WE NEED TO BE SO VERY CAREFUL NOW

  • Diver
  • 11/10/08 31/05/09
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Posted: Sat, 08/11/2008 - 06:19

We are entering a crucial phase in our existence as a group and we all need to be very aware of the situations facing us. There is a lot of talk emanating from the IoM regarding a possible solution to our current situation and, whilst we need to be sympathetic to their efforts, we also need to be aware of the consequences.

We are a very diverse group and as a result we have a lot of depositors in very varying situations. What’s best for one depositor may not necessarily be the best for another. I confess to having described attempts at keeping this group together to being akin to herding cats and I make no apologies for this because it’s true. This is not a criticism of anyone, just a fact.

The idea of restructuring the bank or ‘running it down’ may have some merit and it is worth looking closely at this situation. I for one would probably benefit from this as I have a substantial sum ‘at risk’ but this is certainly not true in a lot of cases. We know from our own poll that nearly half of us have less than £50k in KSFIOM and all of these depositors would see their funds returned under the DCS (how long that would take is another matter). The implementation of the IoM’s plan would delay liquidation and therefore prevent the DCS from ‘kicking in’ and this will be an issue.

I am on record as having said that £50k compensation would make little difference to me in light of my potential losses but I’m also painfully aware that this is not the case for a very large number of us. It is these people that we need to protect in the short term and we need to find a way to make this work for ALL of us.

I don’t profess to have a solution yet but we still need to face up to the fact that this could be an issue that rips this group apart. We will need understanding from both sets of depositors (those with less than £50k and those with a lot more) if we are to keep the strength we have as a group. Some authorities out there would like nothing more than for us to fracture and then split completely before disappearing out of existence. That would take a lot of heat off them. We need to stick together now more than ever and we need to show that we understand each other’s situations and that we are prepared to support each other.

I promise that the guys working on your behalf will do everything possible to find a solution that works for everyone but this will take your patience and understanding as well. For what it’s worth, I still firmly believe that there is a solution out there that will get us all what is rightfully ours, a 100% return of our deposits but we will need unity to achieve that solution.

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Ok,will try do do this.Please

  • cottesmore
  • 21/10/08 16/07/12
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  • Sat, 08/11/2008 - 21:41

Ok,will try do do this.Please be advised,i am a complete novice with PC


re - Why do I find your posts (go man)

  • skintagainnow
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 20:30

go man, one possibility is, he like me is a not so good on the old spelling or typing and uses an email editor with cut & paste - some editors I have noticed, take out punctuation after a cut & paste you then have to re-format, takes a bit longer to post - but worth it .... certainly for me - I hate bad spelling


You are totally wrong.Sorry

  • cottesmore
  • 21/10/08 16/07/12
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  • Sat, 08/11/2008 - 20:11

You are totally wrong.Sorry about punctuation! I have no idea who is leading what. I joined later in the process so am not " up to speed " on who is who! and who is doing what! I, like others, have an opinion.I apologies if it confuses members.It was not my intention.You can " verify " me by email or by phone.Your call, i am not going away!


Sorry again if I have

  • go mann
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 20:47

Sorry again if I have offended, I just found your posts a bit "unusual".
i withdraw my comment, unreservedly.

Who is Who = Diver and Expat, IMO, supported by other 'central colleagues'.
It is perhaps easier to simply refer, as so many have done, to the IOM Team and London team.
Hope that helps.


Apology accepted. We are on

  • cottesmore
  • 21/10/08 16/07/12
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  • Sat, 08/11/2008 - 20:52

Apology accepted. We are on the same side!
Regards,
Mark


Thanks to Diver and London Team

  • mikepapa
  • 10/10/08 n/a (free)
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  • Sat, 08/11/2008 - 18:27

Dear Diver,

My thanks to you and your Team for your continued effort and hard work, on our behalf.

Count me in for the long haul - 100% for all.

Cheers


Standing together for 100%

  • romasanta
  • 16/10/08 02/10/10
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  • Sat, 08/11/2008 - 18:16

Count me in Diver.
Thanks - I hope I get to meet you and our other leading lights someday to thank you personally.


