False Promises

  • direstraits
  • 30/11/08 31/05/09
  • a depositor
  • Offline
Posted: Thu, 23/04/2009 - 13:57

From day one, 8th October 2008, we have been led by our noses through a series of false promises by IoM Gov which have all been designed to divert our attention away from the truth. For example, our first false promise was the bank would be sold! What happened? After three months we were told there were no takers. I wonder why? The truth is the bank could have been sold if IoM Gov had borrowed 500+ million, resurrected the bank and then sold it. Too big a risk? Not really, there is money to come from KFS UK and if UK Gov do their stuff there will be money from Iceland or even a loan from UK Gov. It would have left IoM Gov no worse off than implementing the SOA and in turn restored the confidence in IoM for Banking. The second false promise is the SOA which has taken 5 months to produce and even now is not in an acceptable form. So what is the truth? The initial diversions and subsequent SOA have been implemented solely to avoid a bank being put into liquidation on the IoM. However, there is still time for the IoM Gov to reconsider and save a perfectly good and well run bank, which was not insolvent, from its demise.

4.615385
Your rating: None Average: 4.6 (26 votes)

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

IOMT "They Just Don't Care!"

  • Anonymous
  • Offline
  • Thu, 23/04/2009 - 17:40

I have been trying now for 2 weeks to get my BACS EPS2, conflicting information,one minute its been sent next minute its going tommorrow... they can't even do that much!! with the Dithering idiots on the end of the Phone...

Poor Show thats what I say!!!!

I think the HMG has put the fear of GOD into these Island Folks they have been sitting pretty in the isle for too long, God knows what sort of mess they are in if they cant answer the phone properly..

Don't Hold your Breath!

Aurora


'Proverbial in a Brewery comes to mind'

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
  • Offline
  • Thu, 23/04/2009 - 18:18

The IOM despite being for so many years a financial centre seems to have trouble dealing with finance.

Can you imagine what will happen if they get their SOA?

Whew relief all round sit back manx men you did alright lads!

They fell for it hook line and sinker.


Next Steps

  • bdsa
  • 10/10/08 02/06/13
  • a depositor
  • Offline
  • Thu, 23/04/2009 - 18:15
  1. We put the bank into liquidation and get what we can through this route. Forget about SOA.

  2. We sue the culpable indivlduals in KSFIOM, FSC, IOMT and whoever else is responsible for this debacle for the shortfall in liquidation proceed i.e anything less than 100 percent return plus interest since October 8 2008.

  3. By means of an internet campaign we make sure that no one in their right mind ever deposits funds in IOM banks again.


@bdsa

  • Anonymous
  • Offline
  • Fri, 24/04/2009 - 13:25

Please don't confuse maximising return with revenge.

If you take legal action against every Tom, Dick and Harry there will be NO winners. (In any case, depositors won't even pay ng a reasonable amount, let alone find the £millions for legal action against people with much much greater resources and clout.

Get negotiating, not name-calling, with those who CAN help.

(No I'm not Clucas-clan or Mr Simpson's brother-in-law, neither do I have a penchant for wool-bearing animals, or my sister)


Agreement to next steps

  • jamjar
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Fri, 24/04/2009 - 12:41

BDSA.Absoleoutly Agree with your condensed comments