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Kaupthing Singer Friedlander Isle of Man Collapse

Kaupthing Singer Friedlander Isle of Man Collapse

Old Oct 10th 2008, 9:55 am
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Default Kaupthing Singer Friedlander Isle of Man Collapse

Anybody affected by KSF Isle of Man bank collapse?

http://www.ksfiomdepositors.com/cms/
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Old Oct 11th 2008, 11:02 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

never heard anything about it at all
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Old Oct 11th 2008, 12:47 pm
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Your'e not affected are you? I think (*hope*) i wont have lost anything if the IoM government move to guarentee upto 50k (currently its only 75% upto £20k) but i may need to wait many years to get my money back.

At worst i lost a few grand which is crap but that is nothing compared to many there who have potentially lost over £100k
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Old Oct 12th 2008, 7:08 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

I'm not a big depositor, but there are a few hints in all the traffic that an IMF rescue package for Iceland will include compensation for KSFIoM depositors.
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Old Oct 12th 2008, 8:18 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

And if you have offshore savings in the Channel Islands....

http://www.moneywise.co.uk/news-view...tection-scheme

... there's bugger all in the way of guarantees.

I have, and I'm worried. Sensible suggestions anyone?
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Old Oct 12th 2008, 9:04 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by NedKelly63 View Post
And if you have offshore savings in the Channel Islands....

http://www.moneywise.co.uk/news-view...tection-scheme

... there's bugger all in the way of guarantees.

I have, and I'm worried. Sensible suggestions anyone?
Which bank are you with in the CI?

The big ones will be OK.

And as I posted elsewhere - people may have exposure to the CI even without realising it - for example, HSBC Middle East is Jersey-registered.......
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Old Oct 12th 2008, 9:22 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

I'm with RBS - not quite the financial powerhouse that HSBC is.

I've just come off the phone to my Bank Manager who, unsurprisingly, can't promise anything.

I'm half tempted to squirt funds back to the UK and risk paying some tax on it, rather than losing the lot.

RBS going down the tubes - highly unlikely I know, but still within the realms of possibility.
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Old Oct 12th 2008, 9:33 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by NedKelly63 View Post
I'm with RBS - not quite the financial powerhouse that HSBC is.

I've just come off the phone to my Bank Manager who, unsurprisingly, can't promise anything.

I'm half tempted to squirt funds back to the UK and risk paying some tax on it, rather than losing the lot.

RBS going down the tubes - highly unlikely I know, but still within the realms of possibility.
They'll be fine..........
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Old Oct 12th 2008, 9:43 am
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by The Dean View Post
They'll be fine..........
Promise?
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Old Oct 12th 2008, 12:15 pm
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by MacBiggles View Post
but there are a few hints in all the traffic that an IMF rescue package for Iceland
I thought Russia was bailing out Iceland?
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Old Oct 12th 2008, 12:31 pm
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by IndieG View Post
I thought Russia was bailing out Iceland?
They'll take it where they can get it. I know some people like that too
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Old Oct 12th 2008, 3:07 pm
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by NedKelly63 View Post
And if you have offshore savings in the Channel Islands....

http://www.moneywise.co.uk/news-view...tection-scheme

... there's bugger all in the way of guarantees.

I have, and I'm worried. Sensible suggestions anyone?
Isle of Man based insurance bonds etc...upto 90% of your investment back from the IOM under the Policy Holder's Protection Act should the company go under...and most IOM insurers are well over 100 years old and have seen far worse that what is going on now.

Downside: not as easy to get at as a bank account, but better returns in the long term (more than 5 years).

N.
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Old Oct 12th 2008, 3:14 pm
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Default Re: Kaupthing Singer Friedlander Isle of Man Collapse

Originally Posted by IndieG View Post
I thought Russia was bailing out Iceland?
Either that or they'll send troops in...
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