What's been achieved....nothing

  • hendonpete
  • 12/11/08 31/05/09
  • a depositor
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Posted: Wed, 12/11/2008 - 09:19

If one takes a long hard look at what been achieved in terms of MONEY since this disaster began, I reluctantly come to the conclusion that we've got nothing, zilch,zero in addition to what we had on the first day the LP wrote to us.
I, for one, am an avid reader of this site, I'm one amongst many who both admire and feel very appreciative of fantastic the efforts of all, particularly Diver, expat,the London and the IOM teams. And to those who regularly contribute to this site and whose writings give me food for thought, comfort and companionship. But as a depositor in for 600+k, since day one all the efforts and ideas have not conjured up one extra penny. The LP had 100 million on day one, KSFUK have ouir money and the liquidator will give us what he sees fit and not a dime more; the IOM government far from coughing up, seem to be finding ways not to trigger the ( virtually non-existent) compensation scheme, the UK govmt have shown no interest in us and now seem to be threatening the IOM govt; Iceland govt....don't make me laugh..
So all these efforts and nothing to show for it.
Can we find an approach that will make a difference. i've not got one but there are better minds contributing to this site.
We need to achieve something or we'll be in danger of becoming nothing more than a web-site for sad losers.

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HMG has done ***K ALL representing the IoM

  • MichaelB
  • 16/10/08 31/05/09
  • unspecified
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  • Thu, 20/11/2008 - 00:01

I read this somewhere .... it is so true !

" Whilst the British authorities appear to have 'kissed and made up' with Iceland, having given the go-ahead to an IMF/Iceland loan, there is still no information as to how they have represented the KSFIOM depositors' interests in such talks or if they represented them at all. "


e-mail

  • Alex
  • 13/10/08 31/05/09
  • a depositor
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  • Thu, 13/11/2008 - 04:58

Guys,
I just got this e-mail in my private hotmail Inbox. Do you have any idea what does it mean?

Published: 21:51 12.11.2008 GMT+1 /HUGIN /Source: Kaupthing Bank /SSE: KAUP /ISIN: IS0000001469

Kaupthing's Resolution Committee meets with creditors

Kaupthing Bank's Resolution Committee met today for the first time with representatives of large creditors of the bank (Informal Creditors' Committee). The meeting was constructive and it is anticipated that another meeting will be held within a month. The Resolution Committee looks forward to working with the Informal Creditors' Committee towards a solution which maximizes recovery for all stakeholders.


Roundcube Webmail

  • caledonia
  • 14/10/08 30/09/09
  • a depositor
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  • Thu, 13/11/2008 - 08:09

I have also had something strange. For the past 4 weeks, to save typing the site address in each time, it has been under my 'favorites'. Since yesterday, each time I do this, instead of the forum coming up, I get a page headed "Roundcube Webmail" and asking me to log in ..... has anyone else had this or is it just me?


email

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Thu, 13/11/2008 - 05:08

Seems you have subscribed to a feed somewhere, can you drag anymore info out of the mail header?
Wonder if they mean KSF UK or IoM?

http://www.abnnewswire.net/press/en/59335/Kaupthing_Bank_(STO:KAUP)_Kaupthings_Resolution_Committee_Meets_With_Creditors.html

They don't mean either, It is kaupthing Iceland.


email

  • Alex
  • 13/10/08 31/05/09
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  • Thu, 13/11/2008 - 05:19

Captain, I didn't subscribe to any other site! This is the only site I'm following regardig KSF. More than that, the email came into Inbox, not into Junk.
Here is the header:
From: Kaupthing Bank (pressreleases(?)huginonline [dot] com)
Sent: Wed 11/12/08 12:52 PM
To: Hugin E-mail subscribers (recipients(?)huginonline [dot] com)


Now Now children

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 20:30

Come on people, we have come this far together so lets not fall out amobgst ourselves. No matter how much money we have to loose we are all in the same robbed boat, those with 50K or under will still have to wait for probably as long as the rest for a pay out. Lets remember that we are all working on a percentage here, the DCS scheme may take quite a long time to top up peoples deposits if its needed. Therefore a few weeks or months for the better outcome is worth the chance!!!