100%

  • Yogi
  • 18/10/08 31/05/09
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  • Sat, 08/11/2008 - 17:05

Thank you Diver,

We have less than 50K (just) but agree that we all need to remain togther 100% to have the best chance of regaining all of our monies 100%.

We have no assurances that any payout from liquidation would benefit anyone or within the next millenium. We all want our full deposits back and we too are prepared to fight on. All for one and one for all.

Many thanks again to all our chiefs, for the info, support, your time, effort and abilities. We remain indebted.


I agree with your analysis

  • rapata
  • 13/10/08 03/08/09
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  • Sat, 08/11/2008 - 16:52

We must unite as a unit this way everyone benefits, to "go it alone" will only benefit those in opposition.
I for one wholly support Diver and the others and am deeply appreciative of their time and efforts and only wish there were some way I could contribute more.
We have to give them all the help we can..
I also firmly believe that hurling "abuse" at this stage will not help our fight, there will be plenty of time for that when (not if) we get a resolution.
The purpose of this forum is to achieve the return of funds not to "vent".


SUPERGLUE

  • homeless
  • 18/10/08 01/01/16
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  • Sat, 08/11/2008 - 16:52

I have just read through everyone's comments and it appears, Diver and Expat, that you have the support of us all 100%. There are times when divide and conquer achieves its aims, but not this time, not with our spirit and determination and not with those fighting for us in the IOM and London. The bulldog spirit and the nature of the breed is tenacity, strength and the power to hang on. Looks like we are all determined to stay the course in order to achieve the best result for each and every one of us.

Thanks for the communications.


Hear Hear

  • expatps
  • 19/10/08 31/05/09
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  • Sat, 08/11/2008 - 16:46

I just want to say that I agree totally with Diver and everyone with the need to stay together. I am in for only 10,000, but it is all I have and the first time in my entire life that I have been solvent .... but to think of leaving now, or forming a splinter group would be such a betrayal. As it is I wake in the morning worrying about those depositors I have read about who have lost everything ....

We have to stick together. We need to maintain a force to be reckoned with. We need to deal with the people who have conned us out of all our money. They know who they are and they should be afraid .... very afraid!!

So let's all hang in there and be strong, and positive.


Concur - stick together

  • FalconVet
  • 11/10/08 31/05/09
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  • Sat, 08/11/2008 - 16:16

We are 2 of the depositors with just more than £50,000 each in KSF. However, we feel it is important to stick with the group and fight until all savers have been paid out 100% and try to get justice from HM govt to right this wrong. Thansk to everyone's hard work. We will carry on sending emails and letters to whoever we can in th mean time.


United we Stand

  • lorraine
  • 14/10/08 14/07/10
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  • Sat, 08/11/2008 - 15:49

I have less than 50k deposited but I am only interested in a solution that treats us all equally. We are a small enough group as it is, lets not split.

Everyone of us have been shafted and our best chance of a happy outcome for everyone is the power we have as a single unit.

Everyone is working primarily for themselves of course but we also all benefit each other. Expat, Diver and all the other movers and shakers have done an amazing job but equally they need the rest of us to make their individual voices heard.

Whatever happens in the days,weeks, months (but hopefully not years) ahead we need to work as one. Individually we are irrelevant, together we are force to be reckoned with.


Great leadership

  • David9J
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 15:36

Diver and expat, this post is especially directed at you. I know how to recognise good leadership. Taking the initiative, filling a vacuum, strong and clear communication, sane and level-headed thinking (when all about you are losing their marbles as Kipling obviously meant to say), setting objectives and prioritising actions. You have done all of these and we are thankful for the results and nearer our objective too.

Our community is quite large now, and as with any large group of people some will be pessimistic and say so, some will be irrational and behave so, some will be just plain scared and show it. I detect that there are also plenty who really understand the game plan and who are as determined as you are to see everyone get all their money back. I count myself as one of those and I will also be in this until that objective is realised.

