Icelandic Banks - The thread for OFFSHORE savers

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  • Andrew64
    Andrew64 Posts: 425 Forumite
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    This is not good:

    Landsbanki Guernsey savers may lose everything


    http://www.timesonline.co.uk/tol/money/savings/article4914674.ece
  • stanley317
    stanley317 Posts: 17 Forumite
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    occamsrazor wrote: »
    It may be worth now printing out any transaction details of transfers to your KSF accounts from your other banks though, just in case.

    Good point. This is where that nominated account rule could come in very useful as I can prove every transfer in and out.

    You've been anything but smug throughout the history of this thread, in fact I think you are doing a great job as moderator. Like you said we're all in this together and most of us just need a sympathetic ear.
  • richiyeh
    richiyeh Posts: 4 Newbie
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    I guess the logic is that the UK end would have UK assets - not so with the IOM.
    The IOM end would indeed have a call on its assets - good luck with retrieving them from Iceland, which will reap the fruits of its default for years to come.
    By the way, I hope I'm wrong and you're right.
  • occamsrazor
    occamsrazor Posts: 232 Forumite
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    Some more places to write to:

    Official:

    UK Treasury Ministers -     [EMAIL="ministers@hm-treasury.gsi.gov.uk"]ministers@hm-treasury.gsi.gov.uk[/EMAIL]
    UK Treasury Public enquiries - [EMAIL="public.enquiries@hm-treasury.gsi.gov.uk"]public.enquiries@hm-treasury.gsi.gov.uk[/EMAIL]
    Isle of Man Financial Supervision Commission - [EMAIL="fsc@gov.im"]fsc@gov.im[/EMAIL]
    KSF(IoM) Liquidator Michael Simpson of PricewaterhouseCoopers in the Isle of Man:
    http://www.pwc.com/extweb/newcowebpo...&CH=&CSS=OCEAN


    Media:

     SKY News - [EMAIL="news@sky.com"]news@sky.com[/EMAIL]
    Channel 4 News - [EMAIL="news@channel4.com"]news@channel4.com[/EMAIL]
     BBC Working Lunch - [EMAIL="working.lunch@bbc.co.uk"]working.lunch@bbc.co.uk[/EMAIL]
    ITN - [EMAIL="news@itn.co.uk"]news@itn.co.uk[/EMAIL]
    Press Association - http://www.pressassociation.co.uk/contact.php
    Times Online newsdesk - [EMAIL="news@timesonline.co.uk"]news@timesonline.co.uk[/EMAIL]
    Times "Your Money" - [EMAIL="weekend.money@thetimes.co.uk"]weekend.money@thetimes.co.uk[/EMAIL]
    Times Business - [EMAIL="business@thetimes.co.uk"]business@thetimes.co.uk[/EMAIL]
    Telegraph Editorial - [EMAIL="telegrapheditorial@telegraph.co.uk"]telegrapheditorial@telegraph.co.uk[/EMAIL]
    Guardian Money - [EMAIL="money@guardian.co.uk"]money@guardian.co.uk[/EMAIL]
    Guardian Weekly (Expat) editor - [EMAIL="anna.bruce-lockhart@guardian.co.uk"]anna.bruce-lockhart@guardian.co.uk[/EMAIL]
    Daily Mail "This is Money" - [EMAIL="editor@thisismoney.co.uk"]editor@thisismoney.co.uk[/EMAIL]
  • expatfrance
    expatfrance Posts: 14 Forumite
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    With regard to whether the new compensation rules will be applied retrospectively, surely it is not retrospective as although KS&F is in liquidation the compensation scheme has not yet been activated.
  • Knife_Edge
    Knife_Edge Posts: 18 Forumite
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    richiyeh wrote: »
    I guess the logic is that the UK end would have UK assets - not so with the IOM.
    The IOM end would indeed have a call on its assets - good luck with retrieving them from Iceland, which will reap the fruits of its default for years to come.
    By the way, I hope I'm wrong and you're right.

    richiyeh, I'm not saying you're wrong - I absolutely agree that a call on Iceland isn't worth much (if anything) - but a call on ING-owned KSF(UK) probably is worth something, and a call on Iceland may mean it escalates into an intergovernmental matter that involves the UK government.

    The assets we're talking about are loans out of the 2 operations, and a loan by IOM to a bad borrower looks much like a loan out of the UK to a bad borrower.

    Although the Times article linked above doesn't hold out much hope of that happening...
  • expatfrance
    expatfrance Posts: 14 Forumite
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    Suggest that anyone who still has deposits at other IOM banks or knows anyone else who has write to the Cheif Minister that they will be withdrawn if the situation is not resolved satisfactorily
  • occamsrazor
    occamsrazor Posts: 232 Forumite
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    expatfrance wrote: »
    Suggest that anyone who still has deposits at other IOM banks or knows anyone else who has write to the Cheif Minister that they will be withdrawn if the situation is not resolved satisfactorily

    I would write to the Isle of Man Financial Supervision Commission - [EMAIL="fsc@gov.im"]fsc@gov.im[/EMAIL]
  • liebena
    liebena Posts: 4 Newbie
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    Hi. Occamsrazor, I have been following this forum silently for the last two days, and want to express sincere thanks for your valuable input. We have put my parents life savings in what was previously derbyshire, now Kaupthing. yesterday we attempted a telephonic transfer of all their money to my account in the UK. They are irish, living in africa. it is an absolute disaster for us. I dont want to add to everyones miserable stories, but have two questions - any suggestions of anyone I can contact in ireland for support (or is there anyone else here who is Irish), and secondly, any updates on the meeting at 4pm in IoM.
  • occamsrazor
    occamsrazor Posts: 232 Forumite
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    liebena wrote: »
    and secondly, any updates on the meeting at 4pm in IoM.

    Manx radio reporting...

    http://www.manxradio.com/readNEwsItem.aspx?id=26630

    Radio report (audio) here:

    http://www.manxradio.com/oNews/uploaded/audio/vcr-maz.wma

    no real developments though....
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