Depositors were told that payments under the compensation scheme or liquidation would be made 4th. September. Allen Bell, Treasury Minister, has told the media that everything was on target for a rapid repayment under the scheme of all deposits up to £50k, with those up to £201,613 receiving £50k under the scheme. Now the scheme manager is complaining that he has been inundated with mail; his staff can't cope so there is going to be delay in getting payments to all claimants under the DCS. Guess what? yes! he blames depositors!
This is a total disgrace. The scheme manager has failed to provide the communication that was promised between himself & the depositors. He has a dedicated website but doesn't know how to use it. What direct communication there has been with depositors has been insensitive & often incomprehensible. The scheme manager seems to be totally blind to the terrible stress that he is creating. He might well have problems but he isn't suffering the terrible deprivation that the depositors have been enduring, & their desperate desire to get something of their money back after 11 months of sheer hell.
This incredible beurocratic shambles just reinforces the perception made in this blog back on 11 June that the Isle of Man continues to be scheming, deceitful, contemptuous & hypocritical.
If anyone had any doubts hitherto about the wisdom of depositing offshore here, the answer is clear: DONT BANK ON THE ISLE OF MAN as it could seriously damage your wealth and ruin your health at the same time.