Look at what we have already achieved: petitions signed and delivered, countless meetings with high level officials, press relations managed, media coverage and TV interviews getting our message out, legal proceedings begun, Darling and Turner forced to address our questions in parliamentary committee, a debate in the mother of parliaments. All this in just one month, even if it might seem like a lot longer.

This is not over yet and you have our support and our confidence. If you need us to do more you only have to ask.


Very well said David9J

  • SusanfromBC
  • 10/10/08 31/05/09
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  • Mon, 10/11/2008 - 03:26

I will continue to support Diver, Expat and all who are working towards recovering our funds. We must stick together and see this through. I know we will get our money back.

BTW, I am Canadian, but my parents were British. I have less than 50,000 GBP on deposit, which I inherited from my father, who paid taxes on it. Both of my parents fought against Hitler in the BAF and would be thoroughly outraged by Darling's words and actions.


David9J on 'Great Leadership'

  • manxdove
  • 12/10/08 30/11/09
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  • Mon, 10/11/2008 - 01:04

David9J has expressed very eloquently my own feelings. I have lost more than £50k and know from my own management and Trade Union experience that sticking together is essential. My continued gratitude to all those of you working on our behalf.


WE NEED TO BE SO VERY CAREFUL

  • joyce p
  • 15/10/08 n/a (free)
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  • Sat, 08/11/2008 - 14:40

MY THANKS FOR ALL THE HARD WORK THAT IS GOING ON IN FINDING A SOLUTION.
I MYSELF HAVE OVER 50K AND AT 74 ARE NOT LIKELY TO EARN ANYMORE TO REPLACE IT.
READING THE DCS REGULATIONS MY WORST NIGHTMARE IS IF KSF WERE WOUND UP THE COURT COULD SAY KSF WERE IN DEFAULT ON THE 8TH OCT WHICH WAS THE OLD SCHEME.THE NEW ONE CAME IN FORCE 9TH OCT.CAN ANYBODY TELL ME IF THIS IS POSSIBLE?
ANOTHER SOLUTION MUST BE FOUND.
WE MUST ALL STICK TOGETHER HOWEVER MUCH IS AT STAKE


joyce P

  • Anonymous
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  • Sat, 08/11/2008 - 15:16

The DCS has not been "triggered" yet and if it is it will be the under the compensation rules that curently exist. ie. Compensation of up to £50,000 for individual depositors. Hope that helps.


Thank-you Diver & Expat

  • worriedsaver
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 14:32

Thank-you Diver and Expat for your comments in this post . I have been watching everything you and all others having been doing for hours everyday from the USA and I and my family are so very grateful to you . I too have a substantial amount at stake in KSF (IOM) and I agree with everything that you both say . It is extremely frustrating how long this is all taking to resolve but I would prefer to be patient to improve my chances of a full 100% return for ALL . I agree that there is clearly much going on behind the scenes and we must allow this to continue while remaining a unified force as a group . We must stay firmly together as an action group , this is our strength and why we have been so successful in generating so much publicity to our plight so far . There is clearly strength in numbers and it is obviously in some parties interests to attempt to "divide and conquer " us until there is only a small group of poor souls remaining . I have noticed that both the administrator and Mr Darling at the TSC meeting are trying to split us into separate groups . As I recall Mr Darling suggested that the original Derbyshire investors should be looked at separately from those of us who had " chosen" to invest in a "foreign owned offshore bank" . These comments concerned me greatly and I believe that we should hold out for !00% return of our savings and interest for all . That said I am also aware that some people are already suffering financial distress as a result of this and probably need some funds fairly urgently , we need to address this if possible in any solution . Many others , me included, have suffered large consequential losses which will never be recovered . I was in the process of buying a house in the USA when the bank collapsed . As a result I traded my US$ into Sterling to get it out of the bank quickly to a Sterling designated account . Now even if I get my money returned in full I will have to pay several hundred thousand dollars more for the house ( assuming it does not sell in the meantime) as a result of Sterling haven weakened since 9th October . My point is that we have all suffered greatly due to no fault of our own and morally this is not a problem of our making . We all should remain strong and hold out for 100% return for ALL of what is rightfully ours . Thank-you again for all everyone is doing .


