UK responsible for IOM trouble - Contact David Cameron

  • EIL
  • 14/10/08 31/05/09
  • unspecified
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Posted: Thu, 23/10/2008 - 03:59

UK is totally responsible for the mess that IOM bank has got into. They have frozen the KSFIOM assets and are going to use it to protect UK citizens in the UK that may have had accounts with ICESAVE - Landsbanki.
Its a criminal act to sieze assets owned by someone else as they need to be used to protect IOM bank depositors.

Maybe it will help if we contacted the opposition leader (David Cameron of the conservative party) in the UK and seek thier help, as it is they are criticising UK government policies and this subject would give them another issue to talk about. He's in the news these days for whatever reason and if he brought this up then it would be a big issue for the media to cover aswell.

http://www.davidcameronmp.com/

David is always keen to hear from his constituents and will gladly respond to any concerns that you wish to raise.

Write to:
David Cameron M.P., House of Commons, Westminster, London, SW1A 0AA

Telephone:
020 7219 3475 and 0207 219 1945

Fax:
0207 219 1506

Email:
camerond(?)parliament [dot] uk

Comments anyone ?!

EIL

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Just sent

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Sun, 26/10/2008 - 03:44

Please emails are trashed on many occasions.10 emails = one letter.
I just wrote to David Cameron


Just Emailed!

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 23/10/2008 - 12:38

Just Emailed!

Didn't get a failure return. Included our press release and article link in independant which claims that the British government siezed British Savers assets.


NO RESPONSE

  • Anonymous
  • Offline
  • Thu, 23/10/2008 - 08:39

Tried that One MONDAY!

Dawn


Cameron

  • Valentine
  • 18/10/08 31/05/14
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 07:03

I question the wisdom of giving DC a stick to beat the govt with. Do we want our plight to become a party political issue? It could backfire, and stiffen the govt's resolve to do nothing about us. I would have thought that the best way to get the govt's attention was to lobby backbenchers from ALL parties.


Emailed David Cameron

  • BustedFlat
  • 20/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 06:12

I've sent an email explaining and asking for visibility on the issue to be raised.


David Cameron

  • davemeredithlondon
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 23/10/2008 - 06:36

I have emailed David Cameron asking him to raise the issue of Landsbanki and Kaupthing at PM questions with regard to;
1.getting funds back from UK
2.getting more support fromUKwith Icelandic government and the honouring of the parent banks guarantees


David Cameron

  • Stunned Mullet
  • 17/10/08 n/a (free)
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 07:29

I've tried to email David Cameron but Postmaster(?)parliament [dot] uk returns it undelivered. Anyone know why?


Bloomberg.com Article

  • JayC
  • 14/10/08 31/05/09
  • unspecified
  • Offline
  • Thu, 23/10/2008 - 05:04

I emailed the porter of the Bloomber.com article talking about UK loaning money to Iceland using OUR deposits as the guaranteed assets. Here is what i emailed to the reporter.

Letter to Bloomberg Reporter: October 22nd 2008

Dear Mr. Vina,
I read your story on Bloomberg.com Titled:
U.K. Treasury Works on Loan to Support Iceland Banks (Update1)
I think there is more to this story that has not been reported and likely hidden by the UK Government.  One of the subsidiary banks of Kaupthinh Hf Iceland was the bank in Isle of Man (Kaupthing Singer & Friedlander (IOM) Ltd. 
This bank had a parental gaurantee from the head office Kaupthing Hf.
It also had significant assets in the UK Branch of Kaupthing Singer & Friedlander totaling nearly $1 billion.
In your article you mention that the loan from the UK to Iceland which is to give preferential treatment to UK Citizens and Authorites was secured by assets frozen in the UK of icelandic banks, these assets are largely deposits of individuals, small businesses, and charities banking with the Kaupthing Singer & Friedlander (Isle of Man) Ltd.
The depositors had their assets and transactions frozen in the UK branch without any notice and we at the KSFIOM depositors action group believe with malicious intent.  Incoming international transfers as well as outgoing payments were held up and frozen in the UK branch by the UK Treasury department. These are life savings of people with this bank.  Many are citizens of UK living and working abroad, citizens of other countries, and locals of Isle of Man.
The UK Treasury department has taken it upon themselves to confiscate these funds and pay themselves. It cause the failure of the KSF (IOM) bank and it is now in the winding-up procedure with a Liquidator Provisional appointed.
The depositors will lose their life savings. The IOM government changed their compensation scheme after all this happened and completely left charities, businesses, trusts out. The winding up was done on october 8th, the UK Treasury freezing of the London branch office assets was on October 6th. The emergency meeting of the IOM government to modify the compensation scheme leaving everyone but private individual depositors out of the scheme was on october 9th.  The prior scheme included business, trust, charity, and other such depositors.
This small island of Isle of Man has depositors from all across the world. But they are being left out and having their life savings stolen by politicians trying to protect their jobs by giving out our money to other local depositors. 
Isn't there some news story here? Should this issue be addressed? I can't see how this is possible. The actions of the UK Treasure and FSCS were done in a non public forum and decisions were sealed.
here are links to various pieces of information. Please tell our story and put media pressure on this subject.
Lives will be ruined. This can be solved if the governments work together and include everyone in their solutions. It's not right to take one person's savings and give it to another to keep a politician from getting voted out of office. It's not right.
Thank You,
Jason
CONTACT PLACES FOR INFORMATION:
Action Group Web Site:
http://www.ksfiomdepositors.netgenius.co.uk
KSF IOM Bank Web and Announcements by Liquidator:
http://www.kaupthingsingers.co.im/
http://www.kaupthingsingers.co.uk/Pages/3989
Isle of Man FSC Web Site with Postings and Updates:
http://www.gov.im/fsc/
One file should be of particular interest which is the court proceedings leading to the winding up of KSF IOM.
This give a detailed chronology of the events and the absurd actions of the UK and Icelandic governments.
I have attached this file for your reference.


