THERE WILL BE LEGAL REPRESENTATION

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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Posted: Thu, 13/11/2008 - 09:40

A solicitor on the IoM has now been identified and having talked this through with other active members of the Group I intend to officially appoint him in the next few days.

His website is here for anyone who’s interested:

http://www.johnwright.co.im

He comes well recommended and will be working solely on the remit I will be providing him – no other clients. He has already provided me with some very useful information and has shown an interest in our case even before he was approached.

Broadly speaking he is being appointed to be a legal face and voice in the IoM and to be a tool to get more information out of sources that have so far been less than forthcoming.
Initially I will be asking him to focus on these objectives:

• Obtain information (where possible) on PWC’s actions to date regarding the KSFIOM funds in London.
• Obtain information (where possible) on PWC’s actions to date regarding any legislation used in the UK against KSFUK.
• Obtain information (where possible) on PWC’s actions to date regarding the parental guarantee and to obtain a copy of this guarantee.
• Obtain information (where possible) on PWC’s actions to date regarding the sealed court papers in the UK.
• Obtain information (where possible) on what exactly is going on in the talks between the IoM and the UK (and possibly Iceland).
• Obtain information (where possible) on what plans the IoM government has with respect to the liquidation hearing on 27 November.
• To analyse any petition to the court with regards KSFIOM on or before the 27th of November.
• To request that the court agrees to the formation of a ‘provisional creditors committee’ should the liquidation of KSFIOM be postponed again. This is an unprecedented request so I have no idea if this is possible or how the court will react.
• To look into the possibility of a judicial review (the Isle of Man has an equivalent) of all/any actions taken so far (and possibly in the future) by the IoM government. This is just an exercise to understand the law on the IoM and the rights afforded to depositors under it – this is NOT as yet an action against the IoM government.

The phrase ‘where possible’ has been used numerous times for good reason – I do not know what we will be able to achieve so I do not want to get anyone’s hopes up.

To save everyone time it is worth me saying that the above actions will take place irrespective of any comments posted on this site. This is not a posting to canvas support it is a posting letting you know what I am about to do.

At this stage I do not believe we are in a position to petition the court one way or the other with regards potential liquidation so that is NOT a direction I will be asking the solicitor to go in (although should pertinent information become available then this could change). If that is something you feel strongly about then I suggest you consider appointing your own legal representative.

If you feel this legal route is something you wish to be involved in then you are very welcome to join in. You should be aware that legal fees are anticipated to be anywhere up to £4,000 but they will be kept as low as possible.

Should others wish to join in on this the plan is as follows:

  1. Up to 4 depositors will officially instruct the solicitor (i.e. they will be his official clients). It will only be these depositors who have any contact at all with the solicitor. I will be one of these and I am willing to listen to others who wish to join in on this but I reserve the right to pick who these depositors are.

  2. Anyone else who wishes to have their name associated with this is also very welcome to join in. Although you will not be an official client, any court hearing will be told that the above group are the clients and that they are being supported by x number of other depositors who’s names can be read out in court as well.

  3. Depositors can contribute to the legal fund if they wish but there is no prerequisite for being part of either group. Information on how to donate is posted here

http://www.ksfiomdepositors.org/forum-topic/how-donate-legal-fund

and people can donate as much or as little as they want. If you cannot afford to donate that is still fine, you can still ask for your name to be included amongst the supporting cast.

  1. At this stage, size of donation will have NO relation to involvement with the solicitor or legal policy going forward so please bear this in mind before you decide whether or not to join in.

  2. Updates as to legal progress will be made ONLY if there is news to report. There will not be a daily update. You can assume that if nothing has been posted then there is no new news to report.

  3. Should there be any surplus of funds these will be held back for any future legal battles but will not be used without further consultation. Should you not wish to participate in further legal activity or should no further activity take place then the funds will be returned to those who contributed to the surplus.

