But then, and quite oddly, more MPs from the reigning Labour Party signed the Early Day Motion than from the Conservative/Lib-dem parties.

The UK Government of 2008 wrecked the lives and families of fellow Brits on the 9th of October 2008 – we see no change in the sheer contempt the 2010 UK Government shows to these victims and those who depended on them. Disgusting.

In 2008, the UK Financial Services Authority – under Mr Hector Sants – advised the Isle of Man Kaupthing Singer and Freidlander bank to place over £500Million of its assets with its sister bank, Kaupthing Hf, in London. This advice was given despite the FSA knowing that Kaupthing Hf was in trouble.

On the 8th of October 2008, the UK Chancellor – Mr Alistair Darling – stated that the Icelandic chancellor had told him that no-one in the UK would be compensated if Kaupthing Hf (UK) failed. No record of this statement has ever been found, despite much searching under the Freedom Of Information Act. Based on this statement, Mr Darling forced Kaupthing Hf into liquidation – transferring UK personal deposits to the Dutch ING Direct bank. As the Isle of Man Kaupthing Singer and Freidlander bank had a major part of its assets in London bank and those assets were now frozen, it went into liquidation immediately.

The follow few months saw Alistair Darling instructing the Kaupthing Hf liquidators – using powers in the 2008 Banking Bill – to repay certain UK parties; these included Labour-friendly millionaires such as Dave Whelan and vote-winning charities. The cries of desperate British depositors whom his Government had forced offshore in the first place were ignored. Questions in Parliament were met with untruths from MPs such as Sarah McCarthy-Fry and Ian Pearson who said that it was not a matter for the UK and that these people chose to use offshore banks.

As the situation got progressively worse and individuals found themselves in increasing desperate situations the UK Government went into overdrive to cover up their involvement. To this day, court papers pivotal to what the UK Government did (and did not do) have remained secret on the orders of Alistair Darling. As the http://www.theukgovernment.com website shows, the UK Government’s culpability in this act of financial genocide against its own people has been total. Live have been destroyed and families irreparably broken due to the actions of Alistair Darling and subsequent cover up.

Presently it is estimated that the SoA would return 60p in the Pound. Depositors want all their money back, saying it was deposited on assured trust and not as an investment embodying risk.

Depositors say that the IOM should do what the UK Government has done to protect savings deposited in failing UK Banks. This is a fundamental principal of trust that must be the basis of all money deposited in a bank. If the Island can not do this then the foundation of its financial services industry is inherently insecure.

It is the submission of the Depositors' Action Group that if the IOM Government can not provide the resources to underwrite this trust, it should seek a loan from the UK Treasury in order to do so.

However, the IOM Government has committed itself to resolving the problem as best it can and its Scheme of Arrangement will be finalised in time for a Court hearing on 9 April. Depositors are demanding that it must contain a clause that makes it clear that their legal rights to pursue their demands through the courts are not compromised.

The Depositors' Action Group is now seeking the advice of legal councel to sue those who it considers to have failed to saveguard their deposits.

The plight of thousands of innocent depositors caught in the cross-fire when UK Government Treasury froze the assets of Kaupthing Singer & Friedland is being highlighted on the BBC R4 Website.

To view the moving comments that people have made on the subject visit :-

http://www.bbc.co.uk/blogs/ipm/2008/11/a_twist_in_the_expat_tale.shtml

Please pass this word on – lets get some momentum going here and get some justice from the UK Government.

Savers and private investors in KSF (Isle of Man) have not yet recovered any of their money from the bank and some are now experiencing real financial hardship and having to make changes to their lives. Attention is now focused on a further court hearing on the island on November 27th, following the postponement of the winding up of KSF (IOM) on October 24th.

As an alternative to liquidation, the reconstruction of the bank is apparently under consideration by the 'Liquidator Provisionally' PricewaterhouseCoopers and the IOM's Financial Supervision Commission. The Isle of Man Treasury also has a stake in the outcome of the hearing as it has reportedly put up £150M to help compensate savers and is concerned over the future credibility of the Isle of Man's banking sector upon which the island's economy partly depends.

