A plea for a gentler layour

  • Anonymous
  • unspecified
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Posted: Thu, 30/04/2009 - 10:31

There are seven paragraphs that appear at the top of each post (reproduced below). In the interests of easier navigation, could these please compressed or removed from every page.

I'm trying to read up now that the scheme documents are posted and it's getting tedious to have to scroll down so much to follow the posts!

Haven't made my mind up yet on which way to vote, what it means to me, us, etc. but also thinks it's slightly unobjective to be telling people how to vote vs. encouraging people to mind the deadlines and to vote.

Thanks in advance for any repetitive stress injury prevention help!

The seven recurring paragraphs:

You will be receiving or have received documentation relating to the proposed meeting of creditors for Kaupthing Singer & Friedlander (Isle of Man) Ltd. This notice is intended to secure a united front for depositors at the Scheme meetings which are due to take place on 19 May.

With the papers you have received is a form of proxy. This means that if you are not intending to attend the meeting in person on 19 May, you may appoint a proxy to attend on your behalf. The notice of the meeting requires that the form for voting in proxy should be returned to the Scheme Supervisor.

We have opposed the Scheme in front of the court. We have submitted to the court that there are no advantages to creditors. The Scheme has been revised but not in a way which overcomes the disadvantages of the Scheme.

We propose to seek better terms from the Isle of Man Treasury and the Company. In order to do so, we need your vote, either against the Scheme or appointing a proxy who is entitled to vote at the meeting in his discretion. The intention would be that if we can gain sufficient votes, either against or with discretion, we will be able to negotiate further with the Isle of Man Treasury. We need your vote in order to achieve that objective.

Who better than the DAG lawyers who have been involved in this since November to advise us on the right course of action? The SoA is a contract which will bind all depositors.. it is not just a case of getting the highest "threshold" or the fastest payments if the terms of the contract could result in it all being taken away again! This is the DAG legal Teamwhich won us the third voting class that gives us this opportunity. We have spent, collectively, a small fortune obtaining their advice and expertise. The Strategy Team firmly believes we should now allow them to do what they do best to get the best result.

If you haven't yet registered for the legal action, please do here
(You only need do this once!)

The latest update on the Legal Team position on the SoA is here
DAG telephone help lines are now open.

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