• The Biggest Ban...
  • 10/10/08 14/07/15
  • a depositor
  • Offline
Posted: Mon, 19/01/2009 - 15:11

Remarkable isn't it how the Irish Government, without hesitation, step up to the mark to protect depositors interests when the Anglo Irish Bank collapses ?

A very great pity however that the pathetic IOM Government didn't have the balls to do the same.

Suggest as many people as possible write to HM The Queens representative on the Island with your thoughts and stories. I have done this several times and NEVER FAIL to get a prompt and meaningful reply.

His Excellency
Vice Admiral Sir Paul Haddacks KCB
The Lieutenant Governor
Government House
Ile of Man

Your rating: None

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

Anglo Irish (IoM)

  • cypheath
  • 01/11/08 30/10/09
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 15:37

Thank god that was also taken into privatisation by the Irish Government otherwise this pathetic DCS would be stretched even further!!!


  • grapow
  • 20/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 21/01/2009 - 14:51

Does anyone have an email address for Vice Admiral Haddacks?

Email address for Vice Admiral Haddacks

  • Flower
  • 18/10/08 31/05/09
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 15:11

'government [dot] house(?)gov [dot] im'.

Hope this helps.

The Lieutenant Governor Fax No.?

  • adambw
  • 13/10/08 31/08/10
  • a depositor
  • Offline
  • Tue, 20/01/2009 - 14:18

Good point.
I will write to The Lieutenant Governor right now. Anyone know his fax number?

  • adambw
  • 13/10/08 31/08/10
  • a depositor
  • Offline
  • Tue, 20/01/2009 - 14:33

Have now found full fax,email details etc at:

Emails from 2 IOM Govt officials

  • Flower
  • 18/10/08 31/05/09
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 13:04

As suggested, I sent emails to all IOM Govrt officials. 2 replies to date:

"Many thanks for your message. I will continue to work with my colleagues to try to deliver a solution which is acceptabile to all concerned.

Phil Gawne MHK "

From John Simmin, who sent a standard email but is not a direct response to my questions:

"Below is an email sent yesterday which summarises my position. In view of the number of emails I am currently receiving this is my only way of responding to people, whilst still trying to fulfil my other responsibilities.

Regards, John Simmin

"Firstly I must express a personal interest as I have all my (meagre) savings in KSF, which are there to fund my sons through University (one commenced his course last September).

Although your anger and frustration is clear in your email I am confused by the timing. You must be aware of the attempt at the previous court hearing to find a measure which would be in the interests of the depositors and that the court is to reconvene next week. You must also be aware that the Govt had to produce their evidence to court last week, which was done on time. Although I am not privy to the substance of the file, I have seen the unprecedented levels of work and commitment which have gone on since this began. I do not believe any premature action would have been in anyone’s best interests.

You are understandably one sided in your criticism of the IOM and any attempt by me to explain the failures of other parties, the absence of any schemes of protection in some large and small jurisdictions, the misleading words of reassurance from some countries, the on-going public investment being required elsewhere(not just one-off), the serious financial status of many much larger countries despite their unlimited resources of staff and access to information not available to IOM, the continuing failure of banks and countries to admit their real liabilities and in general the real financial crisis affecting the world – these would probably be of little interest or concern to yourself and those whose families futures is currently so vulnerable.

You may receive hollow comments of support and reassurance from some of my colleagues, but I am only interested in attempting to protect the current and future interests of the island – our reputation is a critical element of that and my efforts in this regard always mirror your aspirations as we require a resolution of the KSF situation as soon as possible so we can move forward to the next stage of recovery.

Please feel free to contact me again after the next court decision.

Regards, John Shimmin"

Good old Johnny

  • user1123
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 21/01/2009 - 16:25

You must read this in context and understand that his big brother (Mark) is the CEO of Isle of Man Government Treasury, paid £105k plus plus a year to deal with these issues and we haven't heard anything from him!!

"Contact him after the next court decision", he knows the outcome, he wont be losing his meagre savings one way or another, or any sleep.

Reply from Geoff Corkish, IOM Govt

  • Flower
  • 18/10/08 31/05/09
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 15:27

Another reply to my email to Geoff Corkish in IOM Govt:

"I fully understand your anger and frustrations as given in your email of 21st January regarding the KSF issue. The Isle of Man is an innocent and aggrieved party in this matter and obviously is very damaging to our hitherto superb reputation and causes us great anxiety to us and of course investors.

I have asked our Treasury personnel to respond to you directly to update you fully on the present situation.

I very much hope that an amicable and worthwhile conclusion is reached soonest.

Best wishes to you and your husband.