At a Treasury Select Committee meeting on November 3rd, Alistair Darling, Mervyn King (Governor of the Bank of England), and Lord Turner of Ecchinswell (Chairman of the UK Financial Services Authority) were reminded of the plight of British depositors in failed offshore banks and were asked to comment. Mr Darling, whilst not ruling out direct UK involvement at some point in the future, made it clear that the Isle of Man is not part of the UK, describing it (to applause) as a "tax haven sitting in the middle of the Irish Sea."

Meanwhile, financial assistance for Iceland from the IMF currently seems to be on hold because of Icesave-related 'objections' from the British and Dutch Governments. As well as the IMF itself, a number of European countries have said they would offer loans to Iceland as part of a consortium that would include not only Britain and the Netherlands but other Scandinavian countries and Poland.

As I see it, Kaupthing Singer & Friedlander Isle of Man will in due course be liquidated, or run down, or reconstructed (whichever) resulting in creditors eventually receiving a significant proportion of what is owed to them. Probably liquidated. In other words the technical and legal processes will be allowed to run to their natural conclusions. By then, the IMF and consortium loans to Iceland will have begun to flow, a condition of which will be the compensation required to make good their remaining losses.

(1) Iceland's Prime Minister and Foreign Minister have reportedly stated that an IMF loan is "not nontingent upon settlement with Britain" and that the "Icelandic authorities do not intend to agree to obligations other than those for which they are required to honour according to law."

(2) Mr Brown and Mr Darling may face a massive claim over the Kaupthing collapse (this is perhaps why the British Government is saying nothing). The law firm involved is also considering whether it can act for KSF (Isle of Man) depositors, but…

(3) The former majority owner and chairman of Landsbanki has reportedly stated that the collapse of the Icelandic banking system was caused by the Central Bank of Iceland's rejection of a UK offer to accept Icesave under a British guarantee.

(4) Kaupthing Singer & Friedlander Capital Markets in the UK has reportedly been sold by the administrators to the executives and some 70-odd staff and is now Singer Capital Markets Limited. This follows the recently reported purchase of Kaupthing Singer & Friedlander Investment Management by Evolution Securities.

(5) Channel 4 News on TV in the UK has revealed that the British Government, the Bank of England, and the Financial Services Authority were aware of serious problems in the Icelandic banking system in March 2008 but chose to take no action

Of apparent relevance to this affair is a telephone conversation between the Icelandic Minister of Finance Árni M Mathiesen and the British Chancellor Alistair Darling on October 7th, 2008. A transcript has now been published.

Mr Darling apparently telephoned to try to establish the Icelandic Government's position on guarantees on four billion pounds worth of British deposits with Landsbanki, then already in administration. In response Mr Mathiesen referred to an insurance fund and how new legislation would help in 'solving the problem.' He referred to a letter from the Trade Ministry in Iceland which explained how the fund would work together with a pledge of support to it from the government.

The conversation is short and full of scope for misinterpretation. But Mr Mathiesen could not guarantee all deposits in Icelandic banks in the UK, and despite his assurance that: "We are certainly working to solve this issue. This is something we really don't want to have hanging over us," it was perhaps this simple fact that led to (i) the UK Treasury's 'Anti Terrorist' Landsbanki Freezing Order, then (ii) a run on Icelandic banks not subject to the Freezing Order causing a technical default on Kaupthing Singer & Friedlander UK, then (iii) the decision to put KSF UK into administration, then (iv) the UK Financial Services Authority's sale of Kaupthing Edge UK to Dutch ING, then (v), as is being alleged, the knock-on collapse of the entire Icelandic banking system – or something along those lines. A view is held in Iceland and elsewhere that were it not for the hasty actions of the British Government on or around October 8th, Kaupthing would still be up and running.

This is relevant in that it may provide the Kaupthing Isle of Man Depositors Action Group with its best case for British Government support, one way or another. Read why at "Who's to blame?" and "Icelanders are not terrorists".

[quote Kaupthing Isle of Man depositor]"We are just cross-fire victims caught in the middle of human error – that's cool, people make mistakes – we just want people to do the right thing now."[unquote]