Letter to Tynwald SC 27 June 2011

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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Posted: Tue, 28/06/2011 - 21:43

The attached letter has been sent on behalf of DAG to the Tynwald Select Committee.

In his reply received today, Roger Phillips (clerk to the Committee) informs us that the Committee's final Report has been agreed and circulated to members of Tynwald in advance of the July sitting, but that our letter will be uploaded on the Committee's website "so that its contents can be commented on during the debate".

Indeed, the letter has already been uploaded on the website with the other evidence for part 2 of the enquiry : http://extranet.tynwald.org.im/COMMITTEES/KSF/Evidence/Forms/Sorted%20Vi...

We expect to receive copy of the Report shortly.

I have few, if any, illusions left and am not holding my breath, but at least it sounds as if we just might get our voice 'heard' in Tynwald.

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DAG's letter to the Select

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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  • Tue, 12/07/2011 - 06:07

DAG's letter to the Select Committee is now posted on the Manx Herald website :

http://www.manxherald.com/index.php/business/660.html


Tony Cavanna's comment in the ManxHerald..

  • follow_the_tao
  • 11/10/08 31/05/09
  • a depositor
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  • Wed, 13/07/2011 - 06:07

With your permission Señor Cavanna:

Whitewash expected and duly delivered.

This paragraph in the conclusions of the enquiry caught my attention.

“Given the speed of return, the expectation of about 97% rate of recovery and the comparatively low number of people who remain to be paid out in full, we have come to the conclusion that paying out a portion of the remaining amount outstanding would now achieve little.” [Point 11 page 60]

I am one of the comparatively low number of people who remain to be fully paid. The quoted eventual payout of 97% return is still years away. The little that a delayed payout will likely achieve is be the continued loss of interest plus and the likely continuing decline of Sterling against most other currencies will further diminish the remaining 25% due to be returned to me.


Surprise again!

  • conned
  • 13/10/08 n/a (free)
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  • Wed, 13/07/2011 - 08:22

Who is going to achieve little? Them I suppose. Surprised every time we get stuffed?


Arrogant IOMG

  • follow_the_tao
  • 11/10/08 31/05/09
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  • Thu, 14/07/2011 - 07:36

The paraphrase of that paragraph is basically "We can't be bothered. And neither do we care."

Never did.


Who's surprised?

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
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  • Wed, 13/07/2011 - 17:32

Who is expecting 97% recovery? The IoM propaganda machine? Did they go round to each mortgagor contributing to the £155m debt still to be repaid to the Loan Book and ask them if they had the means to repay their dues by March 2014? I don't think so. £58m of that rather large sum is due back by the end of this year. There is evidence to suggest that some loans are being deferred as happened with loans deferred from last year... Let's hope it's not a growing trend.