Icelandic Banks - The thread for OFFSHORE savers

Worried3232

Broke_Bule wrote: »

As with earlier posts I would encourage everyone to e-mail the UK Chancellor. Here's my text based on redbajan's (see post #192 page 10):

Dear Mr Darling,
I am one of many British expatriates who had significant sums, built-up
over many years work overseas, invested with Kaupthing Singer &
Friedlander (Isle of Man). KSF (IOM) collapsed yesterday as a direct
consequence of the UK Govt's decision to put KSF (UK) into
administration - it was revealed yesterday that KSF (UK) had taken 60%
of KSF (IOM) depositors' monies and so of course KSF (IOM) had no chance
of being able to meet the demands of those losing confidence in
Kaupthing.
While the UK Treasury may not be responsible for financial matters in
the Isle of Man, I would ask you to accept your moral responsibility and
include the plight of KSF(IOM) investors in your negotiations with the
Icelandic authorities in Reykjavik today for the following reasons:
1. The very close relationship between KSF(IOM) and KSF(UK) which
effectively operated as one company.
2. Because the failure of KSF(IOM) was precipitated by the UK
government.
3. Because the majority of KSF(IOM) investors are British citizens, who
although non-resident, still visit the UK regularly, pay taxes to the UK
government (tax on Uk income, VAT, council tax, fuel tax, etc.) and are
registered UK electors.
4. Because, like many others, I invested my money with the Derbyshire
Building Society which had a long-standing reputation and a guarantee
from its UK parent - a guarantee that was embraced by Kaupthing Bank hf
when it took over the Derbyshire (IOM) last year.
5. Because the UK has responsibility for the foreign affairs of the Isle
of Man, which clearly by itself has no clout with Reykjavik.
KSF (IOM) investors are seeking the following actions:
1. That KSF (UK) repays all monies it has borrowed/taken from KSF (IOM).
2. That Kaupthing Bank hf, now under the control of the Icelandic govt,
honours the guarantee it gave to Derbyshire investors when purchasing
the business last year: "Kaupthing Bank hf, the banks ultimate parent
will provide a parental guarantee which replaces the parental guarantee
from Derbyshire Building Society from the date of completion, meaning
the customers can continue to have peace of mind regarding their
deposits"
I wish all success to the Treasury officials in their negotiations in
Reykjavik,
Best regards,

Unfortunately I think we are some way down on his priorities behind the UK depositors and all of the UK councils and retail deposits

Worried3232

gomann wrote: »

Letter to The Editor at Daily Telegraph ... I just felt a bit better saying it, even if unpublished!

I have never worked or lived abroad I just thought I would get a better rate there as a higher band tax payer and pay less tax on my savings. I even checked this with the FSA first and they said this is ok?

Dave_Braddan

Monkeyface3604 wrote: »

Dave

Do you live on the Isle of Man?

Are you aware of the action group web site?

www.ksfiomdepositors.com

Yes I do live in IOM and yes I am aware of the action group I joined this morning.

If I have any information from on island then I will post it onto this forum but only if I am sure the info is correct or as sure as I can be. Some of the info that is being put onto the forum is pure speculation and is not helping matters.

Worried3232

florence_2008 wrote: »

I thought it would be, just wanted to check to make sure.

Thanks for getting back to me.

No problem we are all in it together see you on the new site that has been set up

Worried3232

I'm very worried by the lack of paper work I have, I have no account statements or any proof in writting of my last account status as it was all on line.

Any thoughts on how we can prove this?

occamsrazor

Everyone... I'm cross-posting this to the different websites as I feel it's important. If you need to see anything on the former Kaupthing Isle of Man website, Google Cache is still working and showing almost all the pages. Obviously though you cannot login to your account.

More importantly they've cached all the documents available there. I've downloaded all of them I could find, added some documents I'd saved previously, and have now uploaded them all as a single zipped folder. This contains all the account terms and conditions, brochures containing parental group guarantees, Derbyshire information, application forms, routing details, etc.

You can download it here:

http://www.mediafire.com/?sharekey=ab54fda9e7e7e3f9d2db6fb9a8902bda

Hope this helps eventually....

bblair

I wouldn't worry too much about the lack of bank statements.
The bank and the liquidator will have the full record of deposit holdings - names and addresses etc. If there is any money to be had, they will know where it is owed. ... IMHO

occamsrazor

Anyone wanting to speak to the media? See BBC Radio 5 interview request here:

http://www.ksfiomdepositors.com/cms/?q=node/24

And request from the Daily Mail here:

http://www.ksfiomdepositors.com/cms/?q=node/27

Worried3232

bblair wrote: »

I wouldn't worry too much about the lack of bank statements.
The bank and the liquidator will have the full record of deposit holdings - names and addresses etc. If there is any money to be had, they will know where it is owed. ... IMHO

But last time I looked online it said I had sent the money and my account was empty of course it was never sent. My worry is that is what their records wills show for me nothing. Assuming there is any chance of getting anything

expatfrance

I would try and post this on the new forum but there seem to be some problems at the moment.

There seems to be some doubt as to whether the old compensation scheme or the new compensation scheme would be applied as the bank was put into administration before the new schem was announced.

Surely it is not the date that the bank collapsed that is important but the date that the Compensation Scheme is activated. As we are constantly being told by the FSC the scheme has not yet been activated so when it is it will be the new scheme that is will be activated.
IMHO