Landsbanki Channel Islands update 25/11/08

The GFSC seem to have gone stoney silent on this matter

Another example of why this regualtor should be made accountable for their shocking administration and regulatory failings.

Landsbanki LIES LIES LIES AND MORE FROM THE MANAGING DIRECTOR

http://www.iwantmymoneylandsbanki.com/


GFSC What action will you be taking against the company director for his blatant lies and misinformation ?

http://www.iwantmymoneylandsbanki.com/relevant_authorities.htm


few helpful telephone numbers to those that may want to call in the evenings if they're too busy in the day or in a different time zone:
Chief Minister Lyndon Trott home telephone number: +44 1481 713562
Peter Harwood home telephone number: +44 1481 723143
Jim Gilligan home telephone number: +44 1481 238593
Steve Le Poidevin (Managing Director of Landsbanki Guernsey): mobile 07781 408733 and home +44 1481 253155
Lyndon Trott - Chief Minister of Guernsey - lyndon@lyndontrott.com



Peter Harwood LLB

Chairman

Guernsey Financial Services Commission

PO Box 128

La Plaiderie Chambers, La Plaiderie

St Peter Port, Guernsey

Channel Islands, GY1 3HQ



Jim Gilligan

Chairman

Association of Guernsey Banks

c/o Kleinwort Benson (CI) Ltd

P.O. Box 44

St Peter Port

Guernsey

Channel Islands

GY1 BG


GFSC AND THE STATES OF GUERNSY HOLD YOUR HEAD IN SHAME

http://www.iwantmymoneylandsbanki.com/Testimonials.htm

Thank you Chok dee ja for all the links , this is truly disturbing i hope the States do something about it very soon . Re Trott's number thats fine but the guy is swanning arount China at the mo wasting tax payers money.

And the tales of woe continue

http://www.housepricecrash.co.uk/forum/lofiversion/index.php/t90698.html

no definitive answers from the boys on the phone in this morning either.guess they are waiting to be told what to say next

More lies and deception from Guernsey banks

Sent: Friday, 3 October, 2008 10:29:55

Dear Mr XXXXX


I can confirm that we have received the £1000 into your account. This entry was posted to your account on the 30th September with value the 24th September. A transaction advice is being sent to you in the post.


With regards to your second question, I can confirm that Landsbanki Guernsey is not experiencing any difficulties at this moment in time, and you will be able to withdraw your money from the fixed rate bond on maturity and the from the international 45 day after the relevant notice period free of penalty.


I would also like to point out that there is no Depositors Protection scheme in Guernsey but our Head Office have given an undertaking to discharge any liabilities that Landsbanki Guernsey have while it remains a subsidiary.


I trust this answers your questions satisfactorily


Regards


Customer Services

Accountants called in to administer the Icelandic bank Landsbanki Guernsey have said they hope to make a part payment to savers as soon as possible.

A number of people in Jersey and Guernsey have savings accounts with the bank.

Administrators from the accountancy firm Deloitte were called in after the bank went into administration when its parent company got into difficulties.

They said there were significant liquid assets available to the bank.

Landsbanki Guernsey is a subsidiary of Landsbanki Islands HF.

Share trading in Landsbanki was halted by the Icelandic goverment last Monday.

Deloitte's said the Guernsey branch's difficulties stem from the placing of funds with a UK subsidiary, Heritable Bank, which has also gone into administration.

(from BBC News)

Iceland is crippled with debt and giving UK depositors their funds may depend on the country securing emergency loans from other countries or the International Monetary Fund (IMF).

A £100m loan is being given by the
Bank of England to the UK arm of the collapsed Icelandic bank
Landsbanki to help repay the bank's UK creditors.
Savers with Icesave, the bank's internet operation, and any of its other UK depositors will benefit.
"This loan will help ensure an orderly wind-down of Landsbanki which
will maximise the return to UK creditors," said the Treasury.
Icesave closed last week, leaving its 300,000 UK savers without their cash.
The loan was announced in the Commons by Chancellor Alistair Darling on Monday afternoon.

Precisely how money will be channelled to those who need it is yet to
be made clear, and the Financial Services Compensation Scheme (FSCS) is
still drawing up a plan on how savers will be compensated for their
lost savings. Earlier in the day, the chancellor said that a plan to
assist business customers and savers with Landsbanki was close to being
finalised. He threatened to raise money from the bank's assets in
the UK which the government has seized to help those whose accounts
have been frozen for a week. The UK Treasury said all UK savers' money was
protected, even though the £100m loan would not cover the entire amount
needed to compensate savers.

The issue caused a diplomatic row between the two countries' governments.

