 16/10/08 31/05/09
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  • Wed, 17/07/2013 - 07:02

Hi,

Has anyone else had only one half of a joint account payment made? My wife's share is missing and as per usual I can't get a reply to emails or anyone to answer the phone at the DCS offices. Reminds me too much of when the bank went bust for my liking.

If there are any other fellow depositers who have made contact with the living in the DCS office, would you kindly let me know how you managed it?

Cheers,
Pete


DCS contact

  • anrigaut
  • 19/10/08 30/10/09
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  • Wed, 17/07/2013 - 08:39

Hi Pete,

As TD says, you should be able to reach them by phone. Suggest you keep trying!

In the early days of the DCS, I helped resolve a number of problems through direct contact with the scheme manager Mike Fayle who I found very cooperative. As I'm not sure he would want his direct email address posted here, I've just emailed him to say you are having a problem. Will let you know if/when he replies. Please post again if you manage to get through.


Joint Accts

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Wed, 17/07/2013 - 08:09

Hi Pete

Yes I had this problem last year, my partners details had changed re her bank acct and I had forgotten to let the DCS know, so I phoned them and it was sorted.
The only real way to resolve this is direct contact with the DCS - contact details as per https://www.dcs.im/dcs/dcs.nsf/220509

Whilst on the site it would be perhaps a good idea to check out your partners details to make sure they are correct.

TD


Recent dividend

  • barrona
  • 17/11/08 31/05/09
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  • Mon, 08/07/2013 - 06:44

Has anyone received the recent distribution from the DCS? I contacted their office last week and was told everything was ready and was waiting for the signatories to sign whatever they have to sign before the payments can be credited to the depositors' bank accounts.

I have checked my account today and my payment has not been received.

I get the feeling that they sit on depositors' money until the last moment!

The liquidators' have stated payment should be made between 28 June - 12 July!


Distribution

  • Grouville1
  • 26/10/08 n/a (free)
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  • Fri, 12/07/2013 - 12:17

My cheque arrived yesterday


Cash in bank

  • sunny1
  • 16/10/08 30/05/14
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  • Thu, 11/07/2013 - 05:44

My money was in the bank this morning. Thanks for everyone's comments.
What happens to the interest on all this cash in the DCS account for 13 days?


cash in bank

  • steve
  • 14/10/08 31/05/09
  • unspecified
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  • Thu, 11/07/2013 - 12:06

Mine was credited this morning, so I would imagine everyone has been paid out now. As for interest, well, in some perverse way, if there was ever going to be a "good" time for this debacle, the last few years have seen the lowest rates in a generation. I am trying to look on the bright side folks!! As least we have got most of it back now. I remember those awful few months in 2008 when it looked as though we were never going to see a single penny, and we expended a lot of anger, and really got nowhere with the people who should have helped. (The Derbyshire Building Society, our local MPs, the FSA etc) They all washed their hands of us. There are a few wonderful people on this site who have given so much hope (they know who they are) to the rest of us. Thank you to you all, but it looks as though we still be around waiting for the scraps for a few years yet. Enjoy the sunshine!!


Waiting for cash

  • sunny1
  • 16/10/08 30/05/14
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  • Mon, 08/07/2013 - 10:46

Barrona - see earlier correspondence below. I'm still waiting for mine.


Waiting for dividend

  • barrona
  • 17/11/08 31/05/09
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  • Mon, 08/07/2013 - 10:53

I'm still of the view, despite the 12 July deadline, and with an element of goodwill from our paymasters, that payment could have been effected by now.


DIV No 8

  • mikepapa
  • 10/10/08 n/a (free)
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  • Mon, 08/07/2013 - 15:31

Dear Barrona,

In my experience, bankers and accountants do not act on goodwill - however most of the time, they do meet their obligations. As far as I am aware, the previous 7 Dividend payments - either direct or via DCS - have always been made eventually, so just hang on until next week before you start worrying!

Kind regards,

Mike


recent dividend

  • steve
  • 14/10/08 31/05/09
  • unspecified
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  • Mon, 08/07/2013 - 06:52

not had mine yet but I am expecting it sometime this week. If I don't get it by 12th July I will chase, but I don't expect any issue with this (feeling optimistic, must be the sunshine!!)


