YOUR STORIES

  • Anonymous
  • unspecified
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Posted: Fri, 10/10/2008 - 02:20

This is the place where you may post your story

Here is some guidance as to what you might like to share with us here:
- your status (eg: British UK resident, UK expat, etc.)
- whether you are retired or working
- whether you pay taxes in the UK (eg: on a pension)
- what you deposited with KSF IOM (eg: over £10,000... over £50,000.....)
- how you/your family have been affected by what has happened
- your current or future position as a consequence of not being able to get at your money

Note: at any time in the future feel free to post something again as an up-date
(eg: if you have become homless, if you are an expat having to return to the UK, if you are having to sell your house, etc..)

We need members prepared to be interviewed by the media (eg: national/local newspaper, radio & TV)

If you are willing to be interviewed , please post here.

NOTE: ONLY stories & relevant comments thereon should be posted here.
Anything else posted will be deleted by a moderator.

(Post updated 5:11:08 by LJ - admin/editor)

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Derbyshire

  • wodehouse
  • 11/10/08 31/05/09
  • unspecified
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  • Wed, 15/10/2008 - 14:33

Absolutely agree. Selling on businesses with shareholders is one thing. Selling on people's savings is another. We should have been given the chance to opt out at the time of the takeover, however inconvenient that would have been for the seller. I for one would have opted out, having looked at Kaupthing's 'overextended' status at the time of the sale, but I had invested in a DERBYSHIRE Manx bond that presumably will now never mature. Moral liability definitely, for, as they say, what it's worth.


liability of Derbyshire B.S

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

I also questioned the rational behind this sale.It seems that D.B.S " decided it was not part of their long term strategy to keep that part of the business" even after saying it was highly profitable...

I agree there is a moral liability here - it would be great to have some financial lawyers comment on this idea


Derbyshire contact details/ annual report

  • swissloss
  • 13/10/08 31/05/09
  • a depositor
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  • Tue, 14/10/2008 - 07:32

Fully agree - see my post under Contacts from Monday with an extract from the Derbyshire annual report and contact details. Please contact the Derbyshire and put some pressure on them. I have also contacted the newsdesk of the Derby Telegraph but suggest that local people apply pressure too - that will create more of a story.


who to pressure?

  • bloodybankers
  • 14/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 03:43

does anyone have a list of names and email addresses of the various people we should be contacting to apply pressure??... the liquidator, the appropriate isle of man legislator, the fcs, the relevant british government contact, icelandic government contact etc.? i want to make sure i contact all the relevant parties to stake my claim, but am not sure who or where to write to.

thank you to everyone.


CONTACTS

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Tue, 14/10/2008 - 18:42

Please check the Contacts button at the top of the page..... they are all there!

Cheers


who to pressure

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 05:50

They can all be pressured - not forgetting the Ambassador of Iceland to the UK.

Here in Canada I will visit the Console because they now owe the rest of the world alot of money


IOM Government

  • jeff harris
  • 14/10/08 31/05/09
  • a depositor
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  • Tue, 14/10/2008 - 03:42

I agree that maximum pressure should be placed on both the British and IOM Governments. I live in Malaysia and have emailed the constituency MP in the area where I still own a house.

How do I contact the IOM government, does anyone have email addresses?

My original investment was with Derbyshire IOM and they sold my three year investment to Kaupthing, with no option for me to withdraw the money, over 100,000 pounds. I intend to write to the Derbyshire UK to say they have a moral responsibility to at least help compensate savers who trusted their institution originally. I suggest other people in the same situation should also lobby the Derbyshire.

I do not support legal representation at this time, as the money spent on lawyers will probably be wasted.


Keep pressure Up

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 03:27

There are alot of financial fires burning in this Crisis and we need to keep reminding press,politicians and everyone that this fire is important.
The Goverment ensures that we pay our taxes and keep to the rules -well the Goverment needs also reminding that those of us who never bought into the mad borrowing of the last 20 years tried to save.

So keep the pressure on and the attention on this fire and keep fighting.


health of bank

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 03:22

Whilst I write this I can hardly contain my anger.
The Icelandic authorities new in the Summer that Icelandic banks where sick. However they kept it quiet and instead of calling meetings with European partners they just let it slide.

