Actions taken or being taken

  • Anonymous
  • unspecified
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Posted: Fri, 10/10/2008 - 04:35

If you are contacting someone, be it media or other, and you feel it might benefit others on the site, please give the details.

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Some action against the UK government?

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 21:57

Very good points, kiwi38.

... blaming the UK Government for pulling the trigger on us by freezing the assets of Kaupthing UK. I maintain my view that the UK Govt has played a huge role in our predicament and must step up to sort this out.

I'm coming round to that opinion too. It adds insult to injury that Brown and the UK media keep talking about protecting "British" investors. Excuse me, I am a British investor, and you've done the exact opposite of protect me, in fact creating the worst possible result, and one which I could never have imagined. I would have had a good chance of getting my money out, were it not for the actions of the UK government, and maybe the whole thing would not even have happened, at least not this year ... We now know that Iceland was economically unstable at a national level, but Kaupthing, Kaupthing UK and Kaupthing IoM were apparently sound. The British government has caused my loss, and furthermore are now sitting on my money (on the basis that the funds are in the UK, via Kaupthing UK.)

So, whilst I agree that we need to stay calm and collected I'm beginning to feel that we've been screwed by our own country, and should be taking formal action against the UK government.

Wouldn't it be nice to be one of those Kaupthing Edge UK clients? - accounts passed over to ING and business as usual.

In terms of preparation, we need to join forces with as many affected individuals as possible. I wonder how many Kaupthing IoM clients don't even know about this site, either because they retired people and don't use the Internet so much, or because they simply haven't found it yet.

Anyway, any proposals for specific action? Lobbying at No 10 perhaps? A formal complaint to the government, signed by all of us?


I totally agree

  • BlueBlue
  • 12/10/08 31/05/09
  • unspecified
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  • Wed, 15/10/2008 - 00:38

I completely agree with your idea for a petition/lobbying. I'm wondering how we ca do it - this site has so much going on and so many people sounding off, it's difficult to follow a thread, let alone unite everyone on a petition. I think there needs to be a big button at the top of every page SIGN THE PETITION TO LOBBY THE UK GOVT linking to a petition for signing online. This can then be printed out and delivered by a group of people from the sit to No. 10, in front of the media.


Expat

  • HOPPER
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 20:20

Expat. I have 12 yrs investment banking experience if you believe it can help in any ongoing discussions. I have been mainly focused on the missing chaps message board so far, because I thought I had gotten out in time. Here is an email address for me
hopperksf(?)btinternet [dot] com
£920k at stake for me, so more than willing to get involved. uk based.


Beware of spam

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 21:12

May I suggest you edit your post to obscure your email address otherwise you'll end up getting lots of spam. Most people put something like name (at) whatever (dot) com - that doesn't guarantee that the address won't get "harvested" by spammers, but reduces the chances considerably.

On the other hand, I suppose we've all got a lot more to worry about than increased spam :(


MASU I AM TRYING TO REACH YOU

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 19:37

MASU PLEASE confirm email address I am tryingh to reach you but its bouncing back


Expat

  • masu
  • 10/10/08 30/04/14
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  • Sun, 12/10/2008 - 04:41

Once again i left my email address and my mobile no . with the switchboard at the hotel x at abt 20.00hrs hrs GMT on saturday 11/10/08. I called x2 and repeated my details ..... a message is enough on the mobile . By the way you are not in my spam. Thks


More positive outcome just seen on Bloomberg's

  • sami
  • 10/10/08 31/05/09
  • a depositor
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Bloomberg

  • Alastair
  • 10/10/08 30/09/09
  • a depositor
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  • Sat, 11/10/2008 - 19:55

I see very little positive in this story from Bloomberg - for many of us compensation at the Iceland guarantee level is not going to help a great deal. Our money back from the IOM and UK inter-company loans and or the still function Kaupthing Iceland guarantee so that we have parity of treatment with Icelandic and UK retail customers is what we should demand.


