FSC and Hearing on the 27th

  • Bill
  • 13/10/08 n/a (free)
  • a depositor
  • Offline
Posted: Mon, 24/11/2008 - 09:18

Should we all be writing to the FSC calling for a further ajournment as we did last time? If so we had better do it right now!

0
Your rating: None

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

Christmas turkey at No 10

  • glen07
  • 21/10/08 n/a (free)
  • a depositor
  • Offline
  • Thu, 27/11/2008 - 03:58

Happy Christmas - yeah right! Hope they've got a whopper of a turkey at No 10 as there might be a few visitors with begging bowls knocking on the door...


Court Hearing - Action

  • Jo
  • 13/10/08 31/08/09
  • unspecified
  • Offline
  • Wed, 26/11/2008 - 18:59

Everyone should have a look at Jonathan Smalley's report (and associated links) and take action, if it's not too late. http://chat.ksfiomdepositors.org/news-item/developments-november-26-conc...


What Action

  • Alastair
  • 10/10/08 30/09/09
  • a depositor
  • Offline
  • Wed, 26/11/2008 - 19:41

What action prior to the hearing are you proposing?


Adjournment

  • Norm
  • 15/10/08 31/05/09
  • unspecified
  • Offline
  • Mon, 24/11/2008 - 13:08

The adjournment of the 24-Oct court hearing was granted at the request of the IoM Treasury to enable ‘high level talks to take place between the UK, representing the IoM, and the Government of Iceland’. Since then we have heard that Iceland have received a $2.1bn loan from the IMF and a further $2.5bn from the Scandinavian states. On Friday, the day after the loan was announced, it was reported (Scottish Herald) that the UK Government will now reclaim from Iceland the £2.2bn required to guarantee UK depositors funds in Icesave. No mention has been made, either by the UK Government, who was meant to be representing the IoM’s interests in these negotiations, or by the IoM Government whether there will be any benefit to IoM account holders. One can only conclude from the lack of any announcement here in the IoM that we have been left out in the cold. If that is the case, what is the point of asking for a further adjournment?


Adjourn hearing on 27th

  • peterthailandudon
  • 18/10/08 n/a (free)
  • a depositor
  • Offline
  • Mon, 24/11/2008 - 10:46

The E&Y KSF UK creditors meeting is to be held on 1st December.
Surely it is better to wait until after this meeting to take any decisions re. our bank. At the E&Y meeting we may be given some indication of what we might get back from KSFUK or at least some indication on when we might be given this information.
Unless of course the govt of the IoM has already been given this info. ( I doubt it) or they've made other plans to get us our money back -100% no less


FSC and Hearing on the 27th

  • podather
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Mon, 24/11/2008 - 09:34

Out of curiosity I called the FSC this morning to enquire as to whether it was there intention to request a furtheradjournment at this Thursdays liquidation hearing, or whetjer they had resolved the issues for which they requested the last adjourment.
I received the standard response that discussions were still taking place behind closed doors and they advised me that as of yet they had not made a decision as the whether they would be requesting a further adjournment or not.
I cant decide whether they are hopeful they can pull the old rabbit out of the hat in time or whether they want little fuss and let KSF IOm slowly sink below the surface, activate there pathetic DCS and hope we all blow away on the wind with 30p in the £ in our pockets....


FSC and hearing

  • Ally
  • 13/10/08 31/05/09
  • unspecified
  • Offline
  • Mon, 24/11/2008 - 09:49

Just for clarity

The FSC did not request an adjournment last time. It was the IoM government that requested the adjournment.

On the 27th I would again expect the FSC and PWC to remain silent in the hearing, unless either they have a solid plan for the bank, or they don't in which case they will ask for liquidation.

Likewise if the IoM government think they have a workable plan to put to the Court then I would expect them to ask for another adjournment if the plan still needs finalising. However if no one has a plan, that no one can really ask for an adjournment and the court will have to put the company in liquidation


FSC & Hearing

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
  • Offline
  • Mon, 24/11/2008 - 12:09

I was under the impression that the big money guys (220M) would be there with their legal teams to ensure that the bank was not put into liquidation, what happened to that notion?


Fat Cats: Don't Take the Pygmies for Granted with Xmas Coming

  • VikingRaider
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Mon, 24/11/2008 - 12:51

I would hazard that most small depositors (most like me from the Derbyshire Offshore era) are still willing to hold fire on the wind-up to help larger depositors, but with Christmas around the corner, don't take them for granted. If muttering among small depositors starts to include terms such as 'posh Fat Cats shouting the odds' , then soothing words may be required


I'm led to believe that all

  • Captain Mainwaring
  • 11/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 27/11/2008 - 01:30

I'm led to believe that all voting in this matter is based upon numbers and creditor value.

So it doesn't really matter who mutters and how loud they do so, everyone gets a fair crack at the whip.

Got to be honest and say that I find the term "posh fat cats" both offensive and childish, it is not anyone's business to comment like this. In fact your comments serve only to drive a wedge between members of the group. Nobody knows what the result of a vote would be at this point, let's hope that it isn't necessary to find out and that the proposals for tomorrow prove to be acceptable to all.


Humbug!

  • caledonia
  • 14/10/08 30/09/09
  • a depositor
  • Offline
  • Mon, 24/11/2008 - 15:58

Christmas .... SADLy can't get my head round that one yet !