Museum lobbies for lost savings

MOSI had earmarked its lost savings for children's education

Bosses of a Manchester museum have lobbied MPs at the House of Commons to try to reap back £900,000 which was lost when an Icelandic bank failed.

The Museum of Science & Industry (MOSI) had earmarked savings it lost in the Kaupthing Singer & Friedlander (KSF) collapse for children's education.

Director Steve Davies said MOSI was lobbying for all non-profit groups, including Christies Hospital charity.

"Charities should not be treated differently to Northern Rock," he said.

Mr Davies added he and the management team canvassed support from the North West MPs after Manchester Central MP Tony Lloyd agreed to host a meeting.

Cash back

MOSI wanted to make sure that if the government makes the decision that charities will receive compensation for the collapse of KSF on 4 June that a full rebate would be offered.

"The administrators have implied that by June or July we may get something back but it could be several years before we get 50p in a pound," said Mr Davies.

"By lobbying MPs we're hoping that we will be able to get more than that, indeed, the full amount back."

MOSI said the money it lost was not part of the museum's core funds but would have been used in an educational initiative for up to 100,000 school children a year.

The cash would also have kick-started the redevelopment of the museum.

MOSI and Christies are both part of a consortium of 30 charities called Save our Savings (SOS).