Quote:
Originally Posted by Gate Keeper
In 2007, we got caught out in the financial crash when our Icelandic bank on the Isle of Man was frozen by the Labour government and then the bank went into administration.
What we did was to set up a web site, a closed group. In it we offered peer support to each other. We had a blog for people to post stuff up and for our own administrators to post up progress reports, advise about problems/issues. Some people lost more than we did, they lost their life savings!
In the group was a lawyer and others who had the skills needed. We got everyone on board to pursue our case and to keep us updated via the blog on our website.
It went to court on the IOM and we won. Everyone in the group got their money back in block amounts: their savings and investments with interest. It took us 10 years!....It was a long haul. The management of the bank was investigated by the police in Iceland and some of them ended up in prison.
What I am saying is this ...."Where there is a will, there is a way".
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I thought Kaupthing Singer & Friedlander depositors compensation was limited to £10000 Phil?
It's for this reason I tend to spread my savings over a few different UK banks, that way, if any go into administration then you are covered by the deposit guarantee scheme for up to £85000.
Anyway, I suspect there will be a lot of broken trails involved the chase of this particular shyster, but hopefully he will get his just desserts, and the people he fleeced, their money back
Brian