  4. Lastly, if you are not happy with a very small group of people taking decisions on your part then please do not join in. Decisions will be taken as and when considered necessary and due to the nature of the material there can be no broad forum consultation or majority decision-making. The remit to date is posted above and should give you a good idea of the direction in which this representation is heading.

Please note: You do NOT have to be an individual depositor to participate. Bond holders and corporate depositors are invited to join in as well….by whatever method we’ve all got a stake in this.

Thanks.

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please add my wife and i to

  • ajrj
  • 09/11/08 31/05/09
  • a depositor
  • Offline
  • Wed, 26/11/2008 - 19:48

please add my wife and i to the list . i can contribute 20 pounds towards proceeds presently
thanks
aj and rj


RE ADDING MY NAME

  • ripped Off
  • 20/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 25/11/2008 - 12:44

Please could you let me know how I add my name to this ? do I need to contact the solicitor direct. Please could you add me in.

Well done in all the hard work you are all doing

Many thanks


Supporting Cast

  • iak1655
  • 13/10/08 31/05/09
  • a depositor
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  • Mon, 24/11/2008 - 19:37

We donated when the legal notice was first made available, i am not sure if that gets me on the supporting list but if not please add our name.
Diver - question - could the solicitor look in to whether there may be course for legal redress against the Derbyshirs BS in terms of its sale to KSF and in particular the fact that bondholders were never given any opportunity to avoid transferring ? There have been a number of posts about this but i have not seen anything about whether there could be a case to answer, and with their impending takeover this may be something they (and Nationwide) would want to avoid. I wrote to their CEO 10 days ago but am yet to have a reply.
Fair enough if this would be outside of the remit but just thought to ask.

And thanks for all your time and efforts to date.

I.


Supporting cast

  • Dave1
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 24/11/2008 - 11:12

Diver,
Please add my name to the list of supporting cast.
Thanks for everything you have done for KSFIOMDAG
Dave


Supporting Cast

  • chipmunk
  • 13/10/08 31/05/09
  • unspecified
  • Offline
  • Sun, 23/11/2008 - 17:07

May I also include myself in the 'Supporting cast' .....I totally support this action and really cannot understand the minor oposition.

Whilst I am not in a position to contribute at this juncture I am probably one of the luckier ones and expect to be in a much better position within weeks ( House Sale) and If things go as I expect them to and Litigation is required I hereby pledge full financial support in the coming weeks.

Thank you Diver...


Legal Action

  • maxsweep
  • 15/11/08 31/05/09
  • a depositor
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  • Sat, 22/11/2008 - 17:12

Diver, have been following the chat on the forums and would like to thank you for the lead you are taking here. Unfortunately, like many others, my funds have been totally wiped out by this situation. I would be happy to be included in the supporting cast, as you put it. I think it is important to at least do that so that the Courts can see that there are many, many people affected who do want to do something, but cannot now afford to because of the circumstances of the situation.


Legal Representation

  • formymum
  • 13/10/08 31/05/09
  • a depositor
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  • Sat, 22/11/2008 - 15:01

I'm a bit confused about the legal representation - I must have mixed up information somehow. The article in The Times posted in News and dated 21/10, states that we will be represented by a lawyer called David Greene from London???

Is this another action? Could somebody enlighten me?

Thanks so much,
formymum


Clarification

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Sun, 23/11/2008 - 14:59

David Greene is a senior partner at a London Law firm that we have been talking to. He has been kindly giving us advice and guidance over the past few weeks but he doesn't have anhything to do with the legal representation being discussed on this thread.


Thanks Diver

  • formymum
  • 13/10/08 31/05/09
  • a depositor
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  • Sun, 23/11/2008 - 16:41

Dear Diver,
Thanks for clarifying that.
I was afraid I'd missed something major for a minute!

formymum


Contibution for legal case

  • fight theft
  • 10/10/08 28/05/13
  • a depositor
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  • Tue, 18/11/2008 - 17:26

Diver thanks for all your fantatic positive efforts. I have contributed towards adding myself to the class action case with John Wright yesterday via bacs ( takes 3 to five days to clear as you know).

