Appointment of spokesperson

  • ng
  • 11/10/08 31/12/20
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Posted: Sun, 12/10/2008 - 18:07

Spokesperson or group. First stage is nominations I guess. Then an "election" by another poll.

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Action Update - Q&A

  • 491
  • 11/10/08 31/05/09
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  • Tue, 14/10/2008 - 21:19

Thanks to everyone for sending questions for proposed meetings with IOM Govt and PWC. I've received over a hundred questions. I've been working to compile, condense sort etc. Should complete this, but a bit later tonight than I though. It might be more like 3am. Just to give you the update: It's in process and I beg your patients. I'm liaising with Hopper and Expat regarding appropriate meetings. I'm hoping Friday or Monday, but this is not confirmed. Will keep you posted. Blair


BBlair - something for questions?

  • Anonymous
  • Offline
  • Tue, 14/10/2008 - 21:32

The entry entitled ""MP acknowledges double standard in compensating Icesave"" may be useful to include in Q&A, meetings etc?


Lets get on with getting a Spokesperson and supporting cast

  • Diver
  • 11/10/08 31/05/09
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  • Tue, 14/10/2008 - 17:35

I think we need to have our Spokesperson appointed officially by the end of the day. At least that will give us someone to point the media to. Also we need to see who wishes to help this person out.

I'd like to volunteer to be one of the people behind the scenes that helps out with whatever needs doing or organising. I work for myself (that might not be for much longer) so I have flexibility in my schedule, I'm a qualified accountant, I'm based in London and I have a hell of a lot depending on the outcome of this so you could say I was incentivised.


spokesperson/group

  • Anonymous
  • Offline
  • Tue, 14/10/2008 - 20:07

Unable to log on today but fully support spokesperson/group moving forward. Not sure what's going on behind the scenes but feeling uncomfortable with lack of info. See the media interest but support group approach.

To our IT specialist. Can we have a forum 'todays actions' that summarises everything that has happened at the end of each day with regards to meetings held by spokespeople? I know thats extra admin work but may be worthwhile?

Not sure what I can do to help but willing to do whatever I can in terms of support to that group.
Thank you.


Minister for Isle of Man affairs

  • JD
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:03

Yes who is this - can someone please find out and post the contact here


Minister for Isle of Man Affairs

  • cold-dose
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:05

Lord Willie Black, Department of Justice

Ultimately comes under Secretary of State for Justice/Lord Chancellor Jack Straw, who is also Privy Councillor for Manx Affairs.


Small correction

  • David9J
  • 10/10/08 31/05/09
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  • Tue, 14/10/2008 - 21:26

His name is Lord William (Willie) Bach

More details here:

http://www.justice.gov.uk/about/bach.htm

Contact details per the 'contact us' link on the top right corner of the page. I sent him a faxed letter yesterday urging him to intervene to ensure that UK Govt discharges its duty to represent IOM savers in negotiations with the Icelandic Govt.


Face to face

  • john78
  • 12/10/08 31/05/09
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  • Mon, 13/10/2008 - 21:01

Totally agree with you Blair. Only way is to tackle head-on and get a status on what is happening. Good luck. I dont know if PWC Mr Simpson will be willingly to divulge the institutions that have an active interest in the KSF IOM assets - I for one would be happy for my account to be switched to another name - at least 100% cover would apply..
I would be interested to know who ( Minister ) in the UK Govn is responible for IOM affairs, as he/she is also perhaps the 'key' to a resolution..


Meeting

  • Elpasout
  • 10/10/08 31/08/09
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  • Mon, 13/10/2008 - 21:39

Blair - can you make a meeting in IOM 2moro, Weds or Thurs if one were arranged? (might be silly question - not sure where u based)


Meetings?

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 19:47

No to Wednesday. Probably not Thursday. I'm shooting for Friday or Monday.
What meeting is this? Blair


The one that people are clamouring for

  • Elpasout
  • 10/10/08 31/08/09
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  • Tue, 14/10/2008 - 20:24

The one that people are clamouring for but which seems to be beyond our ability to organise. :-(

There have been so many calls for a meeting in different threads - which all get buried because of the structure of the site (no disrepect ng - you have done a fantastic job!).

