Creditors will receive shortly a letter and attachments concerning the First Meeting of Creditors, and lodging a claim in the li

  • Anonymous
  • unspecified
  • Offline
Posted: Mon, 15/06/2009 - 14:56

"Creditors will receive shortly a letter and attachments concerning the First Meeting of Creditors, and lodging a claim in the liquidation"

Noted that the KSFIOM is sending out further letters:

http://www.kaupthingsingers.co.uk/Pages/4108

It will be interesting to see how quickly these arrive.

5
Your rating: None Average: 5 (10 votes)

Comment viewing options
Select your preferred way to display the comments and click "Save settings" to activate your changes.

First payment DCS

  • grandmaparis
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Fri, 19/06/2009 - 13:52

I phoned the Bank helpline this morning about how to fill in the Proof of Debt form. And then asked if they knew whether the first payment under the DCS was guaranteed to be £50,000. The answer was that it was unlikely to be £50,000, that there was talk of a £35,000 first payment, with a second payment "some time next year".
I then phoned the DCS and asked if they could guarantee that the first payment would be £50,000. The answer was no, it couldn't be guaranteed, that they were limited in the amounts that could be levied on the banks. I mentioned the sum of £35,000 but the man would not be drawn, nor could he give me a date for the second payment.
So, as a £200,000 depositor, I am still in a quandry about whether to apply under the DCS or not. At any rate, I agree with Julienne, I will not submit a claim until after the First Creditors' Meeting on 7th July.


DCS payments

  • Brabander
  • 15/10/08 31/05/09
  • unspecified
  • Offline
  • Fri, 19/06/2009 - 18:09

Grandmaparis, my situation is similar to yours. I have a around £260k in the bank.
I have already outlined my personal view under another thread and I have 3 good reasons why I will not apply for payments under the DCS:
1. I am not prepared to sign away my rights as a creditor to the IOMG for the simple reason that I do not trust them to represent my interests as a creditor (for good reason!)
2. I believe that, based on the information provided by the liquidator, we should have received dividends of 20-25% by the end of 09.
3. I have seen no guarantees as to when and how much we will receive under the DCS. We could therefore sign away our rights without receiving any benefit whatsoever in terms of payment timing.

I realise that depositors with much less at stake may view their loss of voting rights less important than the potential of getting their money back quicker. It is up to each individual depositor to make their own judgement.


DCS initial payout

  • mikeinfrance
  • 12/10/08 28/09/09
  • a depositor
  • Offline
  • Fri, 19/06/2009 - 17:40

grandmaparis.....I recall that it was estimated that it would cost the DCS about £250M to pay out £50K (or 100% for those under £50K) to all eligible depositors. SInce the treasury is contributing £150M and the banks the remainder (bit by bit), if all depositors were to claim through the DCS then clearly there would not be enough money available to fund a £50K initial payout. My conclusion is that it all depends on how many depositors claim DCS before the deadline (30th Jun),since only then could they calculate how much they could afford for the initial payout. another factor,which I almost forgot, is that the required payout would of course be reduced by the amount already paid out through the EPS 1 and 2 schemes,although I'm not sure if that has already been deducted from the £150M treasury contribution! I have heard the £35 K figure several times before but I imagine its no more than an estimate

Hope that all makes sense!


First payment DCS and Voting Creditors Committee

  • jmf
  • 16/10/08 31/10/09
  • a depositor
  • Offline
  • Fri, 19/06/2009 - 16:59

Unfortunately depositors who are are not sure whether to go with DCS or Liquidation will be denied the opportunity to support DAG's nominees for the Committee of Inspection on July 7. The information from the bank that grandmaparis reports -that the first DCS payment will be 35,000k with a second payment 'some time next year' - is inclining us towards payment through dividends and exercising our vote. We are hoping there will be further information from DAG STRATEGY/LEGAL TEAM on all these points


Help - proof of debt...

  • brokefirefly
  • 12/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 17:55

I'm trying to fill in my proof of debt form, but the problem is that ever since this all started, I haven't recieved a single piece of paper from the IOM bank. This means that I STILL don't have a statement as at 8 October, so I don't actually know the exact amount of my claim!

(Yes, I know this beggars belief: I was in the process of changing my address with them (to the USA) when this happened, and they lost all the paperwork. I resent it, and received e-mail confirmation that they had the correct address on record, but still no documents from them. ).