I really cannot understand at this stage why maximum legal pressure isn't put onto the Liquidators lawyers and E&R Lawyers in London as to disclosing where the hell the 557 million of KIOM's funds are - This as we all know is the whole crux of te matter and if returned asap rather than never returned of drip fed over months or worse years is the key to our 100% salvation and bank solvency or big losses, and I really resent millions going to huge expesive liquidators like PWC ( who don't report to us anywhere near eanough) and huge legal firms rather than into returning our deposits ASAP.

I really fail to see how these high paid sharks cannot disclose the truth by now. Can John Wright put legal pressure on them to finally give answers to us sick with waiting.

I look forward to meeting you Diver when next back in London and I would have been at your October March if I was in the UK, and will offer help wherever possible, but I really hope that you and all teams and fellow depositors won't need to go on fighting in the dark for much longer. Let's all hope we can enjoy the jolly season wihout being furter drained and all enjoy a victory party early in the New Year.

Keep strong and a very thanks again for all your postivity and tenacity. Best Suzanne


Contribution to Legal Fund

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Tue, 18/11/2008 - 16:17

Dear Diver,

I support your initiative for legal representaion and your plan as described above.

I have sent my contribution to the Legal Fund by wire transfer, and have registered my details via the web site, for inclusion in your list of associated names.

With reference to your last post below, do you have any update on appointment of advocate?

"For the record, Mr Wright has been selected as the advocate but the papers instructing him have not yet been signed".

Many thanks for your continued efforts on our behalf.

Cheers


As of Today

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Tue, 18/11/2008 - 16:49

John Wright has the documents he needs to represent the 4 primary depositors. He will also be given the list of supporting depositors on 26 Novemeber - this gives everyone more than enough chance to add their name.

I have spoken to John both yesterday and today and have discussed the various avenues outligned in my original posting. Letter will be going out to various participants in this disaster in an attempt to ensure we have as much information as possible before the 27th. I can't say how sucessfull we will be in obtaining information but I will report back if and when we get any results.

John has also mentioned that a London Law firm has been in touch with him claiming to represent a 'large client' looking for representation in the IoM regarding the KSFIOM situation. John asked if I would consider allowing this person/organisation on board if the fees were split. I have asked for clarification as to who this client is and what his/her/their objectives are. If I am satisfied that there is no conflict of interests and that the involvement of another party will not limit John's ability to act in the way forseen then I will be inclined to agree to this. Any fees we can save without harming our interests are fees we can put aside for future needs (should any arise).


Legal Update

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Tue, 18/11/2008 - 17:13

Diver,

Thanks for your update... all sounds good.

Would be nice to know how many paid up "associate names"
on your list as at close of play on 26th.

Cheers


Re: Legal Update

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Tue, 18/11/2008 - 18:15

I'll be sure to post the final number of depositors that signed up once the list closes.


Legal representation

  • jmf
  • 16/10/08 31/10/09
  • a depositor
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  • Mon, 17/11/2008 - 15:21

Please include us in your list. We are extremely grateful for your efforts on our behalf. We need legal representation and information to help us proceed is absolutely necessary.


donations tax position

  • Anonymous
  • Offline
  • Mon, 17/11/2008 - 14:00

Does anyone know if funds used this way are allowable for tax deduction purposes as we are trying to recover investment monies?


Tax Relief on Donations - No Way !

  • Mrs Not Too Happy
  • 12/10/08 31/05/09
  • a depositor
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  • Mon, 17/11/2008 - 19:10

If we are talking about UK tax legislation then to claim a tax deduction we need to refer to the good old 'wholly and exclusively for the purpose of the trade rule'.

Not by a long stretch of the imagination can I see how this expenditure fits the bill. I would imagine that the reasons for each of us ending up with an IOM bank are all quite different but how many of us regard such a bank account as a business bank account. If any of us do or if any of us have invested company funds then there may be a case.

For anyone with bonds or sipps or other general investment accounts tax relief on donation to legal fund - pushing our luch I think !


