report on the IOM court hearing
For a full account of the 9th April 's court hearing , please go to the Manx Herald web-site and read its report . We will have an account by one of the DAG members soon, but untill then , and with appologies for DAG's lack of input for the moment, this report is very thorough.
http://www.manxherald.com/ : for the home page
http://www.manxherald.com/index.php/business/485.html : for the article
(7 votes)
SCHEME OF ARRNGEMENT
Its all very well to see well argued comments regarding whose is to blame for the situation that we are in but does it help?? We are well and truly here 6 months down the road and being pushed towards the SOA. If you have in excess of £250 K or even more that £500 K deposited is this going to be the best solution?? Where are we going to find the answers nd who can we trust to give some sound advice on possible outcomes???
We are shortly going to be asked to vote on a decision that could be life changing, surely this is what we should be concentrating on at the moment???
Jeff Wilkins
@Jeff
Yes I agree we are being pushed to this SOA.
WHY?
Because it benefits the IOMG .
The SOA puts power into the hands of the IOMG who can then move the goalposts any which way way they want to.
Re: SOA
Yes, the IOMG are steering us towards the SOA but perhaps, and I do say perhaps, it may benefit us depositors too. I don't believe anyone, IOMG or majority of the depositors, want to get into a scheme that has not been tested in its present form or will result in a lot more delays due to legal conflicts. Personally I have not seen a meaningful argument put forth to convince me that the DCS is going to yield us any better recovery than the SOA. The only thing I keep reading from various postings is that by voting down the SOA we will knock the IOMG down a peg or two. Well some may enjoy giving the government a red face but I, for one, am more interested it recovering my funds as quickly as possible. I, like many others, believe the only way to get anywhere near 100% of our money is to put pressure on the UK government and that we can continue to do under the SOA.
For the record I'm in the over £50,000 group.
undone
totally agree with you fella
As I see it
I havent seen anyone want to take the IOM down a peg or two at all.
Most people just WANT THEIR OWN MONEY BACK.
As I see it the majority couldnt care less about who gets red faces I know I dont.
I believe that under either scheme we can continue to put pressure on the UK government what is there to stop it?