Iceland and its goverment will not rest as long as I live over this.


health of bank

  • brokefirefly
  • 12/10/08 31/05/09
  • a depositor
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  • Tue, 14/10/2008 - 03:23

How do you know that? Is there any evidence that you could give to the group if we needed it later?


Health of Bank

  • Relentless Posse
  • 14/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 03:41

Kaupthing profits fell 40% in second quarter and Moody downgraded the bank. I will try to get more detail .

Source Quoted in August -
- There have been fears that the banks’ rapid domestic and international expansion, financed mainly with overseas borrowing, could undermine their strength as the cost of borrowing has risen during the credit crisis.

These fears helped create a spike in credit default swap spreads to about 1,000 basis points, indicating the CDS market believed a banking collapse was very likely.


Bank Health and Kaupthing's CDS

  • VikingRaider
  • 10/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 20:57

I had planned to transfer from KSFIoM after Derbyshire sold out as I was concerned that the parental guarantee may not be enforceable under Icelandic law, but was impressed by KSF's rapid expansion in the UK and the fact that even the Cooperative Bank was borrowing ideas from KSF. The CDS problem was apparent by June, but Kaupthing was upfront about the difficulties and obtained a £2,000m Norwegian loan, (a feat in itself given the notorious conservatism of Norwegian banks) perhaps explaining why there was so little movement by British local governments, fire brigades and even constabularies who had almost £900m deposited with Icelandic banks. I decided to wait until November, dammit. Had trust not broken down between London and Reykjavik, I think KSF could have weathered the storm, but, alas, that was not to be. Nevertheless, I'd love to hear what the crimson-faced Norwegian bankers are saying about their Icelandic brethren behind closed doors! I bet I would blush at the language if I could understand Norwegian.


Norwegian

  • brokefirefly
  • 12/10/08 31/05/09
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  • Tue, 14/10/2008 - 21:02

I do understand a little Norwegian, so if anyone manages to get anything useful, please forward and I'll try to translate, including the 4 letter words!!


Recently signed on. Good to

  • Gavin H
  • 13/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 01:22

Recently signed on.
Good to see that we have some very good people fighting for us!!
As my wife and I are in Oz we can only provide moral support, but lots of it!!

Gavin


Looking for Others in Oz????

  • bruceila
  • 12/10/08 31/05/09
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  • Tue, 14/10/2008 - 01:29

Hi Gavin

We're currently in Adelaide & looking for others in Oz to correspond with & hopefully put together a decent & coherent message from down here. Interested?

Jeff


Worried sick in Oz . . .

  • drglowry
  • 14/10/08 31/05/09
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  • Wed, 15/10/2008 - 07:33

Hi Jeff,

Another Ozzie in the same boat. In Melbourne. Perhaps we can gather together enough of us to do, what? Can you hear Rudd and his champaigne socialists thinking "you got what was coming to you?" What do you think?

I retired only two months ago after 40 years in the workplace. And I thought working for the Arabs was hell!

Sleepless in Melbourne


Looking for Others in Oz????

  • Aussie Col
  • 13/10/08 31/05/09
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  • Wed, 15/10/2008 - 05:54

Hi GavinH & bruceila,

We are in Port Fairy, Victoria.

I just joined the "Australia" group which makes 3 members so far.

I've also spotted postings from Olivia93 and tonycBrisbaneOz who are both in Brisbane.

And, of course, there is stradivarious in NZ. Reckon he/she and others over the water should be welcome in the group, (perhaps the name should be broader)!


Another Aussie . . .

  • drglowry
  • 14/10/08 31/05/09
  • unspecified
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  • Wed, 15/10/2008 - 07:35

Please add us to the Aussie list - posting from Melbourne.

Cheers.


Hi Jeff Tina and I live on

  • Gavin H
  • 13/10/08 31/05/09
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  • Tue, 14/10/2008 - 06:42

Hi Jeff
Tina and I live on the Gold Coast and yes would like to be part of a coherent messege that we can send to all concerned from down under.
I feel a little guilty as I had serious concerns about the bank on the 2nd of Oct and managed to get the majority of our money out!! But still have a substantal amount lost in hyper space as we tried to carry out our last transfer on the 8th. and it has not appeared into our destination bank. So yes, please advise how we can assist.

