Kaupthing Singer and Friedlander Isle of Man (small business)

AJBIRD30

Hi, Are there any other small business out there like us that are today finding it hard to find out exactly what is happening and whether our money is safe, We have about £150k in account with Singer & Friedlander (IOM) not profit this money is needed to pay people/suppliers. The UK FSA say Isle of Man is not covered by them, The Isle of Man FSA say they do have scheme for small business to claim 75% of there savings upto a limit of £15k (which is nothing) but today say they are holding a meeting and may cancel that completly and not have any cover for small businesses.
It seems unfair that so many small companies out there may now have to close because of this and through no fault of there own resulting in many job losses, also small businesses should have the same right as single investers at least so we can try and get at £50k back. If any other small business out there are also asking questions today or if anyone has any answers please let us know.

occamsrazor

Hi - kindly use this existing thread if you don't mind - we're trying to keep all info about offshore accounts in one place:

http://forums.moneysavingexpert.com/showthread.html?t=1203227

Thanks.