STRATEGY TO PRESERVE OUR SAVINGS

If the Bank is ruled "Insolvent" by IOM High Court at the end of November, Pricewaterhouse Cooper will control all its assets and sell off the profitable bits (eg. good collateral mortgages). They have taken 15 years to pay out a first dividend to the Creditors of our ex-customer - Leyland Daf Ltd - which went bust in 1993.

The Bank's only shareholder is its parent - Kaupthing International - who called in PWC. The bank's shares are therefore valueless.
If the IOM government (Tynwald) nationalises the Bank, it will be able to carry on running.
Tynwald's High Court can grant protection to the Bank against a further run on its cash assets.
Tynwald can then negotiate return of the frozen assets in UK and payment of the Icelandic Parental Guarantee better than we can.
Immediate part payment of deposits by desperate lenders can be arranged. We can all have a surer degree of confidence that we will all get 100% of our dues before we become too old to spend it.
I have put this proposal to a member of Tynwald, with proof of PWC's expensive and slow work in the Leyland Daf case.
Family of Depositors.