Compensation

Icesave customers in the UK are set to receive compensation for their
lost savings, but part of this should come from the Icelandic
authorities because the bank is not registered in the UK. The first 20,000 euros of compensation should be
provided by the Icelandic compensation scheme, with the rest coming
from the UK's Financial Services Compensation Scheme. But there has been some debate about how the Icelandic
scheme will come up with this money, and how much business customers,
charities or local authorities that saved with Landsbanki will get. "Our authorities have set up an arrangement, agreed in
principle, for an accelerated payout to depositors," Mr Darling told
the Commons. "We are also working with the Icelandic authorities to
facilitate claims by UK charities and local authorities on their
deposits held at these Icelandic banks." The announcement came after the chancellor met the
Icelandic finance minister in Washington on Sunday afternoon and
pressed him for a swift resolution of the situation. Initially, any rescue in Iceland was expected to
concentrate on domestic customers first, prompting a strong reaction
from the UK government, which seized the Landsbanki assets in the UK.


I bet that does not cover Guernsey.

THE States deserves criticism over Landsbanki Guernsey’s collapse and should be prepared to apologise, a poll-topping deputy has claimed.

Matt Fallaize (pictured), who has spearheaded several campaigns since polling the most Vale votes in April’s general election, said Landsbanki Guernsey customers had every right to feel aggrieved and angry at the lack of protection for their savings.

He said the States had failed them. ‘As a people’s deputy, I do not hesitate to accept my share of what is perfectly justifiable criticism from the public,’ he said.

‘States members are elected to represent the interests of those who put us there. And every one of us is part of a government that has failed to act as promptly as our constituents have a right to expect. After years of consultation with the industry, it is simply not acceptable that Guernsey is still without a depositors’ protection scheme.

‘It is a failure of successive States. I have been in office only since May of this year. Nonetheless, this House has had enough time to put right the complacency of its predecessors on this issue and we have not done so quickly enough. For that, an apology is perfectly in order.’
(from thisisiguernsey)

Fair play to Matt and well said. Why can't more admit it when they are failing ,Ah i no no ba**s .

Will an apology be any comfort to anyone who has/might loose there life savings?

Can the Island afford a depositors protection?

An elderly lady receives an e-mail from the son of a deceased (but wealthy) African general, asking whether he could transfer millions of pounds into her bank account in return for a 20% cut. All the son needs is the sort code and account number. Not realising she is the victim of a Nigerian 419 fraud, she e-mails back the details. A couple of minutes later she receives an e-mail back from the general's son: 'A Guernsey bank?!' What is this, some sort of scam?"

An apology lol thats the best one yet,this is the same states of guernsey and gfsc who have been pumping out happy rhetoric stories for the last ten years claiming "we are the best regulated best trained and vast knowledge"

We want you to avoid paying tax to the countries you reside in and invest your money in our islands,we have record deposits,everyone loves us.

Btw we will not provide you with any protection LOL

Considering the gfsc has spent the last 8 years making companys comply with tedious mandatory pen pushing forms,maybe it would be a idea that every company now carries a states of guernsey health warning

WE DO NOT PROVIDE CUSTOMER PROTECTION IN THE EVENT OF A BANK GOING BANKRUPT

The UK Treasury has pledged to support Guernsey States in its dealings with the Icelandic Government over Landsbanki Guernsey.
The bank went into administration when its parent company, based in Iceland, got into difficulties.
Savers with the bank are waiting to hear what will happen to money they have deposited.
The announcement follows a meeting on Monday between States officials and treasury officials in London.

An awful lot of work has been going on behind the scenes Deputy Charles Parkinson, Treasury and Resources Minister

Charles Parkinson, States Treasury and Resources Minister, said: "This is a valued development and supports some of the many actions we have been taking.
"We have been accused of failing to act appropriately to this crisis but nothing could be further from the truth.
"An awful lot of work is going on behind the scenes."
The Guernsey Financial Services Commission has also written to the Icelandic regulators, who are currently controlling Landsbanki Guernsey's parent bank.
It is pressing for "parental commitments" to meet Landsbanki Guernsey's liabilities, to be honoured.
This would making sure depositors are not left short-changed.
No protection
Unlike the UK, Guernsey has no depositor protection scheme to guarantee savings if a bank collapses.
However accountants from the firm Deloitte, called in to administer Landsbanki Guernsey, have said there are significant liquid assets available to the bank.
Landsbanki Guernsey is a subsidiary of Landsbanki Islands HF.
Share trading in Landsbanki was halted by the Icelandic goverment on Monday 6 October.
Deloitte said the Guernsey branch's difficulties stemmed placing funds with a UK subsidiary, Heritable Bank, which has also gone into administration. (from BBC news)

Testimonials From Depositors