Regards Gavin


Oz Action

  • bruceila
  • 12/10/08 31/05/09
  • unspecified
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  • Wed, 15/10/2008 - 01:22

Hi Gavin

Sorry about the delay in replying. On the move at the mo. On my way to Karratha via Perth for a few days. Got to get the coffers back up some how!!!
We've only recently emigrated out here and were using KSF as a holding bank prior to sending the money out to buy our new home. Cardboard box from Bunnings now, I suppose? Bugger all left of our cash at the mo.
We've already started sending correspondence to the various governors out here who may have any sort of tenous link to the UK but it could definitely do with a more solid approach from a number of people.
I suppose at some stage we could do with speaking??


Across the ditch

  • stradivarious
  • 13/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 03:33

I'm in Nelson across the ditch in New Zealand. KSFIoM had my life savings so I am now scrounging for change lost in the couch.
My violin was the only thing of value, both emotionally and financially. I sold it in July and it was very difficult to part with that friend that has been by my side for decades and shared many concerts internationally. The transaction was TT'd directly to my account on the IOM. Now my best friend is gone and so is the gift 'she' gave me for future. Someone must pay!!!


Local groups

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Tue, 14/10/2008 - 01:33

There are definitely others, including the guy who original set the site up. I'm planning on adding a "groups" facility very soon, which will make it easier for people to hook up by geography or other common interests.


Okey Dokey

  • bruceila
  • 12/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 01:42

Sounds good...the sooner the better. We need a full world wide input into this and if people can get together out with the UK, we may not feel so isolated. The feeling of impotence is overwhelming. Just wanna be doing something positive. If push comes to shove either me or my wife will jump on an aircraft back to the UK/IOM if it would help in any way. The 24th is drawing closer.


Information re (potential) loss.

  • follow_the_tao
  • 11/10/08 31/05/09
  • a depositor
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  • Tue, 14/10/2008 - 01:06

425K US Dollars apparently at risk at present.

Life savings.

Requested tranfer of the bulk of this amount - govt guarantee last wednesday. The receiving bank has not received the transfer (Lloyds in Uruguay). Fax tuesday night local time followed by phone call Wednesday morning 5am, IoM time midday. Was told fax to hand, all OK.

Currently in crisis mode. Have a small amount in Santander, one cash Isa and two pending tax claims. Otherwise I'm broke. Without ANY other asset.


Gordon go to HELL - We Have!

  • khan12009
  • 13/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 22:57

A Pashtoon who served with the British Army in Afghanistan, but lost my arm, and sustained shrapnel damage due to a land mine in Paktia province in June 2006. I was medically discharged and given a lump sum payment (fully taxed), and pension. £68K invested in Derbyshire BS(IOM) which transferred to KSF(IOM) last year. The money was to be used to facilitate a small holiday home in the country for my retirement so that I could spend the rest of my life in peace, and nature.

NOW I have lost all. With the stiff upper lip of an Englishman "Shame on you Gordon"


Pashtoon - Respect

  • mikepapa
  • 10/10/08 n/a (free)
  • a depositor
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  • Tue, 14/10/2008 - 17:44

Sir,

You have my respect and thanks for your service - it would appear a sentiment not shared by HMG.

I would be obliged if you could submit your story for publication in any Britsh National Newspaper.


PR Dream

  • tremes
  • 13/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 23:02

Really sorry to hear about your situation Khan12009, but you would be a powerful 'story' for the media to highlight our situation and that we are not all 'fat cats' and 'spivs'


I'm so sorry to hear what has

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 23:01

I'm so sorry to hear what has happened to you - that is really, unbelievably unfair.
Where are you currently? Would you be interested in speaking to the media about your story?
Welcome to the site.


Always Interested

  • bruceila
  • 12/10/08 31/05/09
  • unspecified
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  • Tue, 14/10/2008 - 01:22

We are currently in Adelaide, South Australia. We're happy to speak to anyone if it keeps the profile of our plight up.