100 % behind you

  • conned
  • 13/10/08 n/a (free)
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  • Sat, 08/11/2008 - 13:55

Many thanks to the hard workers behind the scenes. We appreciate all you do.
As has become obvious in these times of crisis, we need a new world order. Let's start here, 'one for all and all for one.' Let's stick together and see this through to the end. Like so many of you, my lost life savings was earned through self discipline, hard work and plenty of backbone. It is time to show all these qualities again.
'One for all and all for one.'


Sticking together

  • sunny1
  • 16/10/08 30/05/14
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  • Sat, 08/11/2008 - 13:24

I'm in for a lot more than 50 grand, but I take the points made earlier today that even £50,000 may be a long time coming and/or may turn out to be less. We stick together Diver and all friends out there.

Thank you again, this website is incredible.


be careful but keep going

  • banna
  • 15/10/08 01/03/10
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  • Sat, 08/11/2008 - 13:10

Diver you must have been up all night to post that by 6.19. Thanks for it. We do need to stick together. As a family of three we have much more than 50k at stake and if we are going to see our money back we need everybody to stay the course.But I think it is an illusion that going for the DCS scheme will bring much cash to any depositor's coffers very quickly. However if any solution we find paid something out to every body quickly we could ease the pain of those in desperate straits and encourage everybody to believe that we could recover everything eventually, so we could all be motivated to stick together. Personally we are in for the long term and shall not leave until we all have our money back and meet somewhere for a great party. I've met only a few of us in London and I reckon it would be a privilege to meet every body else who's been a fellow traveller on this journey.
Expat I am greatly encouraged by what you have said about the big battalions taking some real interest. I had no idea that there were 2 big boys in there with as much as £200+m. It changes my view radically of what might be possible. You say all that info is available in the public domain.Where? - I obviously missed it. It seems to me that getting some or all of the £500+m back from London both makes keeping the bank alive more feasible and makes it more likely that we could get some cash out to everybody more quickly. Do you know if the big boys are working to get it back? Is there any possibility that we as a group could ally ourselves with them or do they insist on ploughing a furrow alone? It would be a pity if what we do diminishes their work - unless we think our interests are different from their's, which seems unlikely. It looks to me as though IOM is becoming the center of our hopes?


Numbers

  • Ally
  • 13/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 13:22

Banna

Expat may have more information than me but for sure some of the big players are the Insurance companies

Skandia declared £63 million
Scottish Equitable declared £56 million
Axa declared approx £50 million
Clerical Medical - Declared "slightly less than Scottish Equitable"

I sure there are other institutions that haven't owed up too. Some of them not Insurance companies.

The IoM have said they'll put £150 million in for the DCS, so maybe this could be available for other uses? Surely it is better for them to try and restructure than have a liquidation and all the damage to reputation that does.

Take a look at the statement of affairs on the FSC website from court hearing on 24th October. Look at the balance sheet of KSF IoM at 30 Sept and start canceling out the figures and you can see that brdiging the gap is not impossible.

That doesn't mean it will happen but in my opinion it means if there is the will a way can found.


Knowledge is power

  • peterthailandudon
  • 18/10/08 n/a (free)
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  • Sat, 08/11/2008 - 12:40

Almost a month ago the LP said KSFIoM had deposits of 840 million and he had monies under his control of 100+ million. Surely since then, he and the IoM govmt. have ben able to glean more information, For example, an up to date valuation of the loan book, plus some information from Ernst and Young re. what we might get back, even in ball park terms. Both the LP and the IoM govmt have been hiding behind a mantra of " we can't give information because it's potentially commercially sensitive, or negotiations are best carried out behind closed doors. But, we are the major creditors of the bank, we neeed access to the type of information which I assume will be given to the High Court to enable the Court to make an informed decision re. winding up the bank. Yet we are trying to make decisions whilst batting blind.
Is there nothing that can be done to prise information from these people.
Finally I'd like to thank you so much for all the terrific work you are doing, from thousands of miles away it's re-assuring to know that such top flight people are battling away for justice against the arbitrary and incompetent behaviour of HMG


re WE NEED TO BE SO VERY CAREFUL NOW

  • skintagainnow
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 12:41

I agree Diver, I'm with you DCS wouldn't do me any good £50K simply isn't good enough long or short term, however I'm down to my last few hundred and once that's gone that's it, I do have a very high OD facility but to use that I do need to know more, much more than 50K will come back even over a long period.