Recent dividend

  • barrona
  • 17/11/08 31/05/09
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  • Mon, 08/07/2013 - 07:48

I'm not so optimistic I'm afraid.

There must now be a dwindling amount of depositors left so surely, am effort could have been made to ensure payment by week ending 5 July?


recent dividend

  • steve
  • 14/10/08 31/05/09
  • unspecified
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  • Mon, 08/07/2013 - 08:41

Hi. I think this is a percentage thing and not a numbers thing, so anyone who lost more than the guaranteed minimum (who left our number a few years ago) is still with us, and the same number will still be with us until the last dregs are wrung from this very worn dishcloth!! I agree it is very frustrating it is taking so long to end this sorry saga!


Exactly Steve. Indeed, if

  • anrigaut
  • 19/10/08 30/10/09
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  • Mon, 08/07/2013 - 10:16

Exactly Steve. Indeed, there will be more, and not less, payments to be processed by the DCS each time, as the compensation paid out to depositors who had not much over the £50k limit is fully recovered (by the DCS) and further payments become due to these depositors.

We are still well within the delay anticipated by the DCS ('no later than 12 July') and I see no reason to doubt that will be respected. I believe the payments - prepared by KPMG as agents for the DCS - have then to be 'signed off' by the FSC (as the official Scheme Manager), which is no doubt where the additional delay occurs.


DIV# 8 Payment

  • mikepapa
  • 10/10/08 n/a (free)
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  • Wed, 03/07/2013 - 14:52

Dear All,

Just to clarify, I receive dividends direct from Liquidator [not DCS] and have always received payments on the day declared. I also have internet access to my account, so was able to confirm safe receipt on 28th - and so passed on the good news in the shout box.

In view of the above I feel confident that payment is on its way to all, and meanwhile, the return of 95.8% is no mean achievement and indeed a great relief!

Kind regards,

Mike


Cash not yet in bank (Tuesday July 2)

  • sunny1
  • 16/10/08 30/05/14
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  • Tue, 02/07/2013 - 06:25

I'm getting anxious. Mikepapa got his cash on Friday 28th, mine hasn't yet appeared.
Have others received their 4.8% yet, or are you still waiting?
Sunny1


8th dividend

  • anrigaut
  • 19/10/08 30/10/09
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  • Tue, 02/07/2013 - 21:17

I understand that payments of the 8th dividend were indeed "processed" by the liquidators - as had been announced - on Friday 28th June. Obviously the time taken for cash to appear in depositors' bank accounts will depend also on the receiving bank (seems to have been remarkably efficient for Mikepapa!). However, I would suggest that anyone who receives dividends directly from KSFIOM (and NOT via the DCS) who has not received their cash within a few days should contact the liquidators directly at ksf(?)iom [dot] pwc [dot] com

As Tricky Dicky has said, those of us (and that includes me too) whose claims were assigned to the DCS will - as usual - have to wait a bit longer. The DCS Scheme Manager has announced that he aims to despatch payments no later that 12th July: https://www.dcs.im/dcs/dcs.nsf/220509


Still no 8th payment in my bank account

  • ianhkhi
  • 12/10/08 31/05/09
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  • Fri, 26/07/2013 - 08:20

Time for me to worry yet?

Emails sent to dcs. No reply.


@ianhkhi

  • anrigaut
  • 19/10/08 30/10/09
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  • Fri, 26/07/2013 - 09:36

I would think that if you normally receive payments from the DCS by bank transfer, then something has almost certainly gone wrong somewhere. While I don't think you need to "worry" unduly, it certainly merits investigation.

You don't say when you emailed the DCS. They will probably need to check out their records before replying, but I would expect them to reply with a couple of days.

Good luck!
Anrigaut


Funds not missing after all, but my brain is

  • ianhkhi
  • 12/10/08 31/05/09
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  • Sun, 28/07/2013 - 05:53

My apologies have been sent to DCS. They did send the 8th payment successfully, and on time. I had been checking the wrong account, having got passwords and names well and truly mixed up.
Sorry too to Anrigaut for causing unnecessary work.


US$ accounts.

By the way, my KSFIOM account was in US$. I have done a calculation (don't laugh - I know my brain's not 100%) as to what percentage of my US$ has been returned to me.

