Last updated: March 2009
Note added: KSFIOM was placed in liquidation in May 2009.
See also Banking Crisis Review Report
What's the issue?
On 9 October 2008, Kaupthing Singer & Friedlander Isle of Man (KSFIOM) was placed into provisional liquidation/administration due to the failure of its sister bank in London, Kaupthing Singer & Friedlander UK (KFSUK). Thousands of British citizens stand to lose their life savings if a solution is not found.
The DAG nominees to the KSFIOM Creditors' Committee ("CC") have recently concluded the negotiations with PwC on the form of confidentiality undertaking ("CU") relating to the disclosures to be made to the CC, and the form of this CU is being uploaded to the site for your reference.
Tuesday 4 August 2009
Sealeduksecrets - epetition response
We received a petition asking:
“We the undersigned petition the Prime Minister to open and reveal court papers for UK Savers & Tax payers to view.”
Details of Petition:
Joint Deemed Official Receivers’ and Joint Liquidators’ report for the period from 9 October 2008 to 15 July 2009 (Taken from Bank website)
Please find attached the above named report.
We would like to draw attention to the following paragraphs:-