Thanks A Bunch

  • bruceila
  • 12/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 22:11

Dear Gordon & Alistair

We would like to take this opportunity to thank the British Government for its well managed use of the anti-terrorism law. We always knew it would come in handy for something. Never in our wildest fantasies did we believe it would be invoked to shaft the indigenous, law-abiding, hard-working tax paying British citizen.

After 10 years of Gordon’s and now Alistair’s ineptness at the treasury, blowing the nations gold reserves and leaving the best pension scheme in the world a laughing stock, we finally decided enough was enough and it was time to get out of Britain. We were lucky enough to be able to emigrate to Australia, a decision we did not take lightly, being proud, hard working Brits, and left the UK only 6 months ago finally thinking that we could be screwed over no more by the British Government. As we were non residents, we decided to move our money to Kaupthing Singer & Friedlander in the Isle of Man for the short term whilst establishing ourselves in our new homeland prior to investing in property here. Paying full taxes on the money, we might add.

Imagine our delight to find there really is no escape from being shafted by the British Government! After 25 year of paying taxes, scrimping and saving, we find that we are now penniless due to the farcical and draconian way Kaupthing Singer & Friedlander in the Isle of Man has been handled by not only the British but Manx and Icelandic governments.

Coming from working class backgrounds we both started with nothing. We could have decided to do what some do from that sort background and sponge off the state for their living. We decided on a different course, one of working and providing for ourselves. No re-distribution of wealth for us Mr Brown, thank you very much. A career in the military for me and banking, funnily enough, for my wife. If I had known that I would have been putting my life on the line for these people who latterly and casually just wreck your life at the stroke of a pen, I would certainly have thought again.

Our forced return to the UK is now imminent, as we have no money and we are now looking forward to Gordon’s redistribution of wealth in our direction, as we claw all of the benefits we can as economic migrants. We’d like a shiny red car and our council flat to be in St Johns Wood please.

We hope you are proud of what you have achieved for the British people and can sleep easy in your bed! We would like to think your conscience is propping up the sleeping pill manufacturers, but we doubt that very much. It’s obviously no fault of either of you. It’s everyone else’s.

We’re sure all of the money invested by local British governmental organisations will no doubt find its way back to the mainland in due course, whilst the poor old private individual will be hung out to dry.

Yours truly,
Mr & Mrs Gutted


Received by email (not about me)

  • ng
  • 11/10/08 31/12/20
  • a depositor
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  • Mon, 13/10/2008 - 21:26

Sitting out here in Paris, I would like to know what I can do to help all of
us recover our deposits IN FULL. As British expats, we don't have an MP to
help us defend our interests.
I am prepared to take part in a class action and contribute to a fund to pay
legal advisors. Would it be helpful to organise a demonstration in London?
I would jump on the first Eurostar if necessary.
I personally have over £200,000 invested in 1 year bonds, money which was
intended to buy a small property in England so that I can come home and spend
more time in the UK. I get the feeling that KSF depositors in UK and Iceland
have their deposits 100% guaranteed and that we on the Isle of Man are the
only ones to lose out. I only put my funds in KSF Isle of Man because I read
the small print and believed KSF litterature stating that deposits were
FULLY guaranteed by KSF Iceland (parental guarantee). Surely we have a case
against them for failing to accept their liabilities with regard to this
guarantee.
I am not very computer-literate and would welcome having a telephone number
to call to express my frustration.


The small print....parental guarantee

  • Lostinspace
  • 13/10/08 31/05/09
  • a depositor
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  • Wed, 15/10/2008 - 06:13

I also fell for this "full parental guarantee" bit and I quote from the letter I received on 20th November 2007, from the Derbyshire Offshore.

"The reference to the Derbyshire Building Society having given an irrevocable and binding undertaking to ensure that, while Derbyshire Offshore remains it subsidiary, it will at all times be able to discharge its financial obligations as they fall due will no longer apply but will be replaced by reference to Kaupthing Bank hf having given an irrevocable and binding undertaking that, while Kaupthing Singer & Friedlander (Isle of Man) Limted remains its subsidiary, it will at all times be able to discharge its financial obligations as they fall due."