Achieved

  • JayC
  • 14/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 20:18

We got the non-individual compensation back. If nothing else that was a great achievement!! I am very happy for that!


Not Helpful

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 16:10

This post is really not helpful or even factually accruate. A great deal has been achieved.

It is simply unrealistic to somehow expect that money should have been "conjured" up at this early stage.

Blair


Welcome back bblair, Trust

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Wed, 12/11/2008 - 19:38

Welcome back bblair,

Trust you enjoyed yout trip? :-)


Thanks Mike

  • 491
  • 11/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 22:50

Yeah - good trip.


I just had no idea you were

  • manx-person
  • 17/10/08 31/05/09
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  • Wed, 12/11/2008 - 22:57

I just had no idea you were so good at Karaoke !
Glad you returned home safely


acheivers

  • uptight61
  • 14/10/08 n/a (free)
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  • Wed, 12/11/2008 - 16:06

Give everyone on this site a break, Pete. We've been trying our damndest to get our money back the last 3+ weeks and have accomplished a great deal. Please share your contribution - according to the site it appears you've only been a member for 7 hours, 3 minutes! We all just need to be patient (at least until the 26th)


be patient

  • KA
  • 14/10/08 29/06/09
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  • Wed, 12/11/2008 - 12:14

it is easy to be critical , lose patience and sight of just how complicated it is to deal with 3 governments, a building society or two, 4 banks( and more ) , a liquidator, countless newspapers , legal teams , a range of depositors from those with a few thousand £s to those with millions , individuals to businesses, cash holders to bond holders............... and keep everyone informed of every move being made, in front of and behind the scenes , on this web-site.

All of which is essential in putting together a solution to this crisis.

We are not trying to re build a garden shed : this finantial tsunami has devastated entire townships. So hold back on the sniping , take a deep breath and just know that SO MUCH is being done it is breathtaking ! All will be rebuilt, it just takes time .

I stand to lose more than you but I have absolute trust in Diver ( who took himself to the edge on our behalves ) Expat, Teapot, Sleepless , Hopper and all the others who are in the same boat but are pulling out all the stops to reunite us with our funds.


What's been achieved

  • skintagainnow
  • 10/10/08 31/05/09
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  • Wed, 12/11/2008 - 11:34

Pete, in 4 weeks in any liquidation you wouldn't have had anything achieved under any circumstances, I've been involved in 2 liquidations (as a creditor) - 1 only a few hundred quid but in the 70's - so possibly a couple of grands worth now.
The second was 30K 10 years ago - still waiting for the first payment, get a letter every year to go over the last years accounts - liquidation doesn't work - only the liquidator and the auction house (if that's the way it goes are guaranteed funds) the rest of the poor sobs sit & twiddle their thumbs.


What's been achieved?

  • timeout
  • 22/10/08 22/06/09
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  • Wed, 12/11/2008 - 09:39

A lot of people on this site have done an incredible amount by making the media, politicians, authorities aware and exposing this situation in the press etc. Hence, I think a lot has been achieved, though I fully understand, as a fellow depositor that the money needle has not moved.
When dealing with politicians, my own view is, only two things ever work. First one is diplomacy and discussion and that is fast going nowhere in this case - and history demonstrates that the British Government is usually numb to this approach.
The second approach is non-violence protest, in some cases accompanied by some degree of hunger strike. I attach a link to a Wikipedia page that reminds us of very successful attemps: http://en.wikipedia.org/wiki/Nonviolent_resistance .

If our group was prepared to go down this route I am convinced it will get media attention and more importantly the sympathy of the public. But it requires effort and a willingness to be present in person.


hunger strike

  • IsleofMuppets
  • 13/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 13:57

gosh, i would rather not do that. but if someone is up for it!