Today I spoke with someone at the bank, who began by saying that all the stuff had been send (I wonder where exactly it is!) and that everything was available on the web to download anyway.

When she finally realised that I really do need the statement, or at least I need to know the actual amount of my claim and not just an approximate, she agreed to send it tomorrow, but refused to send it airmail; she just said that everything gets sent to the post office and it's completely out of their control how they send it(!). She did agree to e-mail me the final balance on the account, and said that all I would need to make my claim to the liquidator would be my account number and the balance, I wouldn't need to send the statement. But the form says that the statement is necessary to prove the debt. I'm not holding out much hope of actually getting the statement, since nothing else has gotten through to here.

Can anyone with a better legal brain than me give me any idea which is true? do I really need to send a copy of hte statement to the liquidator with the claim? The last thing I want after all this is to be told that I'm not getting a penny back because I didn't claim correctly!!

Any help would be greatly appreciated, thanks


Help - proof of debt forms

  • grandmaparis
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 12:40

I'm not sure how to fill in the proof of debt form! I had 2 fixed term bonds, the first with maturity date of 17.03.09 and the second 25.06.09. What do I do about uncapitalised interest? The statement I received only included interest up to 9th October but the company went into liquidation on 27th May.


grandmaparis, go to bank website

  • Anonymous
  • Offline
  • Thu, 18/06/2009 - 14:50

Mike Simpson has a new posting as of today on the KSF bank's website at
http://www.kaupthingsingers.co.uk/Pages/4121

It make reference to the amount to be shown on the Proof of Debt form. Below is an extract from his posting-

"Update on completing the Proof of Debt Form
With reference to the Proof of Debt Form, attached to the letter to creditors dated 10 June 2009, we have been asked to clarify Point 3 of the form, which asks creditors to state the:

“Total amount of claim, including any Value Added Tax and outstanding uncapitalised
interest as at the date the company went into liquidation”.

Please note that this is a statutory form and, for the purposes of completing Point 3 of this form, the total amount of claim is as at the date of the commencement of the winding-up of the Company, being 9 October 2008."


Proof of debt form

  • grandmaparis
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 22:09

Many thanks, Undone, for this useful piece of information.


Just to clarify - am I correct in thinking -

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
  • Offline
  • Thu, 18/06/2009 - 08:04

Just to clarify - am I correct in thinking -
1. Basically if one's deposit was less than about GBP350,000 one should claim for the DCS ( liquidation first payment being presumed at 14 1/2 percent)??
2. ALL the forms currently to be submitted by beginning of July can be down loaded and printed from the KSF post of 12th June and mailed to IOM??
Thanks


PROXY FORMS GENERAL AND SPECIAL

  • steelwood
  • 24/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 12:32

Can some one explain who should complete and sign the CERTIFICATE at the bottom of both Proxy Forms. Is crditor and filler of the forms or some one else ????
Thanks for the clarification


leave it blank

  • chd
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 12:47

Steelwood,

I understand that the bottom half is if you get someone else to fill out the form on your behalf. If you have filled in and signed the top half I think that you need to leave the bottom half blank. That's what we did anyway.


Completing Proxy FOrms

  • steelwood
  • 24/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 13:19

Many thanks for swiss for usefull explanation


sabi, under £50,000 MUST claim DCS

  • Anonymous
  • Offline
  • Thu, 18/06/2009 - 12:21

Those depositors who have under £50,000 at risk should definitely apply for the Depositors' Compensation Scheme (DCS) if they wish to have ALL their monies returned to them. This is the only way you will qualify for the government's guarantee. If you simply apply under liquidation you will only receive a percentage of what is owed to you based on how much is retrieved by the liquidators through the sale of the bank's assets.

As I have stated many times throughout this website, the DCS claim guidelines state that if you apply for DCS you should NOT fill in and submit to the liquidators the Proof of Debt forms sent out by Michael Simpson as the Manager of the DCS will do that on behalf of all DCS claimants. Following is an extract from the DCS guidance notes-

"You should note that if you choose to claim from the Scheme it will not be necessary for you to also make a claim directly in the liquidation. The Scheme Manager will do do on your behalf. You should NOT therefore return a separate proof of debt to the Liquidator"

Here are the DCS contacts should you wish to verify what I have stated above-

Email & Phone

info(?)dcs [dot] im

+44 1624 625 680 (UK office hours only)


Claiming for DCS and ASSIGNING RIGHTS

  • jmf
  • 16/10/08 31/10/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 08:39

DAG's posting with regard to claiming is given in their blog of the 16th which may be updated around the 23rd. They say it is 'possibly better' to claim the DCS if you have between 50k and 345k. However, this means assigning rights to the DCS. HNW group in their blog of the 16th give examples to help depositors in this category to decide whether to relinquish their rights or not. It rather depends on how urgently you require payments.

