Questions and a Plan B

A summary of my understanding of where we are and how it was derived based on the info I have seen...

1. Estimated no. of depositors = 9,000 with around £840m of deposits of which at least £103m ringfenced on IoM.
2. Some type of intercompany transfer between KSF IoM to KSF UK amounting to £550-600m has been confirmed, approved by the IoM FSC supposdely on behest of UK govt.

3. This transaction could only result in the suspension of the KSF IoM licence due to liquidity issues. Why, therefore, was it approved by the FSC? Is there a duty of care owed by them to us depositors?

4. If the i/co transfer is returned to KSF IoM are we in the clear? But under what circumstances is that likely to happen?

5. Is perhaps the only way out if ING acquire KSF IoM since they have our money and the UK govt does not want Iceland anywhere near the funds?

Finally, this is obviously a key week and whilst we continue with petitions to MPs and the govt etc, much is out of our hands. What happens if by next week Mike has called for a winding up? What is the plan B? Do we need to prepare for legal action against, for example, the FSC IoM if we feel there is neglect of duties? Perhaps that's for reflection in a week's time but I put it out there. For now, let's remain positive that this insane situation more akin to a banana republic (apologies to all bananas out there) will be resolved diplomatically or logically as perhaps suggested above.