Statement by Hon Tony Brown Chief Minister

  • 208
  • 10/10/08 31/05/09
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Posted: Tue, 21/10/2008 - 14:11

The following statement was made today in Tynwald today. Hope that this of interest to the forum.

Chief Minister Tony Brown says every effort is being made to persuade the United Kingdom to release funds belonging to collapsed bank Kaupthing Singer and Friedlander (Isle of Man).

The issue was hotly debated during question time in Tynwald today, with both Mr Brown and Treasury Minister Allan Bell facing queries from members.

There will be a debate later this afternoon, sparked by motions from Michael MHK David Cannan, but this morning Douglas North MHK Bill Henderson asked the Chief Minister what representations had been made to the UK.

Mr Brown told him:
"There has been constant contact at official level and at regulatory level between the Isle of Man and the United Kingdom since it became clear that Kaupthing Singer and Friedlander (Isle of Man) were in difficulty.

"There have been contacts with the Ministry of Justice, the United Kingdom Treasury, the Financial Supervision Authority and the Bank of England.

"In addition, I have personally written to Jack Straw, Lord Chancellor and Secretary of State for Justice, and I have also written to the new Minister for the Crown Dependencies. The United Kingdom, as I have previously stated, has agreed to represent the Isle of Man in this matter, as it is clearly a matter of international representation.

"I do not consider it would be appropriate, while negotiations are ongoing, to reveal details of the negotiations. I am, however, willing to say that our efforts internationally are aimed at seeking to prevent Kaupthing Singer and Friedlander (Isle of Man) from going into liquidation."

North Douglas MHK Bill Henderson then sought a further reassurance from Mr Brown that his contacts with the appropriate authorities would remain "consistent, constant and reflect the urgency" of the Island's situation in the matter.

Mr Brown replied:
"Certainly the efforts that are being put in are endeavouring to ensure the United Kingdom and others are aware of the urgency of this situation, not only to the Isle of Man but to the depositors of the bank.

CAN I SUGGEST THAT UK DEPOSITORS ( AND OTHERS ) CONTACT MR STRAW MP AND STRESS TO HIM THE IMPORTANCE OF THIS MATTER.

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Please Help Us

  • chokoro
  • 16/10/08 31/05/09
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  • Tue, 21/10/2008 - 22:40

Dear Mr Straw,

I am, like many others, devastated that in this modern age we have been robbed of our deposit in Kaupthing Singer & Friedlander (Isle of Man) Collapse.

As the founders of the global trade, banking systems, and modern economy, I plea with you to rethink the gravity of the actions of the UK government and the consequences of the actions that have led to the fiasco we now face.

If we cannot trust putting money in the bank, should we assume that we have returned to living some 100 years ago when money was placed under mattresses and robberies were the norm?

The Government, is here to protect and serve the people.

In my opinion without a guaranteed banking system, we have no economic backbone. We have free radicals with one objective, that is to make money with money without any obligation, care or concern of the existence or welfare of the people. We therefore become dispensable worthless souls. If you fail to protect us you are endorsing this reasoning.

Without this foundation there is no substance for a peaceful, social and economic present and future. We cannot claim to have democracy as the people are not being protected. Our freedoms have been taken away as we no longer trust the system.

How shall we educate our children. To be law abiding and honourable? Where is the honour in the banking system and why is it lawful to rob people of their money.

We have not asked the banks to embezzle our money. We have asked for safe keeping. This has not been the case with the Icelandic Banks, and in particular the stance of the Government to cherry pick what and whom they serve. Many of us have assets in the UK. Many of us have family and businesses in the UK. Many of us hold a British Passport. Does the government not have a duty to protect and serve us?

Many British Citizens have deposits in these locations and the government has failed to protect and serve the people. The action of freezing the assets of the Iceland Banks has created a catastrophic economic Tsunami. The source of this shock wave has been the very people who have been elected to serve the British People!

So who do I trust and what lesson have I learned from this? Simply, that if we are not protected and served in the same way, that therefore you no longer consider us British. This has many implications of my rights, which I need to investigate and consider my whole aspect of who I am!

The spirit of the people will live forever. With this last message I ask you to consider the long term impact of the actions. The voice of the people will prevail and we will persevere until we
obtain back what is rightfully ours.

Yours Sincerely

P


Letter to Jack Straw

  • Daughter
  • 17/10/08 31/05/09
  • a depositor
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  • Wed, 22/10/2008 - 05:25

I have sent off a similar letter to Mr. Straw. Who else should we be emailing letter to today ... anyone out there know?


Emailed Jack Straw

  • madmax836
  • 10/10/08 31/05/09
  • a depositor
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  • Wed, 22/10/2008 - 08:32

Also emailed the Straw Man


simply magnificent ...

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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  • Tue, 21/10/2008 - 22:53

If that doesn't move him...


LETTER TO JACK STRAW

  • everhopeful
  • 11/10/08 n/a (free)
  • a depositor
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  • Tue, 21/10/2008 - 16:28

I have just basically copied your letter and also sent it to Jack Straw-the more the merrier so please bombard him with e-mails!