I hope I'm wrong but I'm sure some sharp-suited lawyer will point to the phrase about being a subsidiary.....in other words, the nano second the mother ship in Iceland was nationalised, us IOM depositors were smartly cut lose, Iceland no longer having to abide by this (now laughable) parental guarantee....

If it really comes to a legal fight, however, surely we have some kind of case to back this all up? I hope the IOM authorities, who themselves have millions in KSFIOM - and who were on the board (!) - will look long and hard at this.


All gone

  • tremes
  • 13/10/08 31/05/09
  • unspecified
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  • Mon, 13/10/2008 - 18:48

My Father has had his lifetimes savings stolen overnight....simply gutted...thankyou to all making an effort to getting this nightmare sorted out


How do you explain to your 3 year old why Daddy's so sad?

  • Offshore_Victim
  • 13/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 18:07

I was on a short break to the UK, spending time with the family trying to unwind after we'd brought a bit of a fixer upper at the beginning of the year, it's been a complete money pit that has drained me physically, emotionally and us both financially.

I'd placed all of our remaining savings into Kaupthing EDGE (IOM) until they were required, not much compared to some as it's only £23.5K but it's all I had!

I hadn't been watching the news or reading any papers whilst I was in the UK and the first inkling I had that there may be a problem was reading an article whilst on the flight back home in the local paper, it was about Landesbanki Guernsey being put into administration .

I doubted that there would be a problem with my EDGE account as I know both the Landesbanki & KSF IOM set-up's pretty well, but as I needed the money reasonably soon I decided better safe then sorry and sent a secure message to close the account and remit the funds back to my nominated account, this was at 22:30 on the 7th.

I watched the situation deteriorate rapidly on the 8th and kept an eye on my account through the EDGE on-line banking system throughout the day expecting a reply to my message which never came, although a statement of assurance was issued via this method. At approximately 19:30 the EDGE online banking system was updated with the days activity and I knew my instruction had definitely not been actioned.

We'd already purchased a new kitchen but rather then paying for it at the time I decided that I'd put 10k on the store card which was offering 6 months 0% Interest, moneys better in my bank working for me rather then a multi-national I thought.

Well after making the minimum payment for the last 6 months I have just over a week to beg and borrow 8.5k before the 23.9% interest kicks in, if I can't I scuppered as I don't even have enough cash left to make the minimum payment!

I feel for all of you who's full deposit isn't covered by the compensation scheme but I can assure you that I take little comfort in the fact that as small depositors we will get our money back because this really doesn't help us in the short term!


Kaupthing Singer Friedlander, Isle of Man

  • AMG56
  • 13/10/08 29/05/14
  • a depositor
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  • Mon, 13/10/2008 - 17:48

I'm new to all this, so please bear with me .......Firstly, I'd like to say that my heart goes out to each and everyone of you with similar stories to my family's.

Also, I'd like to tell you all about my situation ......... 6 months ago we invested £550k into an offshore bond through AEGON Scottish Equitable. 93% of this money was invested into Kaupthing Singer Friedlander Isle of Man in a 1 year fixed rate account with, we were assured, little or no risk attached. We purposely did not invest into stocks and shares in order to safeguard our investment.

This money was made through the sale of our family business last year. We now find ourselves in the unenviable position of having no jobs; no other money and no potential source of income. Not only that but, should the money be lost, we will have no way of paying our taxes on the sale of the company as this money was part of the investment.

No one seems to be taking responsibility. We are receiving no info from Scottish Equitable and are receiving conflicting information from other sources.

We are at our wits end. All we have, at the moment, is hope!!!!!!!!!!!!


Life's coincidences

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 15:50

I thought I'd share how the universe clearly wanted to keep reminding me of what has happened to all of us since last Thursday in a series of bizzare coincidences (this is all true but is also meant to be a bit of light hearted relief in this depressing time).