Hunger Strike

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 14:27

It does sound rather extreme, would this include currys as i dont think i could give up my weekly vindaloo!!!


vinda"LOO" protest

  • IsleofMuppets
  • 13/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 15:12

why dont we all just eat vindaloos three times a day and use exclusively the toilets at the house of commons. we will tell reporters we are determined to turn the thames into the ganges until we get our cash back. we will cease making vinadloo deposits only when we get cash deposits.


Hunger Strike not necessary

  • sami
  • 10/10/08 31/05/09
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  • Wed, 12/11/2008 - 14:50

I hope all you good people are in a better state than me, but I don't need to hunger strike - I've had no appetite since 8th October when I saw the news.

All my clothes are now too big for me, even the ones that were tight.

Speaking seriously though, the emotional strain we've been put though is simply unbearable. I hope that one day not only do we get our deposits returned, but we get some compensation on top for the mental strain of it all.


Sami

  • bellyup
  • 10/10/08 09/01/10
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  • Wed, 12/11/2008 - 15:22

I am the same
No appetite and baggy togs.
Chin up though we will get through this.


You would after a month of it

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 14:49

You would after a month of it 3 times a day.

Still my wife has at least learned a little since the last time I did 3 months straight in India - she will cook me a nice plate of chicken sate, sweet fried beef, kangkung with quails eggs and ensure that I have a bottle of Yellow Tail Shiraz to go with it.
See, first time I came back, she cooked me my "favourite" - bless her, she cooked me a curry.


That's great Pete, years ago

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 09:39

That's great Pete, years ago I used to do work in a lot of rich jewish owned houses (not that the religion matters particularly) - the standard reply when asked what the customer required was " I don't really know what I want, I just know I want it to be nice".

Your statement somewhat echoes that reply.

What have you done? have you emailed anyone? have you considered what the IoM and the FSA may be up to this week, how much do you think we will get out of E&Y and the loan book, or do you "just want it to be nice?"

With 600K in the pot mate, you need to be a bit more lively than that ! or else you won't be treating me to supper in the Jakarta Restaurant in Sheaveshill Rd Colindale, more like egg and chips in the Dugout cafe (is it still going?).

Personally I'll wear a grass skirt and whistle zippidee-do-dah out of my kazoo if it does any good.


LOL

  • bellyup
  • 10/10/08 09/01/10
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  • Wed, 12/11/2008 - 11:02

Captain you have made me laugh -

OK lets have a demonstration all wearing grass skirts and playing zippidee doo dah - Folks dust down the kazoos

its a bit nippy for grass skirts but thermal longjohns underneath are ok.- yea Gods

This would be such a threatening sight HMG would say give em their dosh back just to get rid of the mad b................s

However you have a point

Today let everyone write, email, fax, send a pigeon to Jack Straw (again in my case) in his capacity as LORD HIGH CHANCELLOR -

its already been mooted somewhere else on this site-

we must do something!


Problem with the thermals how

  • skintagainnow
  • 10/10/08 31/05/09
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  • Wed, 12/11/2008 - 11:40

Problem with the thermals how would manage the out of the kazoo, need the old style with the buttons for the back flap, now what a sight that would be 3000+ old foggies grass skirts / thermals & tin whistles the mind boggles. LOL

Hey! the video should be worth a bit - NG get a new site set up with Pay per View


Kazoo not karzy

  • bellyup
  • 10/10/08 09/01/10
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  • Wed, 12/11/2008 - 12:27

An understandable mistake under the circumstances!


re - Kazoo not karzy my mistake

  • skintagainnow
  • 10/10/08 31/05/09
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  • Wed, 12/11/2008 - 12:36

Opps yes those tin whistle things the jazz bands of the 70's had were called Kazoo's (is that right) --

my mistake would have more impact tho, you have to agree that

not sure if it would be positive impact or just plain pity


Capt Mainw - Grass skirt

  • manx-person
  • 17/10/08 31/05/09
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  • Wed, 12/11/2008 - 10:11

Captain, Good response.