Where's the file you mention a the end?

  • Sheffield25
  • 17/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 11:13

Great letter!

Just one question, where's the file you mention at the end of the letter?

Would be helpful in blasting out to other editor's and journalists.

Thanks!


Hi Fellow Depositors

  • JayC
  • 14/10/08 31/05/09
  • unspecified
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  • Fri, 24/10/2008 - 07:14

Just a quick reply on the few comments from my post.
The email to Bloomburg i sent i attached some files from the FSC web site. They have a page that has the PDF files posted. It's www.gov.im/fsc/ This you click on the various links about KSF IOM and some will have these articles. I didn't know how to attach one to this web. The one i refer to had the chronology of events as documented by the FSC ("kaupthingpetition091008"). Here's the page with these files.
http://www.gov.im/fsc/ViewNews.gov?page=lib/news/fsc/kaupthingupdate2.xml

The letter i sent bloomburg also i did put paragraphs. I just pasted it into this forum for others to read. I didn't do any formatting on this. Instead i sent the same message with little tweeks to other news agencies. As many as i could find. I know we've mostly all done this but we have to keep doing it.

I have only US$17,000 in my personal KSFIOM account. I do have about $80,000 in a corporate. Not happy about that side. I hoped Tynwald would cover everything to 50k GBP at least. Seems they are trying to stick to 20k for accounts other than individual.

My biggest hope is they don't pass the winding up on 24th. I don't know so much but i know a lot of you people will lose a lot of money if that happens. They need to do better. I will help everyone as much as i can even though my exposure is limited. We all have to work together on this (big savers and small).

Today is the winding up court hearing. Let's hope Mr. Simpson found a good buyer for the depositor liabilities. Why doesn't IOM nationalize the bank like Iceland did? I know, i'm being naieve and i probably don't understand all the internation financial issues, but shit, i understud what it means to lose savings!!!

Let's all keep working hard on this. Anyone in IOM go to the courhouse with your signs and don't let them get away with it.
Good Luck to US,
JayC


paragraphs please!

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 09:15

JC
This is very good, but you really must paragraph it, there isn't enough white space thus making it too difficult to read. Please re-edit and maybe we can use it to go to many more editors/media/MPs etc.

IceCrusher


Pressure to UK to back up KSFIOM

  • JayC
  • 14/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 04:29

I agree with this. UK froze assets in the UK Kaupthing branch and they are using that money to pay their own local depositors. I'm not a UK citizen so even if they extend that to IOM depositors they may just leave foreigners out. It's really bull.

I am sending multiple letters to the IOM and UK FSC & treasury. Earnst & Young in the UK clearly doesn't care to deal with the IOM depositors. The announcement of reinstating the compensation scheme for all depositors in IOM at 20k GBP just doesn't go far enough. They put out that new release to test the waters. If people keep up the pressure they will surely increase the amount.

Pressure needs to be kept up for full compensation of all depositors. Can't stop emailing or contacting. The IOM and UK gov need to know this will not go away.

Here are some contacts:
FSC: Financial Supervision Commission
PO Box 58
Finch Hill House
Bucks Road
Douglas, Isle of Man IM99 1DT
British Isles
Tel: 44-(0)-1624-689300
FX: 44-(0)-1624-689398
Email: fsc(?)gov [dot] im
Web: www.fsc.gov.im
Web: www.gov.im/fsc/
Other Contacts at FSC:
Mr. Andrew Kermode's office. +44-(0)-1624-689320.