I used the US$ amounts received at the time of each payment to make my estimate.

I make it that I'm about 1.4% short compared with sterling depositors i.e. I've received 94.4% of my original US$ compared with the 95.8% received by sterling account holders. That's nowhere near as significant a difference as I had been thinking it would be, especially when you consider foreign exchange charges (from sterling) must account for a lot of that 1.5% that anyway.

Perhaps(!) my calculations are off.

Maybe other KSFIOM depositors have done similar calculations that I can compare with?


Payment #8 still not in

  • ianhkhi
  • 12/10/08 31/05/09
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  • Fri, 26/07/2013 - 14:48

DCS replied. They say they have sent the money.

Big help.


Thanks Anrigaut

  • sambururob
  • 10/10/08 n/a (free)
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  • Wed, 03/07/2013 - 17:34

Thanks Anrigaut. Keeping your eye out for us and putting people's minds at rest. It is always appreciated.
Rob & Wendy


Nothing for me yet either

  • lat
  • 06/02/09 31/05/09
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  • Tue, 02/07/2013 - 10:53

I normally receive it on dividend day too but nothing has appeared in my account yet either.


Payment of Dividends

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Tue, 02/07/2013 - 10:49

Hi sunny1

Those that are paid directly from the liquidator (as mikepapa probably is) will receive into their accounts the dividend payment at approximately the same time as the DCS manager will receive it. So if your claim is via the DCS system then it will normally be about 2 weeks after those paid out by the liquidator directly. The delay under the DCS system is caused by two things, 1. the receipt of its payment directly from the liquidator and 2. the need by the DCS system to collate and make the payments to those in their system (as I am for example).

TD


Due cate

  • sunny1
  • 16/10/08 30/05/14
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  • Tue, 02/07/2013 - 13:48

Thanks Tricky Dicky. That's good to know. I'll give it a bit longer


sunny1

  • cottesmore
  • 21/10/08 16/07/12
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  • Tue, 02/07/2013 - 07:29

Got mine yesterday.Mind you,i had to chase for it!!!


Many thanks

  • saoversoix
  • 10/10/08 02/07/13
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  • Fri, 28/06/2013 - 09:23

As always, grateful thanks for all your hard work in keeping the less financially astute among us up to date and well-informed.


Dividend payments to date

  • shellshocked
  • 23/10/08 31/05/09
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  • Wed, 19/06/2013 - 13:31

Just a very minor query. In my tattered notebook I have recorded the dividend payments to date as;

1) 24.8
2) 15.2
3) 11.1
4) 10.0
5) 12.5
6) 9.6
7) 7.6

Giving a total paid out already of 90.8
The payment about to be paid is 4.8 which makes my new total to be 95.6
Where have I gone wrong?


@shellshocked

  • anrigaut
  • 19/10/08 30/10/09
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  • Wed, 19/06/2013 - 13:45

I have a list too!

The 7th dividend was 7.8 p/£ :
http://www.kaupthingsingers.co.im/2012/june/12june2012/


Thank you :-)

  • shellshocked
  • 23/10/08 31/05/09
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  • Wed, 19/06/2013 - 14:06

Thank you :-)


That's great news!!

  • shellshocked
  • 23/10/08 31/05/09
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  • Wed, 19/06/2013 - 13:07

Just logged to check on news updates and am thrilled to see we are getting another payment.
Thank you for all who keep this site going and in particular Gordan and others who keep up the regular updates and comments. It is hugely appreciated.
;-)


..

  • chipmunk
  • 13/10/08 31/05/09
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  • Fri, 14/06/2013 - 20:10

Havn't said thanks for some time to you Gordon..really I never thought we would get 95% back and after all these years here we are.....even if its all over now and we get no more back ...we are very lucky I feel to be in this position...2008 I really thought my life savings had gone....a month later we were burgled and lost over 100K of uninsured antiques ...and back in 1995 our house was totally destroyed by fire (Lightening) and we lost everything we had at that point......but hey , all Im talking about is money and with good health (which aint that good right now) ....we managed to keepgoing and when I look around this world today I say thank God my troubles have been light indeed.....

Cheers...a few years ago I promised you a beer and somebody said you deserve the bloody brewery......here here

Chipmunk