On the last point, please provide a link to your video wearing a a grass skirt and whistle zippidee-do-dah out of your kazoo

I will do my best to ensure it gets circulated to the right people in the right places to see if it does any good.

;-)


Oh I really couln't handle

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 15:58

Oh I really couln't handle that! The mind boggles at the thought of the captain in a grass skirt!!


My Kazoo is possibly

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 12:28

My Kazoo is possibly something different to the small musical instrument that you had imagined......

Whilst musical, it is generally not tuneful, though with curry three times a day for the last month, what it lacks in quality, in makes up for in quantity.

Yes, hit old Jack Straw with loads of emails, keep it polite and ask him to keep the pressure on, keep telling him out the very real prospect of bankruptcy for many and anything else that may nake him think twice.

We all know how we deal with an "arsy" email - I should know, I write many of them each week in my day to day work, but truthfully it is better to just keep to the facts, with a little bit of something to mak him think again in the last few lines - It can do no harm while we wait to see what is offered by the IoM/FSC. My feeling is that we may see something proposed this week, but I am miles away and have had no contact with anyone.


re - My Kazoo is possibly ~ figured as much

  • skintagainnow
  • 10/10/08 31/05/09
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  • Wed, 12/11/2008 - 14:27

Ok - nothing what so ever to do with out current situation - probably not in the best taste for all - so if you are easily offended don't read.... and please don't bother me telling me I'm a prat - I know that - that's why I'm here.. with you - the reader :-)

Still smiling now Cpt, not just your post but memories from the 70's, steaming around the Gulf for months in seemingly ever decreasing circles, various pockets had to come up with new and inventive ways of amusement and moral.

One of the most popular of these was a combination of two other on board "boredom activities" horse racing and the ever popular mess trick of the "the dance of the flaming a***holes".

allowed attire for the horse's - head dress, mane & tail

the tail is made of toilet paper - this tail in the first heat is of say 100 sheets, as the heats progress the tails become shorter, loose a tail or flame from the clamped cheeks and your race is over.

Now you have to picture the scene - pleasant flat calm sea's, temperatures in the 90's, no wind, large empty deck, several suitable clad horses on all 4's tails at the ready, the race track set out with a varity of obstacles in place,the obliquity well lubricated skid pans, the expectant buzz of spectators in full spirits, tote in place gambling allowed....

tails are lit and the race is on,

now if you've ever seen several bollock naked hairy a***d jolly jacks looping around a deck covered in oil & grease trying to get to get to the finish point before an embarrassing minor burn - not a sight to forget easy and always guaranteed to raise a smile.


I couldn't possibly try it in

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 14:44

I couldn't possibly try it in my condition, just a few meters away is a store of Carbon Disulphide which is rather inflamable amongst it's many other nasty traits (makes birds fly backwards and turns you into a jaffa). After a month of curry, a poorly timed toot could have the whole lot ablaze. Not joking either, I'm not a million miles from the Union Carbide factory site, and this place is possibly just as volatile.

I am going from phases of melancholic seriousness to juvenile giggles, one of my mainstays, not just over the KSF IoM wreck, but also of a month in Gujurat (no alcohol except well you can guess) has been my collection of old steptoe episodes and two feature films, and also a few On The Buses episodes and a movie which was filmed close to where I grew up in the UK - both reminded me of a better and altogether more pleasant England.


Cpatain Mainwaring - All skirt and no trousers

  • manx-person
  • 17/10/08 31/05/09
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  • Wed, 12/11/2008 - 12:57

still waiting for that youtube link Captain - all are you all skirt and no trousers? ;-)


Skirt?

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 13:03

Since you mention it I was married in a skirt, and if you think I am fool enough to send you the video of that....

Actually I wear a sarung about the house, and very comfortable it is too, also nice and fresh around the old fun box.


Skirt - u sure?

  • manx-person
  • 17/10/08 31/05/09
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  • Wed, 12/11/2008 - 19:30

Captain,

Well I am not sure I will believe the skirt story till I actually see the proof.