Tax deductible expenditure

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Mon, 17/11/2008 - 18:55

I think they should be in principle, but it I'd suggest you talk to the IR about it. One issue might be that since funds go to the DAG they might not accept that as "valid" expenditure. However, accounting is being done, and ultimately the use of the contributions will be documented in invoices from legal and possibly other service providers. It's a little complex as the DAG itself is not a recognised legal entity - I've suggested that it might be a good idea to make it one (e.g. found a registered charity) - the basic answer is that that itself would be a lot of work and cost, would almost certainly offset any advantage in being able to claim expenditure against tax.

I'm no tax expert, but ran my own company in the UK for 10+ years so understand it from that perspective.


Legal Representation

  • Spud
  • 17/11/08 31/05/09
  • a depositor
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  • Mon, 17/11/2008 - 01:11

Hi Diver,
I have just become a member, so am not sure if I am going about this the corect way. Please could you include me on your list for any court hearings etc. If you require any details let me know. Like everyone else, I have lost everything, mine was a 6 figure sum and I am currently out of work. Consequently I am currently not in a position to donate, but if I can help, even if its only a name, I would be more than happy to. I am very grateful to all of you for your informative site, your focus and positivity.

thanks

Spud


Well Done

  • Kilo
  • 18/10/08 n/a (free)
  • a depositor
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  • Sun, 16/11/2008 - 23:20

Hi Diver - well done and thanks.

I would like to be added to your list and whilst all my monies were tied in what I understood to be a AA or even AAA rated bank by Standard & Poor up until Sept of this year !!!! I will endevour to make a plan to deposit something towards the action. I live in a banana republic where unfortauntely access to foreign currency (ie USD or GBP) is non-existant and thus my lack of funding at present and the sincere wish to get back 100% of what I had deposited with KSFIOM.

Contrary to some other negative posts, surely at the end of the day the more people, lawyers or otherwise, standing up and fighting the better??

Thanks


Representation for depositors with an insurance bond

  • digger
  • 12/10/08 31/05/09
  • a depositor
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  • Sun, 16/11/2008 - 08:09

I have been actively involved in the discussions of the Skandia group and would be happy to participate in the legal process you are engaged in if you feel it desirable to have someone to represent the interests of those depositors who hold KSF (IOM) deposits within an insurance bond.

The general questions you propose to raise with the solicitor are important and relevant for all of us. I do notice, however, that you have not listed any questions relating to KSF (IOM) deposits held in an insurance bond. These deposits raise specific issues relating to the structure of insurance bonds, legal ownership of deposits, and possible charges of misrepresentation and negligence. No doubt you would consider such questions to be premature or of secondary importance at the present time, but I would be interested to know whether you would be willing to raise them with the solicitor in due course.

It has been clear to me from the outset that KSF (IOM) depositors are a very disparate group and that it may be necessary to follow different routes in order to reach a satisfactory outcome for all concerned. Personally I have no objection to a small group of depositors representing the interests of all depositors in the initial stages since we all share many of the same concerns. That way, the process of consultation will be more efficient and more effective. If at a later stage, however, it should become necessary to make an appeal to a financial ombudsman or to take legal action against some specific individuals or institutions, certain groups would probably need separate representation and may therefore need to raise their own funds.


Representation for depositors with an insurance bond

  • Blue
  • 30/10/08 31/05/09
  • a depositor
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  • Mon, 17/11/2008 - 14:12

As joint depositors through Skandia, we have contributed to the initial Diver fund and, like everyone else, desperately hope for the right outcome on or before 27th November. If, however, there becomes a need to split into various groups at some stage, Roy Wigzell looks like a good bet to us to become our group leader.


Skandia needs

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sun, 16/11/2008 - 14:30

I see you're already a member of our Skandia group here. I too recognised a while ago that a "one size fits all" Depositors Action Group might struggle to meet the needs of all the various parties. At the beginning the DAG was one big mass of people - the group-based structure now being implemented on the web-site is intended to allow natural division into functional departments, each concerned with their own needs but also the needs of the DAG as a whole. That's the theory, I'm hoping to see it work in practice!


