bellyup Posted December 3, 2010 Share Posted December 3, 2010 it was certainly kept very quiet. No it wasn't, not even slightly. and how would knowing about SIB have influenced your decision to stash your cash offshore? What parallels are there between the SIB and KSF cases? I deposited my legally and hard earned savings in the Derbyshire Bilding Society IOM. Had i know that it is the custom of the IOM to brush bank failures under the carpet and revile depositors i wouldn't have and nor would thousands of other innocent depositors. However you are doing a good job to ensure that any would be depositors will hastily take their business elsewhere. Link to comment Share on other sites More sharing options...
Gladys Posted December 4, 2010 Share Posted December 4, 2010 SIB was definitely not hushed up or swept under the carpet. The fact you were unaware says more about your own research than the IOM. Link to comment Share on other sites More sharing options...
Evil Goblin Posted December 4, 2010 Share Posted December 4, 2010 To be fair to Bellyache, which of us would have bothered with a prior history of IoM banking crises if we were placing a deposit with the IoM subsidiary/branch of a UK Building Society? Even if he had done the research I doubt he would have considered the SIB events to be applicable to the Derbyshire - why should he? The problem seems to have arisen when the Derbyshire IoM business was sold to KSF and anyone with reservations on the latter found themselves locked in. If there was a regulatory failure that, I suggest, was it. Link to comment Share on other sites More sharing options...
Gladys Posted December 5, 2010 Share Posted December 5, 2010 No, my point was in response to Bellyup's comment that SIB was swept under the carpet; it painfully wasn't and the fact that they were not aware of it was because they had failed to research the point, (whether it was relevant or not) not that it was hidden. Link to comment Share on other sites More sharing options...
bellyup Posted December 5, 2010 Share Posted December 5, 2010 No, my point was in response to Bellyup's comment that SIB was swept under the carpet; it painfully wasn't and the fact that they were not aware of it was because they had failed to research the point, (whether it was relevant or not) not that it was hidden. So maybe you should put a warning on all IOM banks. ThinK very carefully before you deposit your money here in the IOM bear in mind we have had two banks go down already. Link to comment Share on other sites More sharing options...
bellyup Posted December 5, 2010 Share Posted December 5, 2010 You might like to read what Mr John Aspden says about it he is giving evidence at the Tynwalds Select Comittee meeting this week. It might help any future depositors to decide / research. http://www.tynwald.org.im/papers/early/committee/eptksf02122010.pdf Link to comment Share on other sites More sharing options...
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