I totally agree U.K.

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 19:57

I totally agree
U.K. goverment is hardly likely to cover the rest either unlike the Dutch goverment!!!


Calm

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 19:05

I have said this earlier but for now we need to be quite and wait and see what the powers that be are doing, give them time to try and resolve the issue.
Just because we are not hearing something doesnt mean nothing is going on, its in their best interest to sort this with this currentl loss of confidence in the banking system.
However if we do arrive at a time where it looks like we need to start kicking upa major fuss, then i think we need a proper media strategy. One where people arent just sending of random e mails saying god knows what. This is the media we are dealing with, one wrongly phrosed sentence and the whole thing will be twisted into making us look like money grabbing rich who want there money over a charity or something....thats not what we want. Media strategy will be required


Channel 4 News

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 19:01

Well done to Jenny who's just been on the Channel 4 News telling the country about what is happening.

I think this can only help our cause.

Keep up the good work.


Not so calm in Isle of Man

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
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  • Sat, 11/10/2008 - 18:50

The UK govt. has not been "calm" or "quiet". It seized Icelandic assets in UK; a buyer materialised for KSF UK - INGdirect; it demanded compensation for UK depositors in Icelandic banks and sent reps. from Treasury, Bank of England and FSA to Rykjavick to negociate compensation the day after the problem occurred - while no mention is made of investors in KSFIOM.
What do the people who say be calm know? Is it Isle of Man whispers in the wind ( gale - I should say) ? I am completely in the dark. No-one has said they would help us - the receiver will just do his job.


Call for calm

  • lesleys
  • 10/10/08 31/05/09
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  • Sat, 11/10/2008 - 18:24

As someone who has been so thankful for the encouragement of others on this website, I am endorsing the call for calm at this time. Please let us allow the authorities to at least have a chance to work something out that will benefit us all. I do believe that the political climate right now is very much on our side but only if we are not a contributory factor in making matters worse. If the various negotiations that are in train do not work out in the next few days there will be plenty of time for overt action.

In common with so many others, our whole life savings are at stake but I am willing to be a hopeful observer for a while longer. Whatever happens, there is probably a lot of water to yet flow under the bridge and we will all need our emotional energy to get us through: Even though the last 3 days have felt lifetime I hope we can all find the strength for another few days to let matters play out for themsleves.

What say others?


I tend to agree although the

  • Toast8
  • 11/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 18:39

I tend to agree although the publicity surrounding the current high profile talks in Iceland does not appear to have done much harm. Of course these are unlikely to help us guys. Contractors and expats have not been cut much slack by Brown and his cronies. I would expect a grain of tangible information to do the rounds early next week. Otherwise we (the silent minority) risk going down quietly. There is the argument, if I am being mischevious, that the authorities may prefer it that way.... I guess it comes down brutal economics - is there a buisiness worth taking on. The UK FSA played hardball re shotgun weddings and I hope we are in the hands of similar calibre deal makers.


Discussions in Iceland

  • frozenrover
  • 11/10/08 31/05/09
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  • Sat, 11/10/2008 - 18:04

Whilst I appreciate that the UK Gov is supposed to be representing the IOM Gov / our interests in the Icelandic discussions - are we able to get confirmation that this is actually the case and if so what was agreed ?


Discussions in Iceland

  • kiwi38
  • 11/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 18:28

Whilst there are positive sound bites coming out in the news, the IOM situation is not referenced anywhere so my fear is that the delegation is only interested in doing a deal for the UK. I can only trust in the belief that all IOM politicians have grasped the seriousness of the situation for the island and have made themselves heard loud and clear to their UK colleagues who are in Iceland doing the deal. I presume EXPAT and his crew have made sure that our case has been heard loud and clearly locally on the island and that the locals have taken our message to the UK delegation.

I agree with other postings that we cannot afford to see a run on the island banks and hopefully the IOM bankers are not stupid enough to allow 9 a.m. Monday to come around without someone, somewhere making an announcement of substance.