Legal representation

  • chb
  • 10/10/08 15/10/09
  • a depositor
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  • Sun, 16/11/2008 - 09:39

Roywigzell,

Thank you for your postings. You appear to have established a regular dialogue with Skandia and are very passionate about the particular situation faced by those of us with Insurance Bonds. I would be very happy to see you as a member of the inner circle. I have donated to the legal representation initiative and fully support Diver and the objectives he set out.

I do remember though Diver's original statement of intent including a pointy on his unilateral choice regarding working with those he felt most comfortable with. So, whether or not you join the inner circle, I really hope you will provide Diver with your questions and knowledge on the Life Insurance Companies' role in both the original problem and ultimate solution.

From my own perspective, I feel our group has yet to decide how and if we can benefit from the immense influence that these organisations will have.


reminder

  • sleeplessnight
  • 10/10/08 30/06/09
  • unspecified
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  • Sat, 15/11/2008 - 21:17

do any genuine depositors on this site believe meaningless antagonism towards one another, be it group or individual, is helpful to our plight?

Again, I would like to remind one and all that a united front is more likely to achieve success than a divided one. Before you click 'save' remember which other audiences may be viewing this and how the media, for one, could play on our internal 'squabbles'.


Reminder

  • TykeinSingapore
  • 12/10/08 22/06/09
  • unspecified
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  • Mon, 17/11/2008 - 00:19

Well said sleeplessnight, could not agree more, nobody has done anything other than to try and protect the interests of all depositors by getting some legal representation. A precautionary move but wise all the same.


Count me in!

  • Sheffield25
  • 17/10/08 31/05/09
  • a depositor
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  • Sat, 15/11/2008 - 19:48

Hi,

Good idea.

Count me in please.

Will do my best to contribute something.

Sheffield25


Legal Representation For Kaupthing Depositors

  • colinalvin63
  • 28/10/08 n/a (free)
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 18:09

I think it's a far smaller gamble to give a donation to this cause than to risk putting your life savings with an offshore bank. Darn it - if only I had that option a couple of months earlier !

I'm backing this legal representation - at least it's doing something positive rather than spreading doom and despondency amongst us, when what we really need is to be cheered up.


And the Basis is?

  • Mekong
  • 14/10/08 31/05/09
  • a depositor
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  • Sat, 15/11/2008 - 17:23

What reason do you have for employing legal representation, I see no sound basis as far as majority of depositors actualy sanctioning this approach. It is not a unilateral decision but it is a minority decision based upon your own ideas.

I will counter petition your legal representation based on the fact it represents a minority the overall number of depositors, the same as I fought against Hoopers "In Flight" Group..

You may think that you are representing :The Depositors" whereas in fact you are representing your own selfish means on the back of sympathy ... [edited] I cover my corner you cover yours but please don't claim that legal representation on this issue is what all depositors request or need!

[edited by ng where marked]


Trade Union Principles

  • gazfuk
  • 12/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 15/11/2008 - 17:53

Oh, and something I forgot to say.

I know this will not go down well among many on this site, but I come from a Trade Union background, where people understand and appreciate the importance of solidarity. If we can stick together we can achieve so much more than if we go our own ways. Please, let us all consider the effect of what happens on all of us in the group, people with lots to lose, people with less to lose, people with other funds to access, people who are now skint.

I have been so impressed with the way some real 'money people' have tried to look after each others' interests (and I have to say, surprised).

You know, there is nothing worse in this world worse than injustice, and we are all suffering from a great injustice. We will be better people if we are willing to stand as one and say 'We will settle for no less than 100% of our money back!"


Mekong

  • gazfuk
  • 12/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 15/11/2008 - 17:39

I disagree with what you say. Is this because you have less than £50k to lose (as have I) and think you will get it quicker under the IoM Depositors Protection Scheme?