A bit like the parental guarantee...........


A bit of skirt (not skeet which is different in the IoM)

  • manx-person
  • 17/10/08 31/05/09
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  • Wed, 12/11/2008 - 13:13

Ok - thats enough - you win - too much information LOL


A cunning plan

  • Ramsey resident
  • 22/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 10:27

My fear is that we are all waiting for a rescue 'plan' that my turn out to be one of Baldrick's 'I have a cunning plan' type that is always totally useless

Bring on the liquidation please so we can start getting our cash back NOW


I assume that you don't have

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Wed, 12/11/2008 - 12:31

I assume that you don't have the to lose what others may do? I for one can afford to wait a bit for a better result, unless of course all those with under 50K to lose care to set aside say 25% for those with a good deal more.

Don't kids yourself that in the event of liquidation tomorrow, that we will see anything next week, we haven't even got bank statements yet, so a payout may take just a little longer.


I love that one those of us

  • Thor Halland
  • 10/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 15:27

I love that one

those of us with under 50 grand should tax ourselves so that you richer people get more money.

Its that sort of attitude that is really pissing me off along with the 'stick together' and do exactly what the big money boys want


Well I am being told I should

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Thu, 13/11/2008 - 03:05

Well I am being told I should compromise my right to a payout when you are stone cold certain of getting one - with that in mind, why don't you compromise a bit too? just about 25% should do it. Don't fancy it eh? well don't ask me to do it either.

Suggest you get off your arse and got to court on the 27th and request a liquidation - otherwise mate it is down to simple maths.


I've just come across this

  • cottesmore
  • 21/10/08 16/07/12
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  • Wed, 12/11/2008 - 20:17

I've just come across this and can't ignore the item without commenting.
It's statements like this that piss me off the most.
Why is it, those of us with a few quid, always get crap like this from people who have no idea what,who,why or how we made our money in the first place? For your info,' i started life on a council estate with 'f' all.I had one desire and that was to get on and be different.I did some of the most shitty jobs you would ever know.I then started my own business with £130. (no silver spoon money!) After 15 years of total slog,i then sold out to a PLC and retired at 42 years old.Yes, i am probably richer than most,but hear this,get off your fat arse and do the same.We all have the same chances in life.It is these people (who you are slagging off) that are NOT sitting on their rich fat arses. They are doing their damndist to help all of us.So
keep your comments to yourself. It does not help those members who really rely on this forum to give them strength.
Please, feel free to enlighten us all, with your wisdom and experiance with international affairs.I for one, can't wait to read what you propose we all do, under your guidence!


as it hapens i also stated

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 20:38

as it hapens i also stated life in a council house, lost everything in 1993, hoe,business and marriage and got up after a while and did it all again i do have three little appartmensts in moscow that house my wifes family paid for with money i worked my butt off for., a worth very little, they cost $25000 eaxh just over four years ago Not big, 40 sq meteres each they are, and when i leave mosocw i'll have to sign them over to babuska and her sisters, hope that clears that up. My own family live in a rented 50 sq m appartment, two rooms with a divan. the bedroom for the daiughter. On my way back after 1993 i worked for a while in a factory puttting dehydreated soup into packets, worked as a labourer and refeused to go on the dole when i was medically unfit. so trust me i know what depair is, thats how i know how to fight!

Yes some are more fortunate than others, some may be luckier tham others, but my own familys dreams rest on us recovering our money, same as the rest of you. So I don't get mad about those sort of commens i say thanks for the suppooet and lets fight on.


