Kaupthing Edge CHAPS Transfer

Chippy99

trevs707 wrote: »

I agree. It's ashame we don't appear to have any solicitors who are members of MSE who would be able to give us all a steer here.

Yes, I think it’s very dubious. In UK law trading while insolvent is a criminal offence for which the Directors are personally liable and can incur personal liability for the debts arising!

As late as Tuesday afternoon, KE were still saying this:

"In recent months, many banks have been downgraded due to market conditions. In line with this, we have recently been downgraded by Fitch. We anticipated this downgrade and remain comfortable with the quality of our loan portfolio which is well diversified geographically and by industry sector. Kaupthing remains a profitable and very liquid bank."


If it transpires that KE was insolvent at that time and that we lost money, we could actually sue the directors!

Dealmad

I was promised my money would be in moved today yet it has not , they told me 48 hours max!!

While i did expect it to take longer then normal they said due to this busy period it would take 48 hours , its passed 48 hours


Im not going to panic just yet as its to soon too , lets all start to worry if by the end of next week we have nothing

Chippy99

UnhappyHarry wrote: »

Come on guys. We all wanted to raise the profile of this situation. Is there a ready volunteer for my message or trevs707 from Channel 4?

Sorry chaps. (a) I am at work tomorrow and (b) I live in Bristol, so its a double no from me.

kasbridge

Ippylady wrote: »

Just spoke to a guy at ING and he said he had just had an update thrust into his hand that ING will be writing to KE customers in the next month or so telling them of changes to their accounts etc.
Still doesn't help with the CHAPS/BACS payment. Was told by KE that ING had suspended all CHAPS/BACS transactions, this I was told at ING was not true and to go back to KE???????

Suspect the truth goes something like this;

1. Clearing bank suspends processing of KE transactions due to insolvency fears (I know that this happened) and freezes trading a/c.

2. Frightened punters (and peiople with planned withdrawals) continue to post Chaps and BACS requests.

3. KE goes bust.

4. Process now underway to sort out the mess and get some liquidity into KE to (a) re-instate customer balances for tx to ING (b)process transactions sat in queue.

This is my optimistic view based on ING statements that all transactions will be honoured and processed (not sure when).
K.
PS I have emailed Martin and team also to take up thhe media opportunity - WE MUST NOT MISS THIS!!!!!

Dealmad

UnhappyHarry wrote: »

Come on guys. We all wanted to raise the profile of this situation. Is there a ready volunteer for my message or trevs707 from Channel 4?

Im tempeted , but what is it they actually what to interview for?? just because its taking longer then normal to withdraw?

It is worrying yes , but until we know where we stand then there is no point crying about it.

trevs707

kasbridge wrote: »

Suspect the truth goes something like this;

1. Clearing bank suspends processing of KE transactions due to insolvency fears (I know that this happened) and freezes trading a/c.

2. Frightened punters (and peiople with planned withdrawals) continue to post Chaps and BACS requests.

3. KE goes bust.

4. Process now underway to sort out the mess and get some liquidity into KE to (a) re-instate customer balances for tx to ING (b)process transactions sat in queue.

This is my optimistic view based on ING statements that all transactions will be honoured and processed (not sure when).
K.
PS I have emailed Martin and team also to take up thhe media opportunity - WE MUST NOT MISS THIS!!!!!

Can you let me have Martin's email so I can pass the C4 reporters contact details onto him & his team?

MuddledOfMiddlesex

I went on Sky News/Five News about Icesave on Tuesday so I doubt they'd want me again but I might be up for it - even though I might look a right wally for having accounts with Icesave and KR, but am near the Sky HQ in Osterley and I think Ch 4 news is also provided by Sky (then again, might be ITN). PM me if you think they'd be interested.

Dealmad

trevs707 wrote: »

Can you let me have Martin's email so I can pass the C4 reporters contact details onto him & his team?

Well Martin may go on and tell channel 4 news how he warned eveyone not to touch KE :rolleyes:

kasbridge

Sorry, had to use the abuse button just like the other poster.....
K.

trevs707

Dealmad wrote: »

Im tempeted , but what is it they actually what to interview for?? just because its taking longer then normal to withdraw?

It is worrying yes , but until we know where we stand then there is no point crying about it.

That's the point, we don't know where we stand and the conflicting information on this thread is evidence of this. I have her contact details and you will be doing everyone a great favour if you do go ahead. Please let me know if you want them.