I was in the US last Thursday when I looked at my laptop to see news of Gordon's freezing of Icelandic assets. As soon as I saw that headline I suspected the worst and was proven right when I tried (and failed) to access the KSF IOM website. My first reaction was to ring home (despite the time difference) and, as I looked at my mobile to dial the number, the fist thing I saw was the name of the GPRS provider..'EDGE'. That didn't improve my mood :-) About an hour later, in an attempt to distract myself, I switched on the TV and the first channel that came on was showing a re-run of 'the World's Strongest Man' competition. The first competitor was from Iceland! That soon got switched off. The next day I flew back in to Heathrow to find that the baggage carousel that my bags were due to come up on was being shared by a flight that had landed a few minutes before me...from Reykjavik!!!! I avoided any contact with our Scandinavian pals as I might not have been able to resist a whole number of primeval urges that suddenly surfaced. On Sunday I got an email from an on-line travel provider suggesting I should visit 'the land of geysers and Viking lore' and today I walked in to my local food store to be greated by a big sign advertising a 'special' on.......you probably guessed it...Icelandic Cod! I'm not sure what other quirky irony the universe in going to come up with next but I'm actually beginning to look forward to them...must be my gallows humour! :-)

Keep positive all...we're strongest together and if we don't let our hopes dwindle.


Diver's Life Coincidences

  • joooojoooo
  • 10/10/08 n/a (free)
  • a depositor
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  • Mon, 13/10/2008 - 23:21

Thanks for that! For a man who has lost(?) what I have lost there's not much to smile about - but, you made me have a laugh!! Thanks.


On the day KSFIOM collapsed,

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 16:01

On the day KSFIOM collapsed, I received a spam email for the sort of products one might use in the bedroom, if you know what I mean.
The subject header read "HOW TO INCREASE YOUR ASSETS!!!!"
It wasn't funny.


Thanks to all of you

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 15:23

To all,

After careful consideration of everything that has happened, was hoping for slighter better news today on any front as we all were. I now believe I have very little alternative than to use the little cash I have left to go back to France and start liquidating any assets that I can before returning to the UK and relying on state handouts.

The problem being and why posting this, is that while in France I have no internet or telephone access hence will not be able to keep abreast of any developments or assist the forum in anyway. I will of course try to access via internet cafe's, piggy back wifi connections and the like but these can not be guaranteed, even GSM signals are weak and unreliable. Strangely one the reasons I bought the property after years of having to carry initially bleepers and then mbl's 24 hrs a day - wanted some peace & quiet.

From the various polls posted I'll go along with expat as spokesman, have offered a contribution to the fund (not sure if this went through as came up with an error page just after) will pay by paypal but will need to know where to send in the next few hours. If we are given an option to keep monies in IoM then providing interest is paid I would go along with the capital being left in situ for a given period. I have been in direct contact with 1 member and if he is willing I can effect a proxy and / or give full details as required to effect any vote on my behalf.

I would like to thank all of you for your support over the last few days and would look forward to meeting in hopefully much better circumstances.

Good luck everyone and lets not give up hope of a successful outcome with 100% of our deposits back and working for each & everyone of us.


Very rough location

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 18:59

Many thanks to all who have emailed with assistance in my communication problem, however as France is approx 5 x the size of UK and the ex-pat community is spread out all over that area. My very rough location is Brittany / Normandy border & some distance from the coast.

I would also like to point out that returning there to liquidize some of assets is in no way a defeatist attitude quite the contrary I'm in this to the end, however my initial calculations of approx 6 weeks money left didn't take into account a couple of smallish bills (well they would have been small) UK car insurance and French government tax due in a couple of weeks and of course the ferry tickets and fuel costs to get over there and back again. With no income other than what would have been received from the deposit I have to do something sooner rather than latter and certainly before going into overdraft on the current account.


Where will you be in France?

  • saversinfrance
  • 10/10/08 31/05/09
  • a depositor
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  • Mon, 13/10/2008 - 16:12

It's a long shot - France is a big country - but if you're anywhere near us, perhaps we can help with communications etc?


email enabled

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Mon, 13/10/2008 - 16:24

my direct email is enabled


Can't grasp it!

