{"id":30,"date":"2011-10-23T04:57:17","date_gmt":"2011-10-23T04:57:17","guid":{"rendered":"http:\/\/192.168.1.14\/?page_id=30"},"modified":"2020-06-16T10:40:31","modified_gmt":"2020-06-16T10:40:31","slug":"time-line","status":"publish","type":"page","link":"https:\/\/iombankfailure.com\/iombf\/time-line\/","title":{"rendered":"Time Line"},"content":{"rendered":"

October 2008 – Following the collapse of KSFUK<\/abbr> the IOM<\/abbr> FSC<\/abbr> withdraws the licence of KSFIOM<\/abbr> as it was no longer able to meet it’s obligations.<\/p>\n

January 2009 – Tynwald<\/abbr> approves an ‘early’ payment of up to \u00a31,000 to be made to depositors.February 2009 – Tynwald<\/abbr> approves another ‘early’ payment of up to \u00a310,000 to be made to depositors.<\/p>\n

April 2009 – Scheme of Arrangement (SOA). Proposed by IOM<\/abbr> Treasury, the liquidator was side tracked into developing it. Depositors have no say. No better return was offered than liquidation regarding percentage returned or timing of returns.<\/p>\n

May 2009 – SOA rejected by depositors. KSFIOM<\/abbr> finally put into liquidation.<\/p>\n

June 2009 – The DCS<\/abbr> is activated and depositors invited to claim compensation.<\/p>\n

August 2009 – Tynwald<\/abbr> Enquiry into the collapse of KSFIOM<\/abbr> and the Depositors Compensation Scheme begins.<\/p>\n

September 2009 – First payment to depositors who elect to receive their monies directly via the liquidation process.<\/p>\n

September 2009 – October 2009 – Payments to depositors who elect to receive their monies via the DCS<\/abbr>.<\/p>\n

April 2011 – Depositors Action Group Loan Trust proposed to IOMT<\/abbr> and UK Treasury.<\/p>\n

July 2011 – Enquiry presented to Tynwald<\/abbr>. Many recommendations rejected or watered down.<\/p>\n

July 2011 – Loan Trust Proposal rejected by IOMT<\/abbr>.<\/p>\n

March 2020 – Liquidation process finally ends.<\/p>\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

October 2008 – Following the collapse of KSFUK<\/abbr> the IOM<\/abbr> FSC<\/abbr> withdraws the licence of KSFIOM<\/abbr> as it was no longer able to meet it’s obligations. January 2009 – Tynwald<\/abbr> approves an ‘early’ payment of up to \u00a31,000 to be made to depositors.February 2009 – Tynwald<\/abbr> approves another ‘early’ payment of up to \u00a310,000 to […]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-30","page","type-page","status-publish","hentry","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/pages\/30","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/comments?post=30"}],"version-history":[{"count":5,"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/pages\/30\/revisions"}],"predecessor-version":[{"id":132,"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/pages\/30\/revisions\/132"}],"wp:attachment":[{"href":"https:\/\/iombankfailure.com\/iombf\/wp-json\/wp\/v2\/media?parent=30"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}