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UK Government "owns" largest Isle of Man Bank

Posted 28/11/2008 - 15:33 by mr plod

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On the Isle of Man there is a local bank “Isle of Man Bank”, which was formed in 1865. There are 17 or so branches throughout the island.

H.M Treasury

Posted 28/11/2008 - 15:14 by peecee9031

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I applied for information under the freedom of Information act to H.M.Treasuy and found the answer rather interesting , are the treasury the only ones who believe that Kaupthing , Singer & Friedlander

They Arrested my MP Yesterday!

Posted 28/11/2008 - 12:06 by Peasant

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My MP Damian Green was arrested yesterday
Party leader David Cameron has reacted angrily, saying it raises questions about Britain's democracy when an MP can be arrested "for making public information that the government didn't want to be made public". The Tories say nine counter-terrorism officers were involved in the arrest
Does any of this sound familiar?

Continue to take it to Brown and Darling

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Some years ago I ran a small company and had waited over six months for payment on a large invoice from a company.

DOUBLE WHAMMY

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Group for those unfortunate enough to have deposited savings in BOTH Derbyshire / KSF / Kaupthing Edge Isle of Man AND Cheshire / Landsbanki Guernsey Ltd.

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BUYER BEWARE

Posted 28/11/2008 - 09:59 by popotla

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From the glossy brochure sent to Derbyshire customers:

Let's get the 550 million back!

Posted 28/11/2008 - 04:19 by AJM UAE

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Many of us have mentioned the issue of the 550 million pounds that is currently being held in KSF UK and the need for us to put pressure on the UK government to return it to us.

Event calendar or diary needed?

Posted 28/11/2008 - 00:42 by romasanta

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No, not for Christmas.

E&Y Creditors meeting of Kaupthing Uk 1st December

Posted 27/11/2008 - 21:53 by frozenrover

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I presume PWC will represent us on Monday - has anyone had confirmation of this ?

We want it all Back

Posted 27/11/2008 - 18:47 by nivit

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There seems to be a change in attitude afoot and I don’t think it’s in our interest.

Meeting with Mark Hoban/Legal

Posted 27/11/2008 - 18:43 by Diver

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I had a meeting with Mark Hoban (shadow financial secretary) today and thought I should share the outcome of the meeting as well as my subsequent thoughts – this won’t be easy reading for some of you.

Treasury Minister welcomes more time to progress KSF IOM solution

Posted 27/11/2008 - 18:19 by 208

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Treasury Minister welcomes more time to progress KSF IOM solution

WHERE DO WE GO FROM HERE (27 November) to 26 January 2009 ?

Posted 27/11/2008 - 17:30 by Lucky Jim

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Quote from provisional Liquidator's statement on the KSFIOM website 27 Nov:

"The period up to 29 January 2008
It was made clear to the Court that I will continue to pursue my duty to preserve and protect the assets of the Bank. I will also continue to see parties interested in purchasing all or part of the business." Unquote

The Court has made it clear that it wants evidence of significant progress by mid January. SO DO WE !

So where do we go from here?

I suggest:
1. we see what Diver & John Wright, Notary, has to say followintg the hearing
2. we make it clear to Mike Simpson & the PWC that we expect them to make space in their work schedule to keep us posted of significant developments, in particular
(a) the identified present location of the £550,000,000
(b) the progress being made to recover assests, especially the £550,000,000
(c) the reasons why there are problems in recovering assets, especially the £550,000,000
-- every time assets are recovered we are informed forthwith of the amount
(d) we are informed whenever a realistic 'rescue offer' is put on the table (we are not asking for confidential information to be given to us eg:names)
3. we ask that Mike Simpson gives us a 'Position Statement' NOW in relation to (a), (b), (c) & (d) above.

If he can't then he should tell us exactly why he can not do so, and to tell us why witholding this information is in our interests. He should be able to explain why we should have confidence in him representing our interests when his failure to date to keep us informed has caused us to doubt what he says in this respect.

  1. we shoud find out why IMF loans to Iceland now appear not to have included a condition that depositors have their money restored to them. Perhaps PWC &/or the IOM Government should be called upon to answer that

We must keep the ball rolling.....Any other suggestions?

PWC / LP / Mike Simpson - what do you expect from him? Comments about performance to date as well please...

Posted 27/11/2008 - 13:59 by laserblues2

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I spoke last night with some of the people at PWC in the IOM and explained how unhappy I was with the situation and the lack of communication to date.

Court Adjourned for 60 days + HELPFUL LINKS

Posted 27/11/2008 - 12:22 by Bottom Dollar

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Manx Radio. Court adjourned for a further 60 days to give more time. No further info given.

Editor (L J) - see Provisional Liquidator's Statement now posted on the KSFIOM website:

bets are on...

Posted 27/11/2008 - 08:49 by sad

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if any of us had any money left to gamble we could open a book on how many registered members will be logged on at around 11.30ish.....my bet 742...

3rd Update re IOM Legal Representation

Posted 26/11/2008 - 22:22 by Diver

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We are taking a slightly different approach to tomorrow's hearing in an effort to

1) Obtain funding for those depositors most in need of help

Jonathan Smalley

Posted 26/11/2008 - 19:03 by Tricky Dicky

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I emailled Jonathan Smalley earlier today and asked him 'why' he was so interested in our cause especially as he was not a depositor, and through his blogs members might think he was potentially 'adve

BBC PM programme 26/11/08

Posted 26/11/2008 - 18:37 by Nixi

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Katie was absolutely brilliant on PM.. It must have been a real trial for her!
Many thanks for being so brave!

You can catch it again here for the next day.. until 5pm tomorrow I guess..

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