JUDICIAL REVIEW - what's happening, please?

  • Knife Edge
  • 10/10/08 31/05/09
  • a depositor
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Posted: Fri, 30/01/2009 - 08:01

On 13 January, Edwin Coe informed us that Kaupthing hf were seeking a judicial review of the order that effectively rendered KSFIOM untenable as a business. In that update (which is on the main site under "Legal"), they said:

"Consideration will now be given as to whether the depositors action group should intervene in the judicial review by way of support."

It seems to me that this judicial review (JR) process is a good way of exerting pressure on HMG, if only because it represents another possible source of information on the circumstances surrounding the decision by HMG to make the order, which may be of potential use to us in other avenues that we are pursuing - it also keeps our plight in the spotlight - albeit it must be borne in mind that some if not all of that information may well not be allowed to be made available in a public arena.

There may be a certain cost associated to supporting this JR in terms of legal fees, but presumably this is a matter for discussion between the DAG with Kaupthing and our lawyers. I for one am happy to contribute further funds to the legal "fighting fund" if they are intended for this purpose.

Can I ask one of the Informal Committee to please give us an update on the outcome of Edwin Coe's consideration, which has now been going on for two weeks?

Thanks to the Informal Committee and other pro-active depositors for all your work so far.


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