IOM Treasury
PH: 44-(0)-1624-685586
Email: treasuryadmin(?)gov [dot] im
Web: http://www.gov.im/treasury/
Executive Officer: Mr. P. M. Shimmin
Other Contact: Maria Ellison (Amit spoke to her)

Kaupthing Singer & Friedlander (Isle of Man) Bank
PH: +44-(0)-1624-699222
PH: +44-(0)-1624-699334
Email: branch(?)kaupthing [dot] com

KSF Iceland: +356-444-6112

UK Treasury
Commissioner's Office:
Rt Hon Alistair Darling MP
Chancellor of the Exchequer
HM Treasury
1 Horse Guards Road
LONDON SW1A 2HQ
PH: +44-(0)-207-2704558
Email: ministers(?)hm-treasury [dot] gsi [dot] gov [dot] uk
Email: public [dot] enquiries(?)hm-treasury [dot] gsi [dot] gov [dot] uk
Web: http://www.hm-treasury.gov.uk/

+44-(0)-20 7892 7300


Can do no harm

  • TCA
  • 12/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 04:26

People have already done this with little success but it can do no harm to keep at him. Check out this thread for MP emails:

http://www.ksfiomdepositors.netgenius.co.uk/node/175


keep trying

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
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  • Sun, 26/10/2008 - 03:48

See all my posts about writing letters


Letter Emailed

  • JayC
  • 14/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 05:08

Yes, little success but at least they put out the announcement of adding back in the business, trust, and charity depositors. I think this news announcement is them testing the water. If we push more they will increase the amount. 20k GBP is hardly enough and for those of us that have no need of GBP we are getting killed day by day in the exchange rate markets. I need JPY or USD. In a week along the GBP has dropped over 20pts against the yen!!

Here is the letter i sent around to IOM and UK officials. I think media involvement is the real key. And i email all i can find. I have only $16,500 US in this bank. I have $65,000 in business but another $20,000 in transit somewhere never reached the account. So i'm not going to lose as much as most. I just want it done right and help all...

Hello,
I am writing about KSF IOM winding up and the related issues.
I have both personal and corporate deposits at this bank. I believe the corporate compensation of only GBP 20,000 is inadequate and needs to be reconsidered. I don't see the rationalization of compensating business account less than personal accounts. Business accounts still represent personal financial investments into a company through work, salary, time, etc. I understand there is to be a meeting on October 24th to decide about the winding up of KSF IOM bank.

From what i read it would seem there are a variety of legal issues which need to be considered. The actions of the UK government regarding deposits of KSF IOM with the KSF branch in UK. The actions of the icelandic government in nationalizing the parent bank and not meeting the requirements of the 2007 guarantee.  Other legal issues.

My company has a payment of 1,000,000jpy which has left our account but not arrived to the transfer destination. We also have 2,020,000jpy which was transferred by a customer and has confirmed to leave his bank, but has never arrived to our account.  From reading Mr. Simpson's most recent statement posted online it would seem there are further legal issues that need time to be explored in efforts to recover depositor funds.

I also believe the IOM Government needs to seriously consider the consequences for what is happening and such significant loss of funds which were not investments.  As a depositor both personally and with business interests i request that where time is required to further improve the potential recovery it be granted.  I am not an expert in either finance or legal matters, but i know that i, just like many other depositors, have worked very hard to save funds and if a little more time might lead to a more beneficial outcome i believe it is the responsibility of the IOM authorities involved to provide that time and whatever resources are required.
Sincerely,

Jason


Can you send a copy of what

  • EIL
  • 14/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 04:38

Can you send a copy of what you wrote to him. I am thinking that we write to them so they raise the topic on how the UK government has seized KSFIOM assets. It will surely attarct alot of attention as its a ridiculous thing to do and will be be recongnised as so by the world.


I haven't emailed him...

  • TCA
  • 12/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 04:55

...maybe those that have can copy what they sent here.

Just write to him anyway with your own approach.


UK CITIZEN LIVING IN THE UK.

  • Anonymous
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  • Thu, 23/10/2008 - 08:53

You are telling me that my money is being used to bail out other UK depositors JUST BECAUSE I CHOSE TO BANK WITH KSFIOM its Ludicrous.... and I suspect THERE is more going on than we know

IT SURMOUNTS TO THEFT!

Illegal....Illegal....Illegal....Illegal....Illegal....Ilegal....Illegal....Illegal....Illegal....Illegl.....Illegal....Illegal....

I have lost proceeds from the sale of my property and will now be on BENEFITS because of the UK Governments ACTION....

It Stinks!!!