People are prepared to travel to London or Douglas to set in motion (properly) a committe with a strategy and a remit to carry it out.

As you have been one of the voices which have been be heard and respected I was asking you (as part of that thread) if you were able to get to such a meeting - and where/when.


Monday Meetings?

  • Diver
  • 11/10/08 31/05/09
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  • Tue, 14/10/2008 - 20:38

By this coming Monday the authorities (pick any or all) should have had plenty of time to digest everything they need to and those depositors who have been working behind the scenes should have had plenty of time to get our message accross. So, i suggest a meeting for Monday 20th October (Douglas seems the logical place as that's where all the work is being done apparently) where by we can meet face to face and find out what has been going on/been discussed. In addition, if we could arrange an additional meeting with the liquidator for later on in the day that would be a bonus.

If we're going to do this we need to decide sooner rather than later.

Any thoughts?


Thanks John. We could

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:27

Thanks John. We could include your comments in the list of questions. Blair


Institutional Deposits

  • barbados
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:05

I heard from a very relaible source today that Isle of Man Life Companies have >£250m invested and Dublin life companies had £100m. I also heard Isle of Man Govt had £120m invested anyone able to verify that this is accurate?


IOM Govt money not with bank

  • Stakeknife
  • 13/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:45

IOM Govt money not with bank but the s&f investment management company


Aye

  • 1log
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 18:57

Completely agree


Call for Questions

  • 491
  • 11/10/08 31/05/09
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  • Mon, 13/10/2008 - 18:06

Hello All,

Earlier today I called for a liaison with IOM's Tony Brown and PWC's Mike Simpson. Many seemed to be in agreement. I'm in the process of formulating questions for these individuals assuming meetings or teleconferences can be scheduled and ive invited all to email me their own questions and concerns to be put forward. So far I've only had two emails. Please email me your input and questions to b.blair(AT)rocketmail(DOT)com. You could post them here in the alternative, I'm just trying to take some stuff "offline".

I'd like to contact Expat directly to discuss this - see if he's in agreement. Does anyone have his email address?

Cheers. Blair


examiner newspaper 131008

  • jg
  • 13/10/08 31/05/09
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  • Mon, 13/10/2008 - 21:16

In todays newspaper it seems to say that 2 members of financial supervision commision were directors of ksf I have to wonder if this was a conflict of interest


questions

  • HOPPER
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:14

have just emailed you some possible questions (to your yahoo address)


Thanks Hopper. Will pull

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:24

Thanks Hopper. Will pull this together and revert back to you tomorrow. Might be late tomorrow - my day is jammed. Blair


Issues for Clarification

  • DXB
  • 12/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 19:44

Suggested issues for clarification (these have previously been mentioned by others on this site):
(1) Status and terms of the parent company guarantee (for what it's worth - which may not be much if Kaupthing hf is insolvent).
(2) Status update on UK negotiations with the Icelandic authorities on behalf of the IoM.
(3) What other steps (if any) the IoM authorities are taking to protect/advance depositor interests (particularly in relation to the recovery of amounts over the DCS limit).

You may also wish to put it to the IoM authorities that they need to be (and be seen to be) proactive about depositor protection, particularly in view of the full deposit guarantees being offered in a growing list of jurisdictions. Savings deposits are meant to be low risk, and retail depositors in particular require regulatory protection because we are not in a position to carry out extensive due diligence into the institutions we bank with. There is a significant reputational risk to the IoM as a financial centre if the IoM authorities fail to respond adequately to the situation.

Good luck!


Thanks for this input DXB. I

  • 491
  • 11/10/08 31/05/09
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  • Mon, 13/10/2008 - 21:25

Thanks for this input DXB. I will be pulling this together tomorrow. Blair


Hello

  • masu
  • 10/10/08 30/04/14
  • a depositor
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  • Mon, 13/10/2008 - 18:57

Can not access your email
thks


others have. maybe check the

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 19:01

others have. maybe check the spelling. b.blair(AT)rocketmail(DOT)com


difficulties

  • masu
  • 10/10/08 30/04/14
  • a depositor
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  • Mon, 13/10/2008 - 19:16

still no luck... +Having great difficulty with site today
Thks


bblair - please go to "my

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 19:20

bblair - please go to "my account" on the left, then "edit" page, then make sure your email address is entered and the "personal contact form" checkbox is ticked. This way any registered user can send you an email to the address you entered without you having to post it publicly, by clicking on your username, and then using the contact form.


