Council to get back £1m it deposited with Icelandic bank

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
  • Offline
Posted: Mon, 08/06/2009 - 15:26

Quote..................
A DERBYSHIRE council which deposited £1m with an Icelandic bank which later collapsed is to get all of its money back by 2012.
........... unquote

It seems Amber Vally Council have managed to make a deal with KSF UK / E&Y to get 100% of their deposit back over the next two years.

See Link:
< http://www.thisisderbyshire.co.uk/news/Council-1m-deposited-failed-Icela... >

I imagine my fellow ex-Derbyshire IoM account holders may have a few opinions on this piece of news?

Kind regards,

Mike

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ICELANDIC GOVERNMENT TO MAKE GOOD TO DEPOSITORS

  • jeffwilkins
  • 21/10/08 14/11/09
  • unspecified
  • Offline
  • Tue, 09/06/2009 - 12:08

A LOT OF INFORAMTION IN THE MEDIA BUT WHAT DOES IT MEAN FOR US.

Is this a questions which could be answered by Edwin Coe, or Mike Simpson. With the gaurantee that existed in writing from the parent company why are we not being advised that all our funds are to be returned.

Jeff Wilkins


I think if you look at the

  • thesunnysouth
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 09/06/2009 - 10:05

I think if you look at the detail no deal has been done!
They are owed a million and they are to get £100k later this year. That seems to me to be 10% which is exactly what we are expecting from E&Y. They have then been told they are likely to get back the rest over the next two years. Well lets hope that is true as the same would then apply to us.
They are not preferred but i imagine a converstaion has taken place something like 'i am sure that in all probability we can get most of your money back in the next couple of years' and that has been translated as all money back within two years and then translated into a story.


£1M is a packet of crisps.

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
  • Offline
  • Mon, 08/06/2009 - 16:33

£1M is a packet of crisps.


Its not the amount it's the deal!

  • cypheath
  • 01/11/08 30/10/09
  • a depositor
  • Offline
  • Tue, 09/06/2009 - 08:47

I wouldn't mind that packet of crisps Ice Crusher!
The fact that they have managed to do a deal when seemingly we cannot, is surely what we need to be looking at.

How many more deals will be done eroding the KSFIoM pot even further? Every penny that goes out to others presumably is a penny less for the rest of us.

If Icelandic banks are bust how come an Icelandic bank consortium have bought West Ham Football Club. Surely their debts should be paid off first. I really cannot get my head around any of this, things just seem to be going from bad to worse.

From day one it's been a total farce!


Ex-Derbyshire

  • caledonia
  • 14/10/08 30/09/09
  • a depositor
  • Offline
  • Mon, 08/06/2009 - 15:42

In the early days I recall a Derbyshire newspaper being sympathetic to our cause, running a number of articles and doing an interview. Maybe an opportune time to resurrect the contact if someone knows who the reporter was ..........??