I can only repeat that we

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 20:04

I can only repeat that we have been assured that we have been heard and understood and this is not being swept under the carpet. More than that I cannot say, I am not an IoM person I just arrived here. Substance is hard to come by at this moment Kiwi38. But I doubt that others cannot see what is ccuring or that there is not liason going on.


Island Ministers in Iceland this weekend?

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
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  • Sat, 11/10/2008 - 17:58

Did anyone go from IOM to join in these discussions in Iceland this weekend - to represent us and the island? Does anyone in IOM know if anyone went - see the plane take off?
You would have thought they would be keen to go and get guarantees so IOM doesn't have to pay compensation.
Deals seem to being done in Iceland that are not including us because we are not represented there by IOM govt or anyone else.
Why is that? Who is going to represent us - we are all just individuals in far off places - being told to be quiet on a board where everyone has lost money?!


Link to Channel 4 News UK editorial on our plight

  • worriedsaver
  • 10/10/08 31/05/09
  • unspecified
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Important Forum message for all.

  • 208
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 17:18

This forum is now getting very worrying. Some of the ideas being put onto the forum are crazy. Why would causing a run on IOM banks help us out.
1, Our only hope to recover all our money is for the buy out to take place, A run on the banking system wouldn't inspire me to buy into it. Would it you?

2, If the buy out does fail and we do have to resort to the DCS scheme which will give us £50,000 per depositor. However if there is no banking system in the IOM due to the run on the banks we get nothing. It is funded by the banks don't forget.

Can anyone explain to me rationally how advocating the collapse of the IOM banks will help us? Also why bring other innocent people into our mess. I wouldn't wish anybody else to go through this. Do you?

Take a breather and think before you type. Please
You may not agree with me and that's your option but please think things through for the sake of everyone involved.

I repeat my earlier posting
This started when the UK government seized the assets of a solvent IOM bank. NOT THE OTHER WAY ROUND.


YOU'RE WRONG

  • JS
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 18:05

Keeping quiet will get us no where. In a week or two we will get no attention, we need to make our cause heard now while there is media interest.


Agree that we need to be

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 18:35

Agree that we need to be careful not to miss the boat in terms of media interest, but I think they'll be interested for a while yet. A few hundred of us turning up at No.10 would get some coverage, I'm sure, even if its in a couple of weeks time.


Please explain?

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 17:30

This started when the UK government seized the assets of a solvent IOM bank. NOT THE OTHER WAY ROUND.

Dave, sorry if I'm being dumb, I don't understand the point you're trying to make with that statement.


The IOM branch of KSF was

  • 208
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 18:08

The IOM branch of KSF was solvent. It loaned its assets to banks in the UK and elsewhere. Amongst the banks was KSF UK As this threatened to go into liquidationand so its assets were seized by the UK Government to protect the interests of UK investors.
Amongst its assets are approx 60% of KSF IOM money, our money. Therefore our money was seized by the UK government (Your Government if your in the UK ) and may still be there for us, the administrator, to seize back. Don't want to build your hopes up though it may be a bit more complicated than just knocking on the door and asking for our ball back.

The point I am trying to make is the IOM government had little to do with the loss of our money but it seems to being made out as the bad guy here. I'm not saying some fault may not lie with them for taking their eye of the matter but the actual money grab was made by the UK. This started the ball rolling which dragged all of us into their argument with Iceland.
Hope I have explained my point.


Thanks, now I understand! It

  • ng
  • 11/10/08 31/12/20
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  • Sat, 11/10/2008 - 18:25

Thanks, now I understand!

It was simply that I imagined "the other way round" would be This started when a solvent IOM bank seized the assets of the UK government - which obviously made no sense at all!


IOM government

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 18:21

Dave,

I understand your point, although just like the UK government is helping their citizens or depositors, the IOM government should realise what has happened (which I am sure they do), and then take action on this.

