NU Bonds with KSFIOM

  • grapow
  • 20/10/08 31/05/09
  • unspecified
  • Offline
Posted: Mon, 17/11/2008 - 11:26

My wife and I are only involved in this fracas through Norwich Union International's inclusion of KSFIOM on their 'menu' of apparently approved funds'. In the seemingly likely event that we are eventual losers in this matter I certainly wish to pursue them at law and anyone else involved in the process. Does anyone else feel similarly? If so some contact would be appreciated?

0
Your rating: None

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

NU Bonds with KSFIOM

  • grapow
  • 20/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 27/11/2008 - 10:34

In case any member has not seen the recent post on the NU International site, Ive copied it below for reference purposes:

Norwich Union International
An important news update for customers with deposits in Kaupthing Singer &
Friedlander (Isle of Man) Ltd
Wednesday 26th November
We understand this situation continues to be of great concern for customers who have
deposits in Kaupthing Singer & Friedlander (Isle of Man) Ltd. We would like to reassure
you we are doing all we can to represent our customers’ interests and will keep you
updated with any further developments with Kaupthing Singer & Friedlander (Isle of
Man) Ltd.
We’d like to take this opportunity to share with you the latest developments:
On the 20th November, Mr Peter Spratt from PricewaterhouseCoopers in London was
appointed as an additional Liquidator Provisional of Kaupthing Singer & Friedlander (Isle
of Man) Ltd. This appointment is from a purely administrative perspective so as to assist
in any necessary activities but does not mean that the liquidation is actually being
activated or progressed. This is still dependent on the next Court Hearing which is due to
be held on Thursday the 27th November.
At this Court Hearing, the outcome/progress of the discussions between the Isle of Man,
UK and Icelandic governments will be shared. Then based on this and any additional
information, a decision should be reached regarding the appropriateness of placing
Kaupthing Singer & Friedlander (Isle of Man) Ltd into official liquidation. Norwich Union
International will have legal representation at this meeting and we will share the outcome
from this as soon as we have it.
If you do have any questions, you can contact either your financial adviser or call our
client services helpline on 0845 3004423, where we will assist you in any way we can.
Or alternatively, please visit the Financial Supervision Commission’s website
www.fsc.gov.im or the Isle of Man Government website www.gov.im/allnews.gov where
more information can be found.


Thanks

  • Phil07
  • 15/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 27/11/2008 - 11:25

Thank you for that Grapow.

Please stay in touch through the NU group, should we not get a positive result.

I recieved a letter from NU stating there lack of responsilbilty, and suggesting I look to my IFA. Needless to say the IFA is in shock - stating that his information was given by the NU !!

Same old conundrum - no-one wants to take responsibility.