I sent the following email to

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
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  • Tue, 21/10/2008 - 16:07

I sent the following email to Jack Straw:

To Jack Straw, Lord Chancellor and

Sir,

I am devastated by the action of the UK government which has seen fit to freeze depositors' accounts in KSF in the Isle of Man, without, it appears any legal, moral or ethical justification. The bank is now facing possible liquidation and I, together with thousands of other depositors, stand to lose my savings, the money set aside for my retirement.

I am a British citizen living abroad, who, due to anti-terrorist laws was not given the option of depositing my money in the UK. This Kafkaesque situation whereby the depositors in KSF IOM are deprived of what is rightfully theirs cannot be said to be just. As Secretary of State for Justice, I implore you to ensure that justice is done and the money returned to the depositors without further delay.


another email to Jack Straw

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
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  • Tue, 21/10/2008 - 20:52

I too have sent this evening a similar letter to Jack Straw asking him to restore my faith in British Justice along with our money (which, as I see it, they have effectively stolen from us).


e-mail to jack Straw

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
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  • Tue, 21/10/2008 - 21:10

I also sent an e-mail to Jack Straw earlier this evening - using your message as a model an amending only sllightly


email to Jack Straw

  • jane maloney
  • 12/10/08 31/05/09
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  • Tue, 21/10/2008 - 21:16

mine went this afternoon


Sounds almost too good to be true

  • ItsTheft
  • 10/10/08 31/05/09
  • a depositor
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  • Tue, 21/10/2008 - 14:24

Reality is the only hope we have of getting 100% of the deposits back lies with the UK Government. IOM can't afford it, we are not on Iceland's radar, and assets stuck in KSF UK probably can't be retrieved unless there is no legal way for them to retain it. Their liquidator is working for thier creditors.


Sounds almost too good to be true

  • Mrs Not Too Happy
  • 12/10/08 31/05/09
  • a depositor
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  • Tue, 21/10/2008 - 14:49

Not sure that I agree that UK receiver is working for their creditors. He is a professional and must work for the general body of the creditors as a whole - and that must include us !

A strange statement in the IOM liquidator's statement yesterday that he did not know how much was due from UK to IOM as UK accountants busy sorting out ING transfers. Strange - why not just put more bodies on the job !!!!


100% still isn't enough!

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Tue, 21/10/2008 - 14:28

Hey, I want 100% plus the interest - that's what I put the money in the bank for! Ok, so, I can dream can't I?


Jack Straw's contact details

  • expat3
  • 12/10/08 31/05/09
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  • Tue, 21/10/2008 - 14:22

Dave,

Good to hear efforts are being made to prevent the liquidation.
Do you have Jack Straw's email address?

Thanks


Jack Straw's contact details

  • Sign
  • 11/10/08 31/05/09
  • a depositor
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  • Tue, 21/10/2008 - 14:33

Are available from his website http://www.jackstrawmp.org.uk/contactus.asp


HMG's Man With Responsibility for Crown Dependencies

  • Shalva
  • 12/10/08 31/05/09
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  • Tue, 21/10/2008 - 16:40

Lord Bach is the Parliamentary Under-Secretary in the Ministry of Justice with responsibility for the Crown Dependencies. His e-mail is: 'bachw(?)parliament [dot] uk'

I sent this to him earlier today... it has some personal reference in relating to my situation, so please don't cut and paste!

Dear Lord Bach,
We write to you in your capacity as Parliamentary Under-Secretary at the Ministry of Justice with responsibility for the Crown Dependencies and draw your attention to the disastrous situation that has befallen us and thousands of other British citizens who face the very real prospect of now losing their life savings from the Isle of Man branch of Kaupthing, Singer and Friedlander. This directly results from the Government's recent decision to place Kaupthing Singer and Friedlander's UK operation into administration and freeze the “inter-bank” assets of its Isle of Man branch that were held in the UK.

Whilst it is clear that our impending financial ruin was not the intended consequence of the Prime Minister’s action to protect British savers who had their money in financial institutions connected to Icelandic banks, the Government’s promise that "no British saver would suffer” is starting to ring hollow as it does not appear to apply to accounts held offshore within the Crown Dependencies.

We and countless others like us are regular working people not tax exiles; we are just British citizens who happen to be temporarily working overseas and now stand to lose all our savings. We have not speculated with the stock markets or sought to avoid tax. We have simply made regular savings with a respected bank in order to save a deposit for a new house and support our children through university on our return to the UK. Our story is one of many that are detailed on a depositors’ action website that has recently been set up at http://www.ksfiomdepositors.netgenius.co.uk

We are UK domiciled, have our home in York, declare our earnings to the UK taxman, are subject to and have signed the EU Directive on Tax and Savings and we vote in UK elections. And ironically we are public servants currently on overseas postings for Her Majesty’s Government! Who will protect us and what responsibility does our Government have in this matter?

As the Parliamentary Under-Secretary with responsibility for the Crown Dependencies and a member of the governing Labour Party we would be most grateful if you could raise this issue with the Treasury and No. 10 and press for a political solution to be found. The unfreezing of the UK-based assets of Kaupthing, Singer and Friedlander (Isle of Man) would be a very positive step in solving this problem and would not require any UK taxpayer “bail-out”

We thank you for your attention to this matter.

Yours sincerely,