Whether this means they need to represent us in the argument that the actions by the UK authorities has caused this, or whether it means they need to assist the UK government in the talks with the Iceland government, they need to step up to the job and help us.

It is not only our money at stake here, but I believe the banking industry in IOM is very important for its economic future, and thus, it is in all of our benefit.

We should all be on the same side, and ask that justice prevail, since we've all paid our hard earned money into our accounts, and trusted the banking system in the IOM. Lets get everyone on board, and do all we can to help them sort out this mess.


I have no doubt the IOM is

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 18:29

I have no doubt the IOM is doing this. Another post referred to the provisional liquidator already having dispatched a legal team to London to look at KSFIOM funds in KSFUK, which comes as no surprise.
As for the talks in Iceland, constitutionally it is the UK that is responsible for all Isle of Man foreign affairs, IOM would not do it themselves, and I would think IOM have already made representations to the UK Treasury requesting this. That we are not hearing about the KSFIOM aspect of talks in Iceland doesn't surprise me - the media has far bigger fish on their plate in terms of what is happening globally.


solvent

  • skintagainnow
  • 10/10/08 31/05/09
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  • Sat, 11/10/2008 - 17:48

The way I understand it,, but no financial wizzkid

the IoM was still trading and had funds available to cover the run that was on it AT THAT TIME - liquid funds are still there to prove this.

The UK action stopped the IoM from being able to process outgoing funds to UK nominated accounts - hence the bank could not continue to trade as normal. Additionally it had 60% of it's funds frozen in UK with no immediate access to them - it had no choice but to close.


Dave absolutely right!! D'ont cause PANIC please!!!!!!

  • 1log
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 17:23

We are all trying to reach a sensible balance to benefit us (100% money back), keep the IOM strong and we have a chance albeit small, but still something to hope for. If we go down the route of encouraging runs, I am not sure there will be a lot left to talk about!!! So please, all think very carefully about Dave's comment.


WELL THAT'S TWO OF US

  • 208
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 17:27

WELL THAT'S TWO OF US THINKING STRAIGHT


agree with all

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 17:29

agree with all


many more than 2

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 17:41

I would say the majority of the forum is for calm rational behaviour,

specific targeting with a clear head is better than indiscriminate blasting


AGREED - THAT'S WHEY WE NEED

  • sleeplessnight
  • 10/10/08 30/06/09
  • unspecified
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  • Sun, 12/10/2008 - 00:05

AGREED - THAT'S WHEY WE NEED TO ORGANIZE NATIONAL MEETINGS TO PANIC ASAP


Apologies all -wa breast

  • sleeplessnight
  • 10/10/08 30/06/09
  • unspecified
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  • Sun, 12/10/2008 - 00:07

Apologies all -wa breast feeding when accidently activated last post - meant to read:

" agreed - that's why we need to organize national meetings and avoid panic asap"


No apologies needed it was

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Sun, 12/10/2008 - 00:15

No apologies needed it was pretty funny - I thought you'd totally lost it for a moment there!


DON'T PANIC

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sun, 12/10/2008 - 00:31

Where's my towel?


Having been away for the

  • sleeplessnight
  • 10/10/08 30/06/09
  • unspecified
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  • Sat, 11/10/2008 - 19:58

Having been away for the forum for a few hours to spend time with my family and try to focus on what is improtant in life (aside the fact we have lost our lifeline!!) I agree whole heartedly with Dave and EXPAT. Althought the temptation to yell and agree to riduclous proposals to salvage something is compounding try to think rationally - to date no savers have lost out and a bail out or take over has been there for all going concerns up to this point. The G-7 action plan has outlined that they have pledged to ensure no bank will suffer collapse - they are not about to leave on individual institution in the middle of the abyss between this pledge.

for a little irony on the subject - I am going to post my story under your stories - hopefully it will make you have a little faith!


Similar more encouraging news in www.icenews.is

  • sami
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 16:59

This refers to Icesave, but the sentiment is encouraging nevertheless...