Thanks Occams... will do.

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:17

Thanks Occams... will do.


Questions

  • thesunnysouth
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 18:55

Hi BB,
I know it will be difficult for PWC to give much information particularly if still negotiating with would be buyers and tracking down asets. However
Can he tell us
1. How much has been deposited in KSFIoM?
2. Where, roughly this money is, in the UK stock exchange, in KSF london etc
3. An honest opinion as to how much we can retrieve with relative ease (sell stocks, call in debts etc) and how much is in banks in the UK or Iceland and will need more work to retrieve.
We have had several people suggest that the bank was liquid and that the majority of its funds are still available. The above detail would, if positive, calm a lot of nerves.


Approximately 65% stuck in

  • Stakeknife
  • 13/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:09

Approximately 65% stuck in London, 15% or so with other banks and the rest secured against high value london property


Clarity re assets

  • thesunnysouth
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 21:21

Hi Insideline its good to have your help. By the sounds of it the majority of the money is with the london bank which is now under UK govt control and therefore the funds should at some point be released? 15% with other banks should be recoverable unless you are referring to Icelandic banks (would be nice to know if that is the case). The rest in high value properties which again are realisable assets presumably which suggests that if we get the UK govt to hand back the IoM money we should be able to get the bank solvent again? Would the assets cover the cost of deposits?


Thanks SunnySouth. Yep -

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 18:59

Thanks SunnySouth. Yep - these guys are gonna be busy for sure. But if/when we can get an audience, we'll be ready with our Qs! Blair


Have sent

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 18:40

I've sent some questions over so please let me know if you haven't received them within the next 10 mins or so and I can resend. Thanks!


Aye & Message from Liquidator

  • Spongebob
  • 10/10/08 31/05/09
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  • Mon, 13/10/2008 - 14:51

Aye indeed!
Please note that the liquidator has now posted a message on:

http://www.kaupthingsingers.co.uk

.... promising to 'keep you as fully informed of the situation via this website as I am able as matters progress.'


KSF UK

  • cold-dose
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 15:08

That message is posted by the administrators of KSF UK, not the provisional liquidator of KSF(IOM).

However, the status of KSF UK is very much key to resolving the issues with KSF(IOM) and getting everyone's money returned, whether still in KSF(IOM) accounts or 'in flight' to elsewhere.

KSF(IOM) is a wholesale depositor in KSF UK. The relevant part of the administrators' message is here: http://www.kaupthingsingers.co.uk/Pages/3965


Proceeding

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 14:49

Ok, there seems to be support for what I'm suggesting. And I think we can assume by popular acclaimation that Expat is the guy to advance this initiative in IOM. (Who else is in IOM?) While I haven't heard from Expat (he may be busy), I will proceed assuming he's on board. What I plan to do in the next 18 hours is to compile a series of key questions assuming a direct audience with Tony Brown (IOM Chief Minister) and Mike Simpson (the PWC Liquidator of KSF (IOM)). I would really very much appreciate input on formulating these questions, and to that end would invite people to email questions to me directly at b.blair(AT)rocketmail.com. I will then compile and condense these questions pass them on to Expat (or whoever is in the IOM) and post them in this forum. In parallel with the formulation of the question list, I will explore with others how meetings can be scheduled with Brown and Simpson. Blair

NG - Can we have a new Forum Topic just for ongoing liaison with key players "Liaison - Key Players"


AYE

  • Mandy_Italy
  • 13/10/08 31/03/10
  • a depositor
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  • Mon, 13/10/2008 - 18:55

Fully agree.
Being unable to logon for most of the day


AYE

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Mon, 13/10/2008 - 15:24

You have my vote.
I have not seen Expat online for sometime, however I have e-mailed him and asked him to log on and confirm if he will be our Spokesman.


Aye

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 14:41

Aye Aye Aye...let's just do it


Aye from Me

  • madmax836
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 15:52

Aye, Oui, Yes lets go for it


7-8(?) Ayes in 2 hours 76 users online - what do you want?