I make no bones the restructure or controlled run off would suit me and I'm happy to go down that route, I have done a little script on it, the script is around the way I think things would operate. I could be way of the mark with this however everyone must draw their conclusions and we do need a hell of lot more info' before any route could be advised.

The script is on this thread,

http://www.ksfiomdepositors.org/node/1237#comment-15098


United We Stand ...

  • go mann
  • 10/10/08 31/05/09
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  • Sat, 08/11/2008 - 12:25

I'm only in for £11k, but I'm fully in support of everyone involved. I have every reason to just walk away, and wait for my money, but I'm here for everyone else. I'm especially here for those who have lost sums that substantially exceed the £50k limit.

I may not have much leverage with the UK or IOM Govts, but I do have an MP in UK and the Chief Minister of JSY who both talk to me. And everyone here can keep chipping away gently until, like the Berlin Wall, we break through.

Diver and Expat, and all the others at the heart of the battle, are doing a fantastic job. This is a battle for a moral solution, not a time for selfish considerations. The Teams need, and deserve, 100% support from every depositor here.


Here Here diver.

  • carlosherbane
  • 11/10/08 31/05/09
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  • Sat, 08/11/2008 - 12:18

Here here Diver.

Also, many thanks to all the people in the background doing all the work they are doing which God willing, will benefit us all.

God bless u all.

Carlos


We need to be careful now

  • grobbers
  • 11/10/08 31/05/09
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  • Sat, 08/11/2008 - 12:05

Diver,

I am one of those with exactly 50K pounds on deposit.

I agree with all you have written. I know there must be many desparate people in urgent need of their money and do sympathise. However, I also agree strongly with the sentiment " divided we fall "" Perfidious Albion" should not be allowed to get away with this daylight robbery. ( Said as an ex regular soldier with all the contempt of Government).

Brown now sees fit to bask in the reflected glory as " Saviour of the World" when a great deal of the problem was caused by him and those of similar ilk. Ruining a perfectly good pension scheme is another case in point.

I am willing to fight to the end on this matter. It is our money and we want it back.

Interestingly. Germans have now been advised to file claims to the Icelandic Depositors Compensation Scheme. The amount Iceland have supposedly agreed to cover in such cases may also turn out to be a pig in the poke. The amount is based on Icelandic currency and that is in freefall !!

Keep up all your excellent work - I for one am right behind you - and unlike Government will not retire to previously prepared positions in Rio de janeiro if the going gets tough !!

Grobbers


STICK TOGETHER WE MUST

  • 1log
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 12:03

As said here by many friends, our thoughts should be to focus on the target - 100%. Every group will have differing goal posts suited to their situation - BUT the crucial aspect is this - the ONLY way to certainly get all our money back is, if in some shape or form KSF IOM stays alive as an entity. Once you lose this position, we are vulnerable to what DCS can throw at us as and when it can - judging by their financial reserves - drips as time rolls on - so clearly for anyone who wants their money back - A LIVE KSF IOM - a secure route to return of 100% deposit - keep the good work going!


Stick together

  • Julienne
  • 16/10/08 31/08/09
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  • Sat, 08/11/2008 - 11:58

Thanks Diver for a clear posting - as always.
Now, more than ever we need to remain as one cohesive group striving to prevent liquidation at all costs and continue for 100% of ALL monies to be returned to EVERYONE asap.

Before those with less than 50K on deposit at KSFIOM begin to lobby for a splinter group and early winding up of the bank everyone needs to do some simple division. Some others further down this posting have hinted at the possible pay out should the DCS kick in due to the winding up of the bank.