It would be helpful to me if someone could give an overview on the question of relinquishing rights. I feel by doing so that I'm walking into a mine field.

Hoping to hear from DAG again.

DAG's posting:
"THE DCS (Depositors Compensation Scheme)
As you will see from the correspondence between Edwin Coe and the DCS Scheme Manager there is not yet clarity on the numerous issues raised by Edwin Coe but specifically:...

• Regarding the requirement to assign the full amount of deposit as opposed to only £50k DCS claim with the consequent impairment of depositors voting value at the 7th July creditors meeting.
• reassignment of remainder of funds after payout of the DCS
• Why have creditors been asked to complete & return DCS claims by June 30th with the resulting impact on the assignment of votes and the creditors committee
On the basis of the figures as we understand them right now there is due a 14.5% dividend under liquidation. The DCS will pay out £50k (less EPS payment), therefore we believe the following to be the only guidance that can be given:
1. Any deposit less than £50k should claim under DCS
2. Any deposit between £50k and £345k are possibly better claiming under DCS but should consider carefully that without concession on the reassignment of the remaining value of the deposit (after the first £50k is paid out), it would be assigned to the FSC.
3. Any deposit more than £345k should claim under liquidation dividend"


Agreed jmf

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 12:48

I too feel assigning rights prior to the 7th July is walking into a mine field, and one I am not really prepared to do - why have I been suffering for 8 months to now allow the IOM to vote for the return of my money on my behalf?? -- Seems a no brainier to me!! may be my brain is now fried after so long...

My BIG question is ... for those of us in the "grey area of between £50,000 and £140,000 (my half of a joint deposit) - I am better off claiming DCS £50,000 but only want to submit my claim form AFTER July 7th meeting. By doing this it would seem all I loose is the timing of my pay out which will be delayed (by how long ?? - who knows) -

The other issue is that by delaying my DCS claim and sending in my Proof of Debt along with proxy voting forms I have done what I am being told I need not do - i.e send all forms back to all parties involved.

Hope I have made myself clear here --- anyone else see the dilemma and have a solution -- or have I misread everything - grateful for any responses.


30th Jun deadline

  • mikeinfrance
  • 12/10/08 28/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 13:21

jmf, julienne,

Just thought I'd point out that this message is currntly being displayed on the DCS site:

"Some claimants may be concerned that they have less time to complete the claim process and return the necessary signed forms before 30th June 2009. This timetable was established to ensure that all claims submitted by that date, for which there were no outstanding issues, would be in the first batch of compensation payments. When access to the claims site is resumed the Scheme Manager will confirm an extension to the initial timetable so that claimants are not disadvantaged.
In the meantime, the Scheme Manager is aware that a number of claimants may not wish to assign their rights until they have had an opportunity to vote in the first creditors' meeting on 7th July 2009. Claimants in the DCS in this category may have to accept a short delay in receiving their compensation payments dpending on how the process evolves."

They are saying that the 30th Jun deadline will be extended, but there is only a 7 day window before the 7th July meeting. So the question is whether the deadline will be extended by less than 7 days or more..they don't say, nor is it clear if the site will be up and running again by tomorrow as stated !


Thanks

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
  • Offline
  • Fri, 19/06/2009 - 12:29

Thanks Mikeinfrance for the post & information.

I did see the statement you refer to but since it was also possible to download the forms from the same web site I rather felt the IOM had contradicted itself again and was offering a delayed submission date which will probably not materialise since the forms are now available without registration!! Am I being cynical??

Anyway it would seem they accept that people will defer claims until their ability to vote has passed - July 7th - so we have decided to go that route - WE DEFINITELY NEED REPRESENTATION BIG TIME on the CC and we want our vote to count.

We will submit a DCS claim form after July 7th and just accept their delayed payment - - after all they have delayed doing anything for 8 months so I may as well try to get my voice heard for any future negotiations re liquidation which represents the bulk of our money.