My point of view is different...the stated aim of the KSFIoM Depositors Group is:

Our mission: To do everything in our power to ensure the 100% return of depositors' money.

We should all be working towards that - it cannot be achieved if the liquidation goes ahead.


Incorrect Assumption

  • Mekong
  • 14/10/08 31/05/09
  • a depositor
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  • Sun, 16/11/2008 - 09:06

I wish it was less than 50K, but it is a lot closer to 350K in 3 MMCA's (GBP, EUR USD) and a business account

Since 8th October I have had NO INCOME and even worse no financial records which is a requirement to renew my business visa and work permit in over here in Thailand which is due for renewal within the next few weeks.

If I don't get my hands on any money soon I will loose my business (order books worth USD 500,000 over the next 3 years) and my home in Bangkok (conservative estimate market value of GBP 250,000) since one of the requisites of owning property here is a valid visa.

Getting kicked in the balls by Kaipthing is bad enough but I am not prepared to sit around and wait and watch the rest of my life disappear down the drain


mekong - evidently imbibing too much of it

  • Anonymous
  • Offline
  • Sat, 15/11/2008 - 17:47

You may "counter-petition" as much as you want, whatever that means.

Those depositors who want legal representation at the hearing will be getting it through Diver and their names will be on the list of those represented (Ziggy's list). Those that do not want it will not be on the list of those being represented. It is perfectly simple. The advocate will not be claiming to represent any more persons from the DAG than those on his list.

Those who want to arrange their own representation are obviously free to do so. However, if you intend to appear in person I would strongly recommend staying off the Mekong for a few hours beforehand.


Legal Representation

  • jr
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 17:32

The poll conducted shows a clear majority of depositors wishing for legal representation at the next hearing.


Bull

  • Mekong
  • 14/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 17:46

Less than 25% of Depositors are registered on this forum

NEXT!


"Less than 25% of Depositors are registered on this forum"

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sun, 16/11/2008 - 14:42

... making it by far the most well represented and influential KSFIoMDAG in the universe. However, your mileage may vary - please do what you need to do to protect your own interests but do not waste our time with unhelpful postings.

@Mekong, I can see you're under some considerable stress, but please remember you are by no means the only one. Please stay positive and supportive if you want to continue posting here. There's a simple alternative and it takes me just two clicks.

Sincere best wishes with with your endeavors.


Quote 1 "You may think that

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Sat, 15/11/2008 - 18:21

Quote 1 "You may think that you are representing :The Depositors"

I never claimed to be representing the depositors, I merely stated that people were welcome to join something I was going to do anyway. Please show me where I have stated otherwise.

Quote 2 "please don't claim that legal representation on this issue is what all depositors request or need!"

Please point me to somewhere where I have said this?

Quote 3 "I will counter petition your legal representation based on the fact it represents a minority the overall number of depositors, the same as I fought against Hoopers "In Flight" Group.."

Good luck to you. I look forward to seeing just how you plan to 'counter petition' my legal representation. Also, for the record...it's 'Hopper's In Flight Group'....we wouldn't want anyone to think there was a splinter 'in flight group' would we?

Quote 4 "It is not a unilateral decision but it is a minority decision based upon your own ideas."

Actually I think you'll find it was a unilateral decision - I said I would do this regardless of comments or opinions...I think you'll find that's pretty much unilateral.

Quote 5 "What reason do you have for employing legal representation, I see no sound basis as far as majority of depositors actualy sanctioning this approach"

This sentence doesn't make sense...would you consider re-writing it so that I may address it properly?

Quote 6 "in fact you are representing your own selfish means on the back of sympathy ... If I puss you off tough shit I cover my corner you cover yours but please don't claim that legal representation on this issue is what all depositors request or need!"

Not sure where to start with this one..... again, please point me to anywhere I have said anything about 'all depositors'. Also, and this did amuse me, calling me 'selfish' is really quite hypocritical from someone who goes on to say "I cover my corner". Nevertheless I wish you all the best in 'covering your corner'.

