Icesave compensation payouts... how to keep the pressure up

innovate

qamwc1 wrote: »

I wonder if the above is correct. Section 10 of the Act says to me that after the freezing order is made it must be laid before Parliament and approved by it - the 28 days limit applies to this. Section 8 says a freezing order lasts for 2 years.

That sounds quite a bit better than the earlier assessment. Does anyone know whether parliament has actually approved the freeze?

shindigger

innovate wrote: »

cwcw, I agree with you, legal proceedings could take years.

I don't agree with you, though, that suddenly those UK citizens who decided for themselves to put their money under a foreign jurisdiction should expect to be covered under UK jurisdiction. None of us has any legal claim against the FSCS for the first €20,887 of our Icesave money.

Said it before, and I say it again, I for one am very, very greatful that the UK authorities have taken on my claim on my behalf. They are the only ones who stand a reasonable chance to recover my money. If it takes them a few weeks to sort out how things can be done, so be it. Still a darned side better than the years it would have taken me to probably get nothing back.

Suppose the same really goes for basically all the UK icesavers - though if anyone knows any different, I'd be very interested ;-)

I seem to remember that Mr Darling said that "as far as i can see, there isnt any money in the Icelandic scheme". That says to me that from that point on, he's fronting all of the money, regardless of what we signed up to. He knew they were skint the day after Icesave went pop. If he didnt intend to stump up there and then, he was using the moment for political gain.
Its one or the other.
Like i said earlier, we finished paying off our war debt to the US 18 months ago.
Iceland will just have to let us fish their cod. Seriously.

qamwc1

Parliament has not yet approved the freezing order - see

http://www.publications.parliament.uk/pa/cm/cmsilist/cmsilist.htm

The order is listed under Section B Part III (ii).

Also look at

http://www.parliament.uk/documents/upload/L07.pdf

for the procedures followed by Parliament. The last time an order requiring Parliament to give affirmative approval being rejected was in 1969!

Dan_66

Hey, it's Friday. Anyone checked the FSCS website yet??:rotfl:

T'Pau

Dan_66 wrote: »

Hey, it's Friday. Anyone checked the FSCS website yet??:rotfl:

Yeah. At 00.01 and four times since. No change. :rotfl:

bulltraderpt

Celt08 wrote: »

I was only asking! no need to be so arrogant about it

No, there wasn't was there.

I, like others on here, would like our cash back sooner rather than later.

My only beef with the government over this is they should NOT bail people out who invested more in IceSave than would be covered by both the schemes in place at the time.

If the tax payer ends up paying cash to these people it makes a mockery of having limits in the first place.

Rules without consequences is not how we as people learn.

dancingdandare

No, there wasn't was there.

I, like others on here, would like our cash back sooner rather than later.

My only beef with the government over this is they should NOT bail people out who invested more in IceSave than would be covered by both the schemes in place at the time.

If the tax payer ends up paying cash to these people it makes a mockery of having limits in the first place.

Rules without consequences is not how we as people learn.

I agree.......the government should only pay back up to the 50k mark, anymore is going to cause problems. I also have money in ice save, although i was fully aware of the protection limits and so have spread my saving over different institutes. People who have ignored or failed to read the small print should have to learn a hard lesson. Always read the T&C's. There are plenty of banks to put your money in nowadays so don't just do the easy thing and stick it in one account. NEVER put all your eggs in the same basket.

Back onto the pending ice save mess. I hope we all get some news soon, as i don't believe in the saying 'no news is good news'.

LesU

If Iceland hasn't got the funds to do the refund as promised,what happened to the agreement between Scandinavian governments to help out? I thought that was part of that passport deal and it was one of the reasons why I wasn't so concerned with putting money into Icesave.

LesU

dancingdandare wrote: »

There are plenty of banks to put your money in nowadays so don't just do the easy thing and stick it in one account. NEVER put all your eggs in the same basket.

It all depends on what you consider to be the basket. At the moment we are all concentrating on Iceland. In the future, do we avoid using banks from the same country, or do we now not save in banks owned abroad at all? Do we avoid banks all with the same owner, even if they have separate licenses? You certainly have to be careful of banks sharing the same licence.

If you want to spread, say £100,000 in £20,000 chunks it's becoming very difficult. I will now not commit more than £20K to any one bank in case it gets into difficulties, because, even if I get my money back, it could take many months.

I'm sure that if I put some money into Cahoot, B&B, A&L and the Abbey and the Santander bank goes under, there would be someone out there saying that I put all my eggs into one basket using banks owned by a foreign company, so hard luck if 80k of your money is frozen for 3 months.

st

I have e-mailed Darling last week no reply or acknowledgment so send another one yesterday to him

[EMAIL="darlinga@parliament.uk"]darlinga@parliament.uk[/EMAIL]


why not us icesavers today send all send reminder e-mails to AD requesting inofmration and an update to when we wre going to get our money.
Ok maybe he does not see all the e-mails but someone does and another mass e-mail to FSCS that lady Minghella ,it can do no harm