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Petition for government to save charities' Icelandic savings

Fundraising | Celina Ribeiro | 12 Jan 2009

More than 7,000 people have signed a petition asking the prime minister to help several charities recoup £40m deposited in a failed Icelandic bank.

Winchester-based children's hospice Naomi House, which had £5.7m reserves in Kaupthing Singer and Friedlander (KSF), and Cats Protection, which had £11m in the bank, are leading the 27-strong group behind the action.

Given that the bank remains in administration, the future of the charities' deposits remain uncertain. In order to present a united front and lobby the government for assurances that their savings will be returned in full, the charities grouped themselves into a coalition - ‘Save Our Savings' (SOS) - and have created the petition.

Tina Lillington, spokeswoman for Naomi House, said the charity has corralled all individuals and organisations - including suppliers - with an interest in the hospice to support the petition, which they aim to get into the top 25 petitions on the Downing Street petition website.

Naomi House has already had to cut services as a result of the loss of its money in KSF. Its hospice-at-home service, where carers go to the homes of families with terminally ill children in emergency situations, has been suspended and will not be resumed until the charity has had its money returned from Iceland.

"We are concerned, but it's business as usual at the hospice," said Lillington. "It's our job to be positive and help families through difficult times in their life."

Meanwhile, the SOS coalition has secured one of five seats available on the KSF creditors committee. The other four places are occupied by the Financial Services Compensation Scheme (FSCS), Transport for London, the trustees of the KSF Ltd Pension Fund, and Peterborough City Council.

The petition will be automatically submitted to government after it closes on 12 January. No concrete plans about action after that date have yet been made. Changes in the law have prompted the Institute of Fundraising to revise four separate codes of fundraising practice. Codes on telephone fundraising, data protection and the management of static collection boxes are among those subject to minor changes.

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Who's Who: Celina Ribeiro