DCS site

  • mikeinfrance
  • 12/10/08 28/09/09
  • a depositor
  • Offline
  • Fri, 19/06/2009 - 17:19

julienne, well the site is fully functional again but no mention that I can see of the delayed submission date!


reply to mikeinfrance re DCS/Liquidation

  • jmf
  • 16/10/08 31/10/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 14:11

Thanks mikeinfrance for that information. I'm not particularly optimistic that the date will be extended beyond the 7th of July, although it would help. What I would like to know is what the Scheme Manager means by a 'short delay' when referring to claims lodged after the first closing date. Does it make any difference anyway if in the end we have to assign our full claim to the DCS if we want to receive compensation. I have had no success in trying to get any information from the Liquidator's office about the amount of dividends (other than the 14p in the pound for the first dividend) or their timing. It would make a difference to my decision if some indication were given even if there are many provisos.


I see the Claim Forms for DCS are now on www.dcs.im

  • sabi Star
  • 10/10/08 n/a (free)
  • unspecified
  • Offline
  • Thu, 18/06/2009 - 09:29

I see the Claim Form for DCS is now down loadable from the www.dcs.im web site ( it wasn't there a few days ago) for those who have not received their forms in the post and as the on-line form is not secure.
Time is fast running out to know what is best to do.
I shall mail off this form as I do not want to put my account details on insecure web site. It may take a week for the form to arrive in IOM - although I am undecided at the moment wether to apply or not.
I was aware of Edwin Coe's queries regarding the loss of rights if one a pplied for DCS but has there been any reply to that query? Will there be any ?
If one registers as creditor for liquidation instead - regarding - "proof of debt" - all I have is my account statement - which I would send a photocopy of. ( Someone has mentioned showing proof of original monies paid into the KSFIOM account - but surely that is not required - I couldn't do that).


Separate Proof of Debt for each person listed on account

  • chd
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Wed, 17/06/2009 - 09:33

Don't forget that you must fill out a separate Proof of Debt for each person that is listed on the account ie 2 joint account holders = 2 Proof of Debt Forms


Proof of debt forms

  • algarvian
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 07:51

Swiss
Your post is contrary to ther information on the Kauphing site which states:

In respect of joint accounts, one Proof of Debt should be submitted in the name of the Joint Account Holders. Dividend payments will be also be paid in the name of Joint Account Holders.


Algarvian, Can you indicate

  • chd
  • 13/10/08 30/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 08:10

Algarvian,

Can you indicate where you saw that info, as I e-mailed them (address on latest letter: branch(?)kaupthing [dot] com) to double check about how many forms needed to be filled out, and was instructed that each person on the account needed to fill out a separate form. Hmmmm????


Swiss; Proof of Debt Form

  • algarvian
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 08:36

The information is contained in the 12th. June Update under the heading First Interim Dividend to Creditors, paragraph 3.

However, here is a copy of an email and reply received a few minutes ago from John Myers at KSFIoM:

Dear Sirs

Can you please explain what is required in box 6 of the above form and clarify, in the case of joint account holders, whether each account holder should complete a separate form?

Many thanks

Hi

Each account holder needs to fill in a form and Box 6 can be left blank.

Regards

This seems to confirm your view but is contrary to the statement on the 12th. June update


Proof of Debt form

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 11:07

Confusion abounds - again!! -- Why am I not surprised!!

I queried the number of forms to be completed after reading the above postings on the subject - I actually got a reply in seconds from the liquidators .. my mail read :-

Dear Sirs
Re the Proof of debt form for KSF in liquidation

The bank website up date 12 June clearly states In respect of joint accounts, one Proof of Debt should be submitted in the name of the Joint Account Holders. Dividend payments will be also be paid in the name of Joint Account Holders.

We have returned our proof of debt (ONE FORM) by e-mail to yourselves and by post - yesterday

Now I read that you have notified another depositor with a joint holding that EACH ACCOUNT HOLDER is required to submit a form

Please clarify which is correct and make the appropiate alteration on the KSF bank website - voting rights are at risk as well as our hard earned savings!!

Their reply states :- From: Michael White (michael [dot] white(?)singers [dot] co [dot] im) on behalf of liquidation (liquidation(?)singers [dot] co [dot] im)
Dear xxxxxx

Thank you for your email. Apologies for the confusion. You are correct, only one Proof of Debt form required per joint account.

Kind regards

Let's hope Michael is right!!

Personally I am still worried.


Proof of Debt Form Joint accounts

  • expat
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 18/06/2009 - 14:50

This is from an exchange I had a few hours ago with PWC on this matter:
"I'll also take this opportunity to clarify the requirements.