As I see it there seems to only be 150K in the compensation fund to be shared out, we number 8200 apx. Divide one into the other and you get an average of 18K - so it would seem to me that those with deposits of say 30 - 40K also stand to loose out (about 5% of us I think) under liquidation.

I am in for much bigger money and therefore the long haul - whatever it takes to get 100% for everyone as I am sure that if you put in 25K you want back 25K. That's what I want for those people and me and those with more than me at "risk"

So everyone, I know it's hard and at times we all wish we could turn back the clock but we have to move forward as ONE with a clear aim GIVE ME BACK MY MONEY!!!


Divers summary

  • mikeinfrance
  • 12/10/08 28/09/09
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  • Sat, 08/11/2008 - 21:35

Firstly I agree fully with Diver's summary.
Julienne I think it's true to say that firstly the DCS guarantees £50K compensation for all.The £150M you refer to is what the IOM govt. would contribute to the scheme (in additon to the contributions from the other IOM banks),meaning an earlier payout than if left to the banks contributions alone.
Don't forget however that all assets recovered by the liquidator will be distributed equally among the depositors even if the bank is liquidated.Personally I'm finding it hard to decide if there is much difference between liquidation and a further postponement of the liquidation,unless it's to ensure that the bank continues in operation ie is bought out. Otherwise,in either case, we will get however much the liquidator eventually recovers,the DCS making sure that nobody will get less than £50K or 100% for those with less than £50K.
Basically my point is than even in the event of liquidation the recovery of assets does not stop,and in fact it would then be possible to have a different liquidator appointed.


Staying with You!

  • ferrandiere
  • 19/10/08 31/05/09
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  • Sat, 08/11/2008 - 11:33

We are 2 of the depositors with less that £50,000 in KSF. However, we will stay with the group and fight until all savers have been paid out and try to right this appalling wrong that has been inflicted on us. We really do appreciate everyone's hard work and will carry on sending emails and letters to whoever we can!


OUR ASSETS ARE UNITY AND TENACITY

  • cerberus
  • 12/10/08 31/05/09
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  • Sat, 08/11/2008 - 11:29

Thank you Diver and all of you working tirelessly to keep the momentum going.

We are up against a cynical government which drafts legislation so loosely as to permit the justification of whichever interpretation suits them, and ministers who understand that if they repeat their convenient assertions enough times they become a substitute for the truth. Unfortunately for us, under such circumstances the law is tied up in knots and the application of justice seems impossible.

Our greatest assets are our unity and tenacity. Please do not let us give these up under any circumstances.

Those we face are masters of the art of grinding people down, of sowing division, frustration, and despair. Only by acting together can we continue to apply the pressure necessary to resolve this situation. No other organisation is going to do it for us. It must be made clear to all that we are not going to be ground down nor diverted. We are good and honest people, depositors who accepted the words of civilised governments and powerful regulatory and supervisory bodies that they would protect our deposits.

Whatever spin is put on it, those deposits remain ours. Despite whatever cynical twisting of legislation is sanctioned we have an unquestionable right to expect our deposits to be returned. And we must stick toghether and do whatever it takes, for as long as it takes, to ensure that justice is served.


Critical that we support one another

  • StuPot
  • 21/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 11:07

Well said Diver. Your comments are, as usual, VERY astute.

This is, indeed, the point where those of us with more than 50,000 pounds in this 'black hole' desperately need the support of those with 50,000 or under. PLEASE CONSIDER THIS.
The saying "United we stand: Divide we fall" comes to mind.

Please stay with it. What has happened to ALL OF US is not right anywhichway you look at it.

We, like all of you, are not rich, by any means. It's just that we have a larger deposit in this particular place. Please stay together and continue the fight as ONE.