Yours truly,
Geoff Corkish "

reply from geoff corkish

  • cypheath
  • 01/11/08 30/10/09
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 17:45


I fully understand your anxiety and frustration regarding this KSF issue. I do know that our government is doing all it can to bring the best outcome soonest. I note that you have written to our Chief Minister and know what efforts he is making in this direction.

I very much hope that a satisfactory outcome will ensue soonest.

Best wishes

Geoff Corkish

My correspondence with Geoff Corkish

  • dodot
  • 10/10/08 01/06/13
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 16:47

I have also posted this elsewhere, but it is relevant to this postings as well

Dear Mr Corkish

Thank you for your reply and expressed concern. Whilst I accept that the actions of the UK Government may well have precipitated the problems for KSF IOM, I do not accept that the IOM Government and regulatory authorities are innocent and/or absolved of responsibility.

The IOM chose to encourage a financial services industry. In doing so, it took on itself a responsibility to ensure that industry was sufficiently well regulated and supervised to offer the same standard of protection to depositors as exists elsewhere. I am not convinced that the IOMG has discharged that responsibility, particularly in respect of licencing KSF in the first instance, the appointment of regulators free of conflicts of interest and with the competence to undertake their role, failing to overseeing KSF asset management in a time of uncertainty and seemingly not having an appropriately defined relationship with UK regulatory autthorities. Culpability does not lie wholly with the UK Government nor, I think, does the solution.

I only ask that you consider my points. I do not trouble you to enter in to further correspondence at this stage.

Yours sincerely,

--- On Wed, 21/1/09, Corkish, Geoff wrote:

From: Corkish, Geoff
Subject: RE: KSF IOM
Date: Wednesday, 21 January, 2009, 3:46 PM

Dear Mr XXX,

I fully understand your anger and frustrations regarding this issue. The whole issue is a worry to us here on the Isle of Man and of course the depositors in KSF and we are innocent victims of action taken by the UK government.

I will pass on your email so that up to date information can be sent to you directly.

We are doping all we can to find a way out of this worrying problem for all our sakes and the damage it is causing to everyone involved.

Best wishes to you and for an early and amicable outcome.

Geoff Corkish

From: Sent: 21 January 2009 10:44
To: Treasury, Admin; Beevers, Steven; Boon, Nick; Braidwood, Phil; Chief Minister; Callister, David; Cannan, David; brenda_cannellmhk(?)manx [dot] net; Carse, Steve; Christian, Clare (MLC); Corkish, Geoff; anne [dot] crane(?)gov [dot] im; graham [dot] cregreen(?)gov [dot] im; Crookall, Tim; Davies, Ray; Donegan, Brian; Downie, Alex; Aspden, John;; Gawne, Phil; Gill, Quintin; Henderson, Bill; Spellman, John
Subject: KSF IOM
Ladies and Gentlemen

I am a KSF IOM depositor, previously a depositor with Derbyshire and Carter Allen. You can see I have trusted in the IOM financial services industry and regulatory authorities for a long time.

I will not duplicate the many points made to you by other depositors. But I would implore you to

  1. indicate some kind of real empathy with and concern for the plight of depositors and communicate meaningfully with us.

  2. seek with urgency to find a solutions consistent with the actions being implemented by other governmental authorities in other parts of the world.

  3. demonstrate that you will hold to account those, with serious conflicts of interest, who appear to have failed to carry out their responsibilities with due care and attention, particularly since August 2007.

I might add that the 1000 emergency payment scheme severely damages my perception of you. The amount itself is so small it is irrelevant to many - although I do not trivialise the hardship of those to whom this amount is significant. The length of time it is taking to distribute is a manifestation of your institutional incapacity. And both together cause me seriously to doubt that you are in touch with the realities of this issue.


Isle of Man. Giving you freedom to flourish

Reply from Geoff Corkish - John Shimmin

  • merlin
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 21/01/2009 - 17:29

I also e-mailed Geoff Corkish and got the same reply exactly word for word.

I also had a reply from John Shimmin which is very volatile. I only wish I knew how to copy it to this site ! Has anyone else had a reply from John Shimmin.

John Shimmin

  • Anonymous
  • Offline
  • Wed, 21/01/2009 - 17:42

I would be very interested in the Shimmin reply.

If you cannot post it, could you e-mail to me and I will redact personan data and post it for you, e-mail:

depdocs(?)googlemail [dot] com

A patronising letter

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
  • Offline
  • Wed, 21/01/2009 - 13:11

A patronising letter we are all too aware of the financial crisis

Hardship PAYMENT for KSF depositors??

  • user1123
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Wed, 21/01/2009 - 16:02

More patronising, they really are rubbing our noses in it.

What are DAG going about it?