The liquidator will pay dividends per account, and therefore, no accounts should be duplicated in any proof of debt forms, and each account should only appear once on a proof of debt form.

To enable this, all individual account holders should submit one proof of debt form including all accounts held. (eg. 'Mr John Smith' etc)

Joint account holders should submit one Proof of Debt form for all the accounts they hold together. (eg. 'Mr John and Mrs Mary Smith').

Additionally, where a depositor holds several joint accounts, each with a different person, (eg 'Mr John and Mrs Mary Smith', 'Mr John Smith & Master Jack Smith' and 'Mr John Smith and Miss Jill Smith') a proof of debt form should be submitted for each distinct grouping of names.

In the example provided, three proof of debt forms should be submitted, one for 'Mr John and Mrs Mary Smith', one for 'Mr John Smith & Master Jack Smith' and one for 'Mr John Smith and Miss Jill Smith', including all accounts held under those names.

Essentially, we require one Proof of debt form for each different combination of account holders.

Combining the examples above, John Smith, would submit be submitting four proof of debts in total; one proof of debt as an individual, and 3 proofs of debt as a joint account holder, one each with his wife, his son and his daughter.

I hope that this helps clarify the requirements".

So the upshot is that a joint account needs ONE Form as the joint account holders are a single entity for the purposes of the liquidation.


Mistake - please remove!

  • colinalvin63
  • 28/10/08 n/a (free)
  • a depositor
  • Offline
  • Wed, 17/06/2009 - 22:12

Mistake - please remove!


Example Proof Of Debt Form Completion

  • colinalvin63
  • 28/10/08 n/a (free)
  • a depositor
  • Offline
  • Wed, 17/06/2009 - 16:33

Has anybody completed this form successfully yet ?

If you fully understand it and are able to post an example of the completed form on here, it would be most helpful. If the example was for a sum of capital invested of £100K, it would be easy for people to comprehend the undeclared interest amounts etc. and then do the same for the sums that they have invested.

Can anyone do this to help people to complete the proof of debt form ?


Form of Proxy for 1st Creditors' Meeting and Proof of Debt

  • D RAM
  • 13/10/08 01/08/14
  • unspecified
  • Offline
  • Tue, 16/06/2009 - 16:03

I have downloaded the Joint Deemed Official Receivers' letter dated 10th June 2009 and associated attachments but am not entirely clear how to complete the Form of Proxy or the Proof of Debt.

Can somebody please advise me:

( a) if I fill in either the General Proxy or the Special Proxy appointing someone other than the Chairman of the Meeting do I still return it to the Company or should I forward it to my appointed Proxy ? If the latter to whom do I forward the Proof of Debt and supporting documentation ? The Proxy or the Company ?

(b) I note that the Special Proxy requires the creditor to write "for" or "against" and specify the particular resolution. If I write "for" or " against" each of items (i), (ii) and (iii) under Note (a) in the Special Proxy will this suffice ? ( one wonders why the resolutions were not listed in tabular form with separate boxes for "for" and "against" ?)

(c) if I opt for the Special Proxy there is a single resolution to appoint 4 members of the probable 7 person Creditors Committee. Who votes for the other 3 members ? Is it left to the discretion of the Proxy ?

(d) the Proof of Debt asks the creditor to state the amount of "uncapitalised interest". Is that the interest listed separately on the Statements issued as at 9th October 2008 by the Liquidator Provisionally ? Are these Statements acceptable to the Joint Deemed Official Receivers as substantiating documents or if not what documentation would be ?

(e) how to fill in item 6 on the Proof of Debt ? I built up my savings over many years with The Derbyshire Offshore and it would be very tedious indeed to determine when I made each and every deposit. Indeed what lies behind asking this question ? Isn't it enough to show one is a creditor ?

I'm sure I'm not alone in being somewhat puzzled how to complete and return the Form of Proxy and the Proof of Debt. It all seems unduly complicated to me and I would not in the least be surprised if there is a shambles which of course will justify retaining large numbers of ( expensive ) PWC / KSFIOM staff to sort it out !