"When asked about the commitments to IceSave, Haarde replied that Icelandic government will honour their obligations, but that they needed UK support."

http://www.icenews.is/index.php/2008/10/10/icelandic-pm-matter-finally-i...


So let's all calm down and see what news there is on Monday

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 17:33

Teams of UK and Dutch officials are coming to Iceland tonight and talks with their Icelandic counterparts will be held over the weekend.

Why Dutch? ING again?


Login issues for many people like Kiwi88

  • 1log
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 16:41

Try checking your spam box. That is where I found my login and password for this website. See you on this website soon.
I have been terribly upset but now I hope to be back on line to keep abreast latest developments.


Bloomberg: "Iceland Pledges to `Honor' Foreign Bank Deposits"

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sat, 11/10/2008 - 16:51

Some apparently very recent news here - http://www.bloomberg.com/apps/news?pid=20601102&sid=aXXW.vOmh8Ao&refer=uk
.. apologies if its not really new or has already been posted.

KSFIoM is not mentioned specifically, but given the "parental guarantee" we already know about, maybe this offers some hope.

An earlier update (less specific)
http://www.reuters.com/article/bondsNews/idUSLB53875520081011


thought for the day

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 16:18

(Comment deleted by forum moderator "occams razor")

skintagainnow - I do realise it was only a joke, and that we all could do with some humor in these times, but please remember this forum is visible to everyone on the internet. If you strongly disagree, you're fully welcome to re-instate it. (occams razor)

laugh or shoot me down --- what the ***********


I'll not bother

  • skintagainnow
  • 10/10/08 31/05/09
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  • Sat, 11/10/2008 - 18:33

:-) just the futility of things, since this happened I doupt if any of us has had sleep or anything approaching normality - bit of light-heartedness

but come on lets not lose our sense of fun, even though we probably don't feel like it in the face of everything else we have lost there's enough doom & gloom around.

my only thoughts are somehow we will come through this !!!!!


Iceland on eBay

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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thought for the day

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 17:36

dear skintagainnow,

i understand you've made a joke, although please keep the postings professional on this site.

we are expecting professional organisations to read this site to try and help our case.

we all have so much at stake here, and have worked hard for our life savings, so lets do all we can to help us move forward.

(sorry to be the serious one)


EFTA Legal Paths for EEA/Icelandic Deposit Insurance rules

  • VikingRaider
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 16:22

As most of you are no doubt aware, there were three levels of deposit security with Derbyshire Offshore that was accepted by KSFIoM upon transfer of assets in 2007. The first level was the irrevocable and binding undertaking of Kaupthing hf of Iceland to guarantee all deposits in KSFIoM. If Kaupthing hf failed to meet its responsibilities, then the Icelandic government would be responsible for the first 20,000 Euros or about £16,000 of deposits under the 'passport scheme' for deposit insurance agreed by European Economic Area (EEA) member states that includes the European Union and three of the four members of the European Free Trade Area (EFTA) Norway, Lichtenstein and Iceland (Switzerland is the fourth member of EFTA). The third level of security is the Isle of Man Deposit Insurance scheme which, as of 9/10/08 would top up the Icelandic £16,000 sum to £50,000.
The EFTA Court in Luxembourg requires national jurisdictions to hear cases before an appeal can be lodged. I found the following on Wikipedia (an expert will need to confirm its veracity).

In Restamark (Case E-1/94, 1994-1995 EFTA Court Report, 15) the EFTA Court found that it is inherent in Protocol 35 that individuals and economic operators must be entitled to invoke and to claim at the national level any rights that could be derived from the provisions of the EEA Agreement, as being or having been made part of the respective national legal order, if they are unconditional and sufficiently precise.

This means that if Iceland refuses or delays unreasonably a case there, the next step will be the EFTA Court in Luxembourg. Unfortunately, two of the three regular judges are Icelandic. I never thought I would learn so much so fast about international law!