  • Podcar
  • 13/10/08 n/a (free)
  • a depositor
  • Offline
  • Mon, 13/10/2008 - 12:50

I'm in the same boat as all of you who have suddenly been cut off from their savings through no fault of their own - but I'm feeling very lonely.

I placed my inheritance from my father, who died in 2007, in Derbyshire Offshore, which was bought by KSF in September 2007. Any anxieties I'd had about my financial security in the coming years were completely neutralized as I realized that I would have enough to lead a reasonable lifestyle when I become a pensioner in two years time - true, not a life of luxury, but not a life of poverty, either.

I closed off two-thirds of my legacy in a Fixed Account for one year and dedicated the remaining third to financing the renovation of my home. At the end of August, my husband and I moved out of the house to rented accommodation, so that the builders could move in. The house is currently in an unlivable condition: floors, kitchen and bathroom have been ripped out, parts are roofless, there is no flooring, windows or doors.

I cannot grasp that I have been denied access to my own money because of global economic forces over which I have no control. I am at a total loss as to how to proceed with my renovation, with my life.


call from the FSC

  • matti
  • 11/10/08 31/05/09
  • a depositor
  • Offline
  • Mon, 13/10/2008 - 09:31

Deleted by moderator -
only stories & comments thereon to be posted in this thread


KSF - what a joke

  • Lostinspace
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Mon, 13/10/2008 - 08:29

Probably like many on this site, I came to KSF by way of the Derbyshire. Very happy with them, never heard of KSF but checked them out as best I could and it all seemed to pan out OK.

The classic of course was the "irrevocable and binding" committment from Aidan Doherty that my funds would be covered, so...."customers can continue to have peace of mind regarding the full security of their deposits."

That made me feel OK but of course, in the end, it really means nothing. Or is there really a legal backing for that? The Icelandic FSA have told me we are NOT covered, so I feel more gutted/duped than ever.

I have to say the best thing to come of this - if one can really say that - is this website. So glad that I'm not alone and really, really hope that I/we can get my/our money back. My stomach is really churning now...


Edge Accounts explanation needed please

  • Karen N
  • 11/10/08 31/05/09
  • unspecified
  • Offline
  • Sun, 12/10/2008 - 20:11

Please could some one explain. I thought that all Edge accounts had been taken over by INGS.
Was this just Kaupthing UK Edge accounts or Kaupthing IOM Edge accounts?
Sorry if this seems a daft question but I am very unclear about it?
Thank you in advance for the answer


Edge accounts

  • skintagainnow
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Sun, 12/10/2008 - 20:15

Just UK accounts IoM is out in the cold - I'm one KE IoM account


Edge Accounts

  • brokefirefly
  • 12/10/08 31/05/09
  • a depositor
  • Offline
  • Sun, 12/10/2008 - 20:15

As far as I'm aware, if you had a Kaupthing UK Edge Account, your account has been taken over by INGS. If you had a Kaupthink IOM Edge account, your account is with Kaupthing IOM and you are in the same boat as the rest of the users on this site: your account has not been taken over by INGS and you are waiting to find out if you will get any of your money back. I hope this helps!


Only Kaupthing Edge UK

  • occams razor
  • 10/10/08 31/05/09
  • a depositor
  • Offline
  • Sun, 12/10/2008 - 20:15

Only Kaupthing Edge UK accounts were taken over by ING.
Kaupthing Edge IOM accounts were not and remain with KSFIOM.


what now?

  • Muanza
  • 11/10/08 31/05/09
  • a depositor
  • Offline
  • Sun, 12/10/2008 - 20:01

Dear All,

I am a German expat living in Mzoambique for the past 11 years and have opened a account with the original S&F branch because it was impossible to open a foraign currency account in Germany. The bank was recommened by british friends who were satisfied with the bank. I got my monthly salary paid into the account and used to transfer part of it down here to cover expenses and save the rest for a house. Now I have absolutley no access to it and I have bills like children school fee's to pay, rent and normal living expenses.

I am in full support to have a spokesperson and to go public with this, the news are full about the help other subsidiaries of Kauphting are receiving, but not a word about the depositiors of the IOM branches!!! Its a huge scandal!

Muanza