It is vital that all of us

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 11:41

It is vital that all of us stick together and act toether, it is vital all avenues are explored.Obviously I am tracking the "banking solution" here with others. Obviously eveyone is entitled to their opinion, thats what feedom of speech is about. However, there are number of statements flying around suggesting they are fact when there is nothing to support those contentions.
For instance "the bank is not resucuable, we know that"! Really, sombody knows that do they, interesting that as time has gone on more and more here realise that is not the case, a number of larger stakeholders have come forward and can see that the bank is rescuable, the IoM gove know that as well. They are not a Red Herring at all, as time will show. Thoughtfull business and financial people are working together to assist a sensible and rational solution, those people have a stake in this as depositors, quite a big stake in some cases, many millions. But the solutuion would cover ALL of is, its an all or nothing scenario. Big or small we are all in this together, I by the way have $772,,000 ever increasing in value US Dollars at stake!
One of the great problems we all face is that we want this done and want it now, as the Doors once sang Well unfortunately the real world isn't like that and we are one of a number of positions in a larger geo-political game that needs to be dealt with.
Negotiiations in Iceland, well of course they are going on! How they are going I dd not know, but that they are going on is very encouraging.
Did you know that between four institutions, two who have actually stated that KSF is being "looked at for purchase", have £229m in this? Did you think they are going to walk away from that?I doubt it. Did you know that at the fiorst liquidation hearing there were ten legal teams ready to fight liquidation? They didn't need to speak because the IoM Trausury gor an adjournment.
All of those statements are in fact on this web site alone if people would care to look. They are all statements in the public domain, not supposition dreamt up to suit a cause. I am as frustraed as anyone in this, I have a family 2000 miles away who are getting pretty desperate to see me and vice versa, but i stay the course becaue I recognise that over time we can get our money, it is a rescuable cause, we get our money by the way with a controlled run off, but is not as politically expedient for the IoM, who have an entire baking system and economy at stake here

Please think carefully about al this, think about what is fact and what is noisy rhetoric designed to appeal to the worried, the frustrated, the lonely and the desperate. I am pretty despperate to go home, but we want our money first and that is what people with a big stake in this are working on, thank you for listening, but you are all free to exercise your rights as you see fit, I exercise mine by actively working with others to recover our money. Like driver I want a solution that covers all of us and I am afraid we need to be a bit patient to get it. One other little point some time a go somebody asked why IoM don't negotiate with Iceland direct, well the answer is constituionally they can't, they have to let UK do it, or get permission from Jack Straw! So keep an eye on that this week I think.


Thanks Expat and IoM Team

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Sat, 08/11/2008 - 18:22

Expat,

Many thanks to you and your team.

Encouaging news, keep up the good work.............. "illegitimi non carborundum"

Cheers


It is vital

  • columbgc
  • 11/10/08 14/07/10
  • a depositor
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  • Sat, 08/11/2008 - 12:52

Thank you Expat for refocusing our thoughts to what really matters the most: we all want all our money back.


It's Vital All of us Stick Together

  • Stunned Mullet
  • 17/10/08 n/a (free)
  • a depositor
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  • Sat, 08/11/2008 - 12:36

Expat,

That's a great posting. Thanks for taking the time to write it and for rallying people back to the common purpose. After we've achieved so much as a group, a good deal of it attributable to your team in IOM and Diver and co in the UK, it would be a plain waste to loose sight of the goal at this stage.


Bravo Expat

  • caledonia
  • 14/10/08 30/09/09
  • a depositor
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  • Sat, 08/11/2008 - 12:33

We applaud you. As time goes on many of us are getting very despondant and downhearted. A morale boost such as this does us all good and gives us the encouragement needed to fight on. A BIG BIG thank you.


It is vital that all of us stick together....

  • Ashoker
  • 12/10/08 31/05/09
  • not prepared to answer
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  • Sat, 08/11/2008 - 12:13

Many thanks for this EXPAT.I really appreciated the information you shared. In addition, I applaud your positivity and optimism. You are doing a great job!


Thanks Expat and Diver

  • shafted
  • 10/10/08 12/12/09
  • a depositor
  • Offline
  • Sat, 08/11/2008 - 12:03

Thanks for your calming comments and as always you hard work, i think it is only natural that as the days go one or two have shot their loaded guns in frustration, whilst some comments may be said to unease our situation by possably non depositors, it is most important we all stick together, i also think that legal pressure and money should be thrown at the opening of these sealed papers, as their must be something to hide in there, lets face it it the GOV started flexing its muscles when it closed N Rock and re wrote the rule book, on the latter i think it is watch this space!.