Quote 7 "Less than 25% of Depositors are registered on this forum"

Based on what numbers? We don't have confirmation of depositor numbers and, in fact, there are now thoughts that previous numbers quoted as 'depositor numbers' may well be the number of accounts held instead.

Overall you come over as a very angry person. This could be explained away by our circumstances except for the fact that hundreds of other people are in the same position but they don't lash out like you seem to on a semi-regular basis. Is there something else we can help with? We are here to support each other so feel free to share.

Lastly, and I say this hoping to at least placate you with some morsel, you can at least be assured that I don't believe I'm representing you so nothing I do will be in your name.

You are most welcome to carry on posting unhelpful and remarkably incorrect statements as that is everyone's right but please, if you're going to come at me swinging, then at least have some facts to back up your rants.

Thanks.


We Have Made a Donation

  • Anonymous
  • Offline
  • Sat, 15/11/2008 - 16:28

We have just made a donation. Can we please have our names added to the "supporters" list.
We 'only' have £20K to loose - I say 'only' because although this amount represents a very large part of our savings and we can ill afford to loose it, we realise that some of you out there have many more thousands (even hundreds of thousands) to loose.
We, like many others, do NOT live in the UK (and therefore cannot open accounts in UK) and we pay tax on our savings (at source). And also like many of you out there who do not live in the UK, you're seeing the value of your GBP just slipping through our fingers like sand.
We are trying to be as frugal as we can ( as this money has dissapeared) and now the euro is the lowest it's ever been..........

Thank you Diver and everybody else who is putting so much hard work, time, effort and expertise into what you are doing.
This website really is a lifeline for us.

Thanks again!


A Request

  • Diver
  • 11/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 15:19

Some of the postings on this thread are nothing but divisive and generally pointless speculation. I'm sorry to say that they are not actually helping anybody and are in fact probably harming those whose emotions are most fragile at the moment.

This is a polite request to those involved in the bickering to please cut it out. If you don't have anything positive to say then please don't say anything. Before someone starts screaming 'censorship!' consider the impact this is having on the group. It may be an idea if these people just switch off their computers and go out and get some fresh air rather than posing like mad on here. It's the weekend - find something a bit more constructive to do...please!

If you can't bring yourselves not to comment then just email each other and beat the seven bells of *&^% out of each other that way just leave the rest of us out of this. Thank you.


The pointless posturing brigade

  • Wanda
  • 12/10/08 31/08/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 17:22

As one of the earliest recruits to this site, living in the US and in this mess for GBP350K+, I check in on a daily basis to keep abreast of the latest news (always with fingers crossed that it will be good). I rarely post as I firmly believe this site should be left clear for constructive, useful NEWS. However, I feel that I must respond to Diver's post with a hearty..."WELL SAID". IMHO this page is NOT the place for the pointless posturing of a few egomaniacs. The place for that would be your own blog, so the rest of us don't have to waste our valuable time ploughing through pages of your inane, point scoring postings....'nuff said.


a debate forum -- an idea

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 17:10

Just an idea, as wherever a group of people congregate there will always be within that group a difference of opinion, as such a tried & trusted method of these exchanges of views is by debate. Therefore perhaps we should have a forum dedicated to debates, it is then the prerogative of the individual as to either view or indeed join an on-going debate, or if they feel a comment by another user in a main forum may benefit from an exchange of views they then request the member enter that forum. Providing a reasonable degree of decorum is maintained and personal insults are barred there should be no reason for censorship.

The same could be applied for light hearted banter between members, which again in these circumstances may offend some.

Yes we are in very difficult times, people deal with these difficulties in many different ways, these are just some of the ways of expression and release, they should not discouraged carte blanch.


Gathering Information Can't Hurt

  • BustedFlat
  • 20/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 16:08

Keep going Diver. It can't hurt anyone to gather as much information as possible, which seems to be the target for the legal representative at this stage.