Take action

  • aroberts2813
  • 11/10/08 31/05/09
  • unspecified
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  • Sat, 11/10/2008 - 16:07

I have put a long ramble onto this website but have failed to be IT literate and it is now sitting in the introduction section. In that ramble I made the point that I am looking into whether the directors of sfiom, the directors of ksf, the iom financial commission and the iceland financial commission have been grossly negliglent and actually acting fraudulently. I am also looking into whether the external auditors were negligent in signing off ksf iom accounts without flagging any going concern issues. I have also correspondend with the administrator from pwc and reminded him that they have a duty to the sfiom creditors and should also be thinking about legal action against the aforementioned on the basis that they could have been grossly negligent or acted in a fraudulent way. The directors have a fiduciary duty to the company of which they are director and sending all the sfiom depositors money to either ksf london of ksf iceland or wherever else without any due diligence on the financial ability of those companies to pay the money back smacks to me of gross negligent. I will bid my time on this at the moment as I believe the iom authorities are under enormous pressure to do something beyond the deposit compensation scheme. This is the future of the isle of man they hold in their hands, I know that money is already moving away from the island because of the incompetent way they initially handled this to safer havens and is unlikely to come back. The impact on the manx economy could be catastrophic, I do not use this word lightly. The manx authorities have also got vested interests as if they do not act to protect the depositors the manx economy will spiral down rapidly and then they will not have sufficient revenues to fund the civil servants gold plated pensions. This point should never be underestimated. Although the manx politicians and regulators act with supreme arrogance and almost total ignorance of what is really going on in the world I hope they know they have a short time to act, the money is on the move and it is not coming back. Michael simpson may also have vested interests as there will not be much work for accountants once the financial services industry in the island falls apart. I believe this one has a short fuse and I am a glass half full person. i do this on behalf of my elderly mother who like many of you has substantial life savings invested in ksf and was mislead. i really feel for those in a similar situation to my mother. let's keep the pressure on. manxie


I agree, calm is needed

  • christ
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 11/10/2008 - 16:06

Lets face it. We don't have much of a clue about what is going on with our situation. Why not just give it a few days fr the dust to settle and by then we will have calmed down a tad and will be thinking more clearly?
If the way all of you have been feeling over the past few days is the same as I have been feeling then you will know deep down that being rational about things is not that easy at the moment.


Calm is needed

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 11/10/2008 - 15:55

A run on the IoM banks is NOT in our best interest, together we may have £30m that wouldn't cause a ripple anywhere. I'm in this for over £200K it's everything I have (except £1,600.00 in my UK nat west current account) after that I'm finished - no work - no home - nothing -- It looks like UK dole here I come - can't claim anything in France. I just have a little better than a pile of stones in field here - no caravan - no motorhome for winter.

I need that capital back, whether it's 1 or 2 years I don't care but I have to have back, something to live on in the mean time is all I require a run on the banks now would finish that hope.

Even if the IoM economy could stand it £5K / annum for the next 10 years wouldn't do me any good.
I've been on the bones of my a**e before, the recession of the late 70's an engineering officer straight out the navy back to North East England - not a chance of work. Lost everything... house sold for negitive equity / so no money / no work / & still owe thousands - but young enough to pick up / dust off and get on with it, lie about rank, qualifications just to get work "downgrading" had to start as a labourer then fitter before I could start applying for positions my qualifications would allow (Ok so I'm not proud of some things) and work back though the system. I'm too old to do that again ---

Give the talks a chance

BTW we lost the last battle with Iceland :-) in the 70's


COD WAR

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
  • Offline
  • Sun, 12/10/2008 - 06:58

Dear Skintagainnow,

Would enjoy to swap some "sea stories" with you - I spent 6 weeks off Iceland during the cod war for HMG ....that we lost :-)
Am in similar situation as yourself, with hard won nest egg wiped out in one fell stoke via KSF-IOM / HMG.
I agree, time to stay calm and think carefully...

Cheers