Proof of debt form

  • mikeinfrance
  • 12/10/08 28/09/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 13:05

D RAM
AS a DCS claimant,luckily I don't need to fill in this form, which I received today,but I sympathise with those who have to. I too would have no idea how to answer Q 6. The way the question is posed it seems to me that the debt (by the bank to the creditor/depositor ) occurred when the bank's licence was removed on 8th. Oct. !!
Should not Mike Simpson be asked to explain what some of these questions really mean? The whole idea of such a form is beyond my comprehension since the bank already knows who its creditors are otherwise they wouldn't have sent you the form in the first place!


@D RAM Not being the final

  • frog
  • 10/10/08 13/09/09
  • a depositor
  • Offline
  • Tue, 16/06/2009 - 23:29

@D RAM

Not being the final authority on this - but just having filled out my one, this is what I suggest:

1: The forms (original) should be mailed to the address given in section 5.1. You should do this EVEN IF YOU HAVE EMAILED OR FAXED THE FORMS IN (mainly for the Proof of Debt form which has to be received by post for the claim to be valid and to get the distributions). You can also email them to liquidation(?)singers [dot] co [dot] im - which will ensure your vote is counted.

2: Agree with you about the complication over the resolutions - While I gave a general proxy, I'd suggest you write them out in full (to be sure it is allocated correctly)

3: The other members will be voted for during the meeting (the proxy counts here) - the KSF site will publish the names of people who have put themselves forward. Note that I have offered to serve on the committee but it isn't yet published.

4: I'm using the statement which was sent to me as it includes the capitalised interest - the uncapitalised interest is that interest that hasn't been added to the capital due to (say) a fixed term investment or annual interest not being added.

5: I just put Depositor there - it is of no relevance how the money was accumulated.

Hope that helps.


Form of Proxy and Proof of Debt

  • D RAM
  • 13/10/08 01/08/14
  • unspecified
  • Offline
  • Wed, 17/06/2009 - 00:27

Thanks, after reading your advice above and today's "HNW update" I now know what to do. I'll return the General Proxy appointing Gavin Brake and Proof of Debt directly to the Company with copy to Adrienne Liebenberg ( to keep Gavin Brake in picture ).


D RAM, if you applied for DCS

  • Anonymous
  • Offline
  • Tue, 16/06/2009 - 19:45

It is my understanding that those who have applied for the DCS will not be required to fill in and return the Proof of Debt form to the liquidator(s). See the following paragraph.

The Depositors' Compensation Scheme Claim Form guidance notes clearly state, and I quote "You should note that if you chose to claim from the Scheme it will not be necessary for you to also make a claim directly in liquidation. The Scheme Manager will do so on your behalf. You should Not therefore return a separate proof of debt to the liquidator."


Claiming under DCS

  • D RAM
  • 13/10/08 01/08/14
  • unspecified
  • Offline
  • Wed, 17/06/2009 - 09:25

Undone:

Thanks for your advice, much appreciated. Unfortunately, I'm afraid it is not worthwhile for me to claim under the DCS.


10 June Letter and Proof of Debt form

  • Fred
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Tue, 16/06/2009 - 17:38

I have not received the 10 June Letter nor can I download the information. Would somebody please post it on this site in a form it can be accessed and downloaded.


What 10th June letter and Proof of Debt Form

  • William.B.Hill.
  • 21/10/08 31/05/09
  • a depositor
  • Offline
  • Wed, 17/06/2009 - 15:24

One week on, and still no Letter or Proof of Debt Form In S.W France.
Are we going to have another Postal Fiasco like the Voting Forms ? They have never arrived.
At least IOMG can get the Post right, the DCS letter arrived within 2 days.
Can someone take MS by the hand and show him where the Post Office is?


form

  • ajrj
  • 09/11/08 31/05/09
  • a depositor
  • Offline
  • Thu, 18/06/2009 - 09:26

hi,
same thing happened to me, but i found out that when you click on the june 12 date, the actual forms appear below the screen. just scroll down and all will be revealed!
aj


Downloading letter Mike Simpson's letter of 10th June 2009

  • D RAM
  • 13/10/08 01/08/14
  • unspecified
  • Offline
  • Wed, 17/06/2009 - 09:18

I didn't have any problem downloading Mike Simpson's letter by accessing his 12th June Update on the KSFIOM webpage and then clicking on " creditors meeting and claim procedure". I don't understand why that doesn't work for you. However, if it still doesn't work for you I'm afraid my IT knowledge is not good enough to post Mike Simpson's letter on the internet. Best of luck !


Surprised we haven't had the....

  • Anonymous
  • Offline
  • Tue, 16/06/2009 - 16:40

...."what about my rights" brigade on yet.