Sometimes the less said

  • shafted
  • 10/10/08 12/12/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 15:55

I think in the four weeks plus this site has been active people are almost having withdrawral simptoms on the week ends, stay focused, there may be indirect help if Iceland pays back contributions toHMG for icesave from IMF funding this would surely allow HMG to gain some browney points back by allowing some more assets to be returned to KSF IOM.


Donation Made

  • ferrandiere
  • 19/10/08 31/05/09
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 11:07

Have made a donation to the legal fund this morning. Its the least we can do for all your hard work on our behalf. We will also be watching the Politics Show with interest to see what Mr Darling has to say for himself this time - probably more side-stepping of the issue!

Thanks again to you and other major players for all your hard work.


LEGAL REPRESENTATION

  • ozsaver
  • 13/10/08 31/05/09
  • unspecified
  • Offline
  • Sat, 15/11/2008 - 06:55

We made our donation for legal represention yesterday, and are 100% behind this approach as all other efforts have not got us very far as to date.
We would also like our names added to the 'supporters list'

Once again, many thanks to Diver & team for adopting this legal action.


names added to the supporters list

  • markH
  • 12/10/08 n/a (free)
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 07:28

I think that when you complete the name and address page, link at top and bottom of divers message, you are added to the supporters list


Legal Representation

  • homeless
  • 18/10/08 01/01/16
  • a depositor
  • Offline
  • Sat, 15/11/2008 - 05:55

I forwarded my deposit yesterday but could I please be included on the "supporters" list.

Many thanks


Legal Representation

  • CRUISER
  • 08/11/08 31/05/09
  • a depositor
  • Offline
  • Fri, 14/11/2008 - 20:25

As I am all-at-sea both literally and figuratively, I have made a modest contribution to the legal fund - more later as needed. As one of the larger depositors who feels quite hopeless being so far away and out of contact much of the time, I am most appreciative of your initiatives and efforts on my behalf. 100% behind what you have done and are doing.
Thanks


PRESS ASSOCIATION's release on Diver's action

  • jkk
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Fri, 14/11/2008 - 20:22

Received from Google Alert:

Savers get lawyer over Iceland bank

2 hours ago

People who stand to lose millions of pounds through the collapse of the offshore arm of an Icelandic bank have appointed a lawyer to represent their interests.

An action group for savers in Kaupthing Singer & Friedlander Isle of Man (KSFIOM) said it had appointed an advocate on the island to represent them at a liquidation hearing due to be held at the end of the month.

The depositors are seeking clarification on a number of issues, including what action is being taken to recover £550 million of assets which were being held by a UK arm of the bank and have been frozen by the UK Government alongside other assets belonging to Icelandic banks.

Around 10,000 savers, many of them British, collectively have £840 million deposited with KSFIOM.

A KSFIOM Action Group spokesman said savers patience was wearing thin due to the lack of progress that had been seen to date.

He said: "Communications from the provisional liquidator, Mike Simpson of PricewaterhouseCoopers, have been, at best, sporadic and numerous questions surrounding the future of the deposits remain ignored.

"The depositors are frustrated by the lack of communication from Mr Simpson and now plan to explore various legal routes to ensure that their interests are being upheld."

The group is also looking into the possibility of appointing a legal representative in the UK.

The group received a boost last month when a liquidation hearing for KSFIOM was postponed until until November 27 to enable high-level negotiations to recover the bank's assets to continue.

If KSFIOM had gone into liquidation, the Isle of Man depositor protection scheme would have kicked in, guaranteeing people payments of only the first £50,000 they had lost, plus anything else the liquidator was able to recover in due course.

Copyright © 2008 The Press Association. All rights reserved.


Legal Representation

  • formymum
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Fri, 14/11/2008 - 17:37

Dear Diver,

My mother has contributed to the legal fund now via paypal (finally!), and I'd like to ensure with this note that her name is added to the 'supporting cast' list (I'm not sure if that happens automatically) - i've filled in the relevant details online, so all info should be available to do so.

Thanks again for the wonderful job you are doing.
formymum