I have to say that you'd be

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 12:12

I have to say that you'd be wrong to think I haven't had my monents of frustration even this week as it happens, but yes it is very important to keep our heads here. There are despairing and frustrating times for all of us, but yes the old hang on in there speeches do apply I''m afraid. Bulldog spirit and all that. I just believe that I'll still be buying a home in UK in few months time! Well as long as Supgordo and Dwarling let me in after this of course!

On the sealed papers I have a conspiracy theory about that sadly! How about its to do with money laundering and naughty goverments? Not the UK gov or IoM gov, but another quite well known kleptocracy?? I have absolutley no facts to back that up at all, but it does allow a bit of immagination to run riot!!


Timely Compensation of 50K not assured

  • klauseriksen
  • 10/10/08 31/05/09
  • a depositor
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  • Sat, 08/11/2008 - 11:16

I guess the main argument to "hang in there" for people with less than 50K in their accounts is that a timely payout of their compensation from IOM is by no means assured if the bank goes into liquidation.


Thank you Diver

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
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  • Sat, 08/11/2008 - 10:23

Thank you Diver for all your efforts .
When all this is over I think you should run for PM


Please advise on tactics with MPs

  • ianw
  • 14/10/08 n/a (free)
  • unspecified
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  • Sat, 08/11/2008 - 10:22

Thanks Diver and fully agree with your comments.

Please could we have some advice on how to now lobby our MPs? My MP (John Butterfill) spoke at the adjournment debate and is sympathetic. I believe continual lobbying of MPs with a few key objective points could catalyse a political solution. Do you and the leaders of the London Group have any advice or a draft letter following developments this week?

Many thanks for your excellent work.


Thanks Diver

  • Podcarson
  • 25/10/08 31/05/09
  • unspecified
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  • Sat, 08/11/2008 - 10:08

Well put.

Just a small addition:

The DCS is a small, if any, comfort to all depositors, even those with less than 50K... that's because we know it has 150M GBP in it, and that's not even close to the amount needed in order to pay everyone... what this means it will take years to sort it out.

(a disclosure: my parents are to lose more than 50K if the bank winds up...)

As Diver put it - we need to look for a solution that ensures everyones' interest as close to maximum possiable.


All along, I've felt that

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
  • Offline
  • Sat, 08/11/2008 - 10:44

All along, I've felt that liquidation is something that needs to be avoided at (for want of a better expression) all costs. Once the bank is liquidated and the DCS kicks in, we'll find ourselves in a situation with no bank and no money, as my son points out.

Although I appreciate that there is a wide range of situations and needs amongst up, the need for unity is essential because it gives us a great chance of succeeding. In fact, I've been thinking of campaigning to increase the numbers subscribed to the forum so that all governments embroiled in this will realize that we're not going away.

Podcarparent


Increasing the membership of the forum

  • bellyup
  • 10/10/08 09/01/10
  • a depositor
  • Offline
  • Sat, 08/11/2008 - 11:20

How will you do this Podcar?

I often wonder where are the rest of the 8000 while some may be councils or charities etc they themselves might be worth contacting.

They must have legal representation.

I tried to spread the word by contacting ( several times) Nexus the expat magazine.

I got disappointing pap letter back written by someone who obviously got the job because their Dad works there.


Bellyup - I know at least

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
  • Offline
  • Sat, 08/11/2008 - 16:58

Bellyup - I know at least three couples who have money with KSF IOM but prefer to take refuge in a bubble and prepare for the worst. I spoke to a lawyer who told me that he has clients with deposits in KSF IOM. If I can locate the latter and galvanize the former, there might be a ripple effect whereby people they know will join in.


Absolute Support!

  • Anonymous
  • Offline
  • Sat, 08/11/2008 - 09:11

You Have It!