News from PWC - 24.8p

  • alec
  • 13/10/08 31/05/09
  • unspecified
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Posted: Thu, 03/09/2009 - 12:43

See http://www.kaupthingsingers.co.uk/Pages/4153

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Onshore based UK a/c for non-residents

  • nr8209
  • 12/10/08 31/05/09
  • a depositor
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  • Fri, 04/09/2009 - 10:29

After much searching and email exchanges I finally found someone who will accept funds into a UK based account that does not involve IOM or Jersey/Guernsey etc. HSBC will open an a/c for you if you either visit a UK branch in person or sign up through their US bank (but involves a 200GBP fee and opening a US checking a/c). For the former you will need passport, secondary ID and utility bill or similar for proof of address.

If anyone has found an alternative safe havens please let me (and the rest of us) know. I understand Barclays may be one (I'm already there) but Lloyds/TSB International is an IOM a/c so I politely declined.


UK Onshore Bank accts.

  • cypheath
  • 01/11/08 30/10/09
  • a depositor
  • Offline
  • Fri, 04/09/2009 - 11:08

We have jt accts at First Direct, Lloyds TSB, Yorkshire Bank & Barclays Wealth - Kensington Branch (covered by UK DCS).
First Direct & Lloyds were pre-existing which they've allowed us to keep & convert to Joint accts both current & savings. Yorkshire bank & Barclays we opened in the UK where all documentation was verified including foreign utlity bills which we receive here in English. There has been no set up charge for any of them & can all be managed online. We have Fixed deposits at Lloyds & Yorkshire Bank, statements/ cheque books/ debit cards etc are all sent out to us & interest is paid Gross on completion of "NORD - not ordinarily resident" in UK forms. Tax is paid in our country of residency, which is Cyprus.
Hope this is helpful.


Mainland Bank Accounts

  • Blades
  • 19/10/08 n/a (free)
  • a depositor
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  • Fri, 04/09/2009 - 11:05

If you are an offshore Premier customer with HSBC they will allow you to open a mainland bank account. You don't need to go to the UK and they e-mail to you all the paperwork that has to be completed.


cant get this page to download

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
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  • Thu, 03/09/2009 - 13:58

Can anyone get this to download?


@bellyup -- the URL to the bank site is LIVE!

  • Lucky Jim
  • 13/10/08 31/05/09
  • not a depositor
  • Offline
  • Thu, 03/09/2009 - 16:04

The link works!
the report is at the bottom of the page

PS: The 'blog' Notes of Guidance on this Forum have been updated today


DCS 24.8% too?

  • sambururob
  • 10/10/08 n/a (free)
  • a depositor
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  • Thu, 03/09/2009 - 14:07

Does this mean that claims made through DCS will also be 24.8%?


DCS and 24.8%

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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  • Thu, 03/09/2009 - 15:28

Sambururob,

See updated explanations and figures here:
http://chat.ksfiomdepositors.org/blog-entry/first-liquidation-distributi...

Hope it helps!


sambururob

  • alec
  • 13/10/08 31/05/09
  • unspecified
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  • Thu, 03/09/2009 - 14:17

DCS is greater of (a) 100% of deposit up to a maximum of £ 50,000 and (b) 24.8%


Thanks

  • sambururob
  • 10/10/08 n/a (free)
  • a depositor
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  • Thu, 03/09/2009 - 16:51

Thanks Anrigaut and Alec. I am sure that you have cheered up many on the site....certainly me!!


CoI minutes download - no problem

  • banna
  • 15/10/08 01/03/10
  • a depositor
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  • Thu, 03/09/2009 - 14:07

I had no problem with downloading directly
Suggest you try Public site and Facts then IOM - PWC - Statements from Bank site


Can someone reproduce it here

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
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  • Thu, 03/09/2009 - 14:42

I still cant download it can some one please reproduce it here?


bellyup

  • alec
  • 13/10/08 31/05/09
  • unspecified
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  • Thu, 03/09/2009 - 15:18

Here is the update to the previous link I posted:

First distribution

I am able to confirm that the first distribution in the liquidation has been set at 24.8 pence in the pound. The process of inputting payment details has begun and it is intended that the payments will be made on Friday 4 September 2009.

A number of payments are being held over at this stage due to queries over amounts claimed, payment details or signatures. There are also some instances where depositors originally intended to apply through the Depositors Compensation Scheme but have changed their minds and their direct claims are still in the process of being approved. We are working through these queries as quickly as possible so that, where appropriate, catch-up payments can be made to the relevant creditors. Catch-up payments will be made on a regular basis so as to minimise delays. I realise that any delay will be frustrating for creditors and would appreciate your patience while we deal with the large number of queries.

Any creditors who have not yet submitted a claim, either directly or through the Depositors Compensation Scheme, are asked to submit their claims as soon as possible to ensure that they receive the distributions to which they are entitled.

Future Distributions

The timing and value of future distributions is uncertain, as it depends upon the value and timing of future asset realistions, particularly from the loan book and KSFUK. It is anticipated that a second distribution will be made in December 2009 when further funds are expected to become available - an announcement will be made on this website in early December.

Contacts
As previously, the best way to make contact is to write to the bank or email branch(?)kaupthing [dot] com. If you need to telephone the bank, please use the main switchboard number +44 1624 699222 .

Mike Simpson
Joint Liquidator


Only one Winner

  • sleepless uk
  • 16/01/09 31/05/09
  • a depositor
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  • Thu, 03/09/2009 - 17:18

See minutes of committee meeting on KSF website. Costs to date 750k and rising,God alone can only guess at the final total.MS will be the only one on the world cruise,certainly not me.


future distributions?

  • hippychickrobbed
  • 03/11/08 31/05/09
  • a depositor
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  • Thu, 03/09/2009 - 15:38

than its that awful paragraph about future dividends, It really hits you that we are in a bank liquidation . lAll we can do is be strong to fight this, fight for a political soloution..


Cheers

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
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  • Thu, 03/09/2009 - 15:26

Thanks Alex