UK LEGAL AND FUNDING UPDATES

  • Diver
  • 11/10/08 31/05/09
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Posted: Tue, 02/12/2008 - 19:49

All updates relating to legal issues and funding updates will now be found solely on our new site www.ksfiomdepositors.org.

There is currently an update on the appointment of Edwin Coe LLP as the UK legal advisors and the course of action we are undertaking. To access this and future updates please go to the new site, hover your mouse over 'legal' from the menu at the top of the screen and the rest is self explanatory.

There is also a funding update/request together with details of our new Lloyds DAG bank account. to access these please hover your mouse over 'funding' from the menu on the new site and again the rest should be self explanatory.

Just to reiterate - ALL LEGAL & LEGAL FUNDING UPDATES WILL BE POSTED ON THIS NEW SITE not on here.

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Additional contribution to legal fund

  • Mandy_Italy
  • 13/10/08 31/03/10
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  • Sun, 07/12/2008 - 17:39

I have already made an initial contribution. Willing to contribute further, but waiting for the new Paypal account.


UK Legal Funding

  • IceCrusher
  • 14/10/08 25/10/11
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  • Sun, 07/12/2008 - 15:38

Diver,
I have read the objectives given at the link below and understand that this is an information-seeking exercise to determine if further action can/should be pursued.
I have sent my contribution by interbank transfer.
Ice

http://www.ksfiomdepositors.org/members-page/edwin-coe-llp-appointment


Legal Fund

  • WRINKLY
  • 13/10/08 31/05/09
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  • Sun, 07/12/2008 - 09:47

Diver, I have sent a small contribution to the legal fund and would like to say a big thank you to the team, let us hope that all the efforts are not in vain.

WRINKLY


Additional Legal Funding

  • Blades
  • 19/10/08 n/a (free)
  • a depositor
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  • Sun, 07/12/2008 - 08:36

Can't seem to register the additional donation I wish to make to the legal fund. The "click here" link on the other site doesn't seem to be working. If I go ahead and donate the same amount as before will this be registered in Diver's records accordingly?

Thanks


Registration of legal fund contributions

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Sun, 07/12/2008 - 12:00

As the bank account now being used is in the name of KSFIoM DAG, the need to separately record contributions is gone. (The payment registration link can be ignored and needs to be removed.)


Registration of Legal Donations

  • Blades
  • 19/10/08 n/a (free)
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  • Sun, 07/12/2008 - 16:13

Thanks ng.


Legal fund

  • shafted
  • 10/10/08 12/12/09
  • a depositor
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  • Thu, 04/12/2008 - 20:32

I have just added 2nd donation, Thank you again for all the work.( As before)


Contribution to Legal Fund

  • grandmaparis
  • 13/10/08 30/09/09
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  • Thu, 04/12/2008 - 17:38

I am waiting for the new Paypal address to send a further donation to the Legal Fund (same amount as before).


Funding for Legal

  • dizzy
  • 21/10/08 31/05/09
  • unspecified
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  • Wed, 03/12/2008 - 22:08

Please don't take this the wrong way. I just read the update on the "other" site, and took away that most of the money raised to date has already been spent/committed to the legal process either in IOM or London. My DH and I are fortunate that we are both still working, so could afford to donate further to the legal fund, but before I do can I ask, is there anything the London Legal team can actually do to secure the return of our funds particularly as the KFS UK liquidators have said that we are an unsecured creditor (just like the rest of the creditors)?
Is that "confirmed" and if so are we wasting our money/efforts with the london legal effort if they have no chance of getting the 550million back?
Just want to know before I make any further donations?
Also we don't have any representation on the KSF UK creditors cttee (or whatever they call it), so what exactly will the London Legal team do?


dsm

  • Anonymous
  • Offline
  • Sat, 06/12/2008 - 08:36

I would also contribute to the legal fund but I would like to know 1)how I do this and 2) precisely the legal case that is being pursued. There are diverse groups affected here and the legal position is unlikely to be the same for everyone unless we are only focussing on the legality of the UK keeping the £500MM deposit. I am resident in Surrey so would fall under the "London" group.

I deposited through my SIPP which fortunately is in individual name and therefore my provider informs me that I qualify for the deposit guarantee if we are ever allowed to make a claim and I understand that the FSCS is not funded so it would take years to get our money back anyway. I think we need to put pressure on the UK authorities to fund the FSCS to ensure that amounts under £50,000 are recovered quickly pending resolution of the wider issue.

I have not seen anywhere the total of the claims does it exceed the £550MM under dispute? If not then this should strengthen the case that UK depositors are being compensated with funds belonging to those who deposited in KSFIOM.

Finally this is a confusing site because one does not know how to obtain the clarification sought in my first paragraph and I keep hitting on Forums and not getting the legal position. Could we have a clearer access to important documents such as legal opinions etc. which are exclusively reserved for those who can demonstrate that they are depositors otherwise we could run the risk of disclosing our position to third parties.


dsm

  • Anonymous
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  • Sat, 06/12/2008 - 09:33

Welcome,

Good idea to join the London (Geograhical Group), and the "Up to £50,000 Group, too.


dsm - legal

  • anrigaut
  • 19/10/08 30/10/09
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  • Sat, 06/12/2008 - 08:52

It's quite straightforward - the answers to your questions are on the public site.

Go to the Public Site (see bar at top of this page, left).
On the menu (top of page) select:
legal/UK Representation - for what the UK lawyer has been asked to do
funding/legal costs - for how to contribute.

Hope you will decide to join us.


dsm

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Sat, 06/12/2008 - 08:48

I would initially refer you to our sister site at http://www.ksfiomdepositors.org/ this is effectively the Public Site, where I think you will find answers to a number of your questions. This site is known as the Chat Site, where members debate certain topics of interest. If you check out the top bar of buttons then you will find there are for instance certain groups that you can join that 'talk' about issues that specifiaclly deal perhaps with your particular circumstances or needs. If you need more then please contact me


Funding for Legal

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Wed, 03/12/2008 - 22:18

The London Legal Teams appointment is covered in this document found on our other site under 'Legals' 'UK Representation ' 'Edwin & Co LLP Appointment' the link is http://www.ksfiomdepositors.org/members-page/edwin-coe-llp-appointment we assume that there will be an update soon, so please keep an eye on this section.


Legal information here

  • Diver
  • 11/10/08 31/05/09
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  • Tue, 02/12/2008 - 19:50

Please see the post above for information on how to access the latest legal and legal funding updates. Thanks.


Donation via Lloyds

  • sgebbett
  • 20/10/08 31/05/09
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  • Wed, 03/12/2008 - 12:56

Just to say I did mine the old fashioned way by taking 50 pounds sterling into a Lloyds branch this morning, so should be in tomorrow.

Good luck with the Edwin Coe route

sgebbett


Legal and Funding

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Tue, 02/12/2008 - 20:26

Dear Diver,

Many thanks for your updates on UK Legal and status of legal funding.

I see a heading " KSFIOM report - John Wright- hearing 27th November 2008 " on the home page legal tab,
however nothing has been posted yet.

Is his opinion of the proceedings going to be posted in due course?

Cheers


Legal

  • Diver
  • 11/10/08 31/05/09
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  • Tue, 02/12/2008 - 20:48

Yes it will be.