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
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  • Mon, 13/10/2008 - 14:12

Why haven't the 76 users showing currently on- line said "AYE"??
What do you want?


AYE

  • kiwi38
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 14:34

AYE - sorry for delay, out on the school run!


Aye

  • frozenrover
  • 11/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 14:19

Agree - has been difficult to login


bblair proposal

  • wood
  • 12/10/08 30/05/13
  • a depositor
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  • Mon, 13/10/2008 - 13:34

AYE, wholeheartedly


aye

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 16:19

aye


AYE to BBlair but site is very slow now

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
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  • Mon, 13/10/2008 - 13:09

I imagine everyone will say "Aye" .
Perhaps we should actually ask people to say "NO"instead within 60 -120mins. if they want to handle their own affairs individually.


Short Term Plan

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 12:12

I think there is general agreement that a spokesperson and team would be a good idea, but it's clear that this idea is not moving too quickly (we don't know who's willing, present, able and we'd need a process of nomination and election that could take valuable time). As an interim measure, I'm suggesting here (repeated in other Forum Topics), that we quickly nominate whoever is on the IOM (Expat and Others?) to run with a short term (3 day) communications initiative as outlined below. Why? Because the situation is very fluid and changing every day. It’s important before things become too settled (possibly against our interests) that we get information and ensure representation. These (IMHO) are the first important steps to achieving 100% recovery. (We can worry about democratic election of an official long term spokesperson and his/her team next week when we see how things lay and who can be permanently encamped in IOM). So I propose the following.

Short Term Objectives (3 days)


  1. Get Current Status Update from IOM Govt and PWC:
    If we are informed we can make better decisions as a group and right now there is very little on-the-record information. We can draft questions for this later today.

  2. Ensure Representation:
    There are political talks between Iceland and UK – and the first assurance we need is that the IOM Chief Minister’s request for UK representation of our interests at these talks has been officially accepted. I’m not hearing it and until I do I will assume the opposite. If it is confirmed that UK govt is in there only for its own interests then I suggest that Tony Brown get on a plane to Reykjavik…pronto. And I think this group can do much to influence that flight. But lets find out first… officially.

  3. Establish a Regular Process of Reporting from IOM govt and PWC":
    Our interim IOM spokesperson can also request a regular meeting / briefing from the IOM govt and PWC. I propose that our spokesperson have meetings or teleconferences with IOM Chief Minister and PWC liquidator twice weekly. On the record. 30 minutes. What’s going on? Teleconferences can be very useful because everyone can dial in to listen. Questions put by our spokesperson could be formulated here prior to each meeting. I think this would go a long way to addressing the anxiety that is pervasive.

To accomplish these objectives, I propose that our best representative in IOM (I’d suggest Expat if he’s willing) take a series of questions (drafted in this forum in the next 12 hours) to an on-the-record meeting with the IOM Chief Minister and the PWC liquidator.

I can help support this initiative - drafting coordinating questions from others etc, but I'm not in IOM. (I may go there shortly if it would help and if we can get the audiences we need).

Thoughts? All those in favor say "aye".

Blair


spokesperson

  • Fred
  • 13/10/08 31/05/09
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  • Mon, 13/10/2008 - 16:14

Aye!!

I think it is imperitive that a depositor be appointed to represent the interests of all depositors. If Expat is willing to take on the responsibility, he has my vote/support.

I am concedrned that the longer this drags on, the less likely it will be that we get anything. I am also concerned the the UK government has no incentive to aggressively pursue the interest of the IOM in convincing KSF Iceland to honor their 100% guarantee. (If as I have read the UK has frozen the assets of Icelend in the UK, using some of those funds to cover KSF IOM depositors would be a strong bargaining chip.)
How can the depositors "influence" the UK to agressively pursue this on our behalf????

I am a US citizen. I plan to contact our State Department to solicit their help in convincing Iceland to honor KSF Icelands 100% guarantee. I would hope that other US depositors would do the same.


Aye

  • MissP
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 16:14

Sorry but I have difficulty in replying to anything.


Aye

  • MissP
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 16:13

Sorry but I have difficulty in replying to anything.


Short term plan

  • thesunnysouth
  • 10/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 15:33

Aye. Sorry for delay but some work must go on.