Life

  • Yorkie
  • 13/10/08 10/12/09
  • a depositor
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  • Wed, 12/11/2008 - 21:38

Also started life on a council estate. My dad wanted more from life for himself and for us and put up with a hell of a lot to achieve that. My husband has been dealt more blows than any man should ever have to bear. He gets knocked down but he gets up again. I am so proud of him, but this is proving to be too much, Not coping too well at the moment,


Yorkie,I know you have read

  • cottesmore
  • 21/10/08 16/07/12
  • a depositor
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  • Thu, 13/11/2008 - 08:59

Yorkie,I know you have read it so many times,but, be brave and hold it together.I am really confident that things really will turn out well for everybody.I was like that at the start of this nightmare.I now am feeling better just by being with a group of similar people.I believe some breaking news will come very soon.
Kind regards to you both.Mark


OK, will move on!!!!!!!

  • cottesmore
  • 21/10/08 16/07/12
  • a depositor
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  • Wed, 12/11/2008 - 20:45

OK, will move on!!!!!!!


Rushing a cunning plan?!

  • Ally
  • 13/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 10:33

Ramsey Resident

As the FSC themselves say in the extract below from a letter posted at the link below, whichever way they go payout's will probably be on the same timescale, so why liquidation in such a rush?

http://www.ksfiomdepositors.org/forum-topic/could-there-be-another-postp...

"As you have been monitoring the situation you will have seen the explanations from the Commission, the “liquidator provisionally” and the Government about the steps that are being taken to seek the best outcome possible for depositors. However, this is taking time. The adjourned Court hearing is due on 27 November. Whether that Court hearing grants a further extension (for some form of sale or reconstruction) or decides to wind-up KSF(IOM), in either event it is likely that it would be at least a little while after that date before funds are available to depositors."


How much confidence can you

  • Anonymous
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  • Wed, 12/11/2008 - 22:29

How much confidence can you have in a regulator that persists in using the word provisonally as a noun?

The correct title is "provisional liquidator", not "liquidator provisionally". This all arises from the wording in the Manx legislation (and the court order made on 9 October) which, as I recall, uses the phrase (approximately) "the court shall appoint a liquidator provisionally".


How much confidence can you

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Thu, 13/11/2008 - 03:11

About the same amount as I have in our friend and anyone else who suggests to me that I should compromise my right for a good payout to to appease someone who is already guaranteed of close on 100%.


mainwaring

  • Anonymous
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  • Thu, 13/11/2008 - 03:55

I did not suggest anything of the sort. You really should make the effort to get your brain in gear before spouting off.


elgee

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Thu, 13/11/2008 - 04:09

That's good, then we are both quite clear then.

The same may be said for you, you are quite loquacious in your opinion of people, and seem to think that posters here may be in some way inferior to you. I for one am not and as such will not be spoken to in that manner by you or anyone, "betters" or not.

If you care to treat me with a little respect, then I shall return the favour to you.

We appear to be losing sight of the fact that return of our money is the subject on discussion here, not scoring points in a childish game.


staying objective

  • djlondon
  • 13/10/08 31/05/09
  • unspecified
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  • Wed, 12/11/2008 - 16:20

I know it's difficult but we have to remain objective and slightly optimistic. As far as I understand, every other retail deposit that was/has been at risk worldwide has been guaranteed and covered by either the parent bank or a government. The UK government has agreed to cover every single retail deposit - no matter what amount - for those savers in Icesave/Landsbanki. The Icelandic government will cover all their domestic retail deposits in full. That means the only anomaly would be KSFIOM if retail deposits above £50k were not covered - by someone somewhere. If they actually allow this to happen and by being the only case worldwide, this will stick out like a sore thumb. It will also destroy any credibility that the IOM has as being a place to keep your cash - and rightfully so. Here are the options: find a buyer for the savings book, repatriate the funds from the UK (which MUST happen in my opinion as you cannot steal money from A in order to pay back B), eventually get the Icelandic goverment to pay up or the UK might agree to cover the losses (in order to be able to state that no depositors actually lost their money). There's quite a lot to hang on to and quite a few possibilities there but the real issue is TIME. All of this will take a lot of time to sort out - whichever option is finally agreed. That's the way of the world. I personally think that there is a lot of hope and also a lot to fight about if the worse happens but just like everyone else it's the waiting that will kill us all first....