THE M.E.N. has launched a campaign to help Manchester's world-famous Christie Hospital get back the £6.5m of charity cash it lost in the Icelandic banking collapse. Take part in our online petition here .

The hospital's attempt to reclaim the money through the Financial Services Compensation Scheme has been rejected and managers have pledged to take legal action to recoup the cash - most of it donated by patients and their families.

Now the M.E.N. has stepped in to back The Christie. We are calling on politicians, fundraisers and celebrities to back the Cash Back for Christie campaign. And we are asking you to sign our petition calling on Gordon Brown to step in and force the FSCS to change its decision.

Labour and Liberal Democrat groups have already pledged to raise the issue in the commons and the decision by the FSCS has been slammed as ‘heartless’.

Immigration minister Phil Woolas, MP for Oldham East and Saddleworth, called for common sense to prevail.

He said: “I will be making representations to the FSCS in light of their decision and I’ll be calling for common sense.

“The Christie Centre at the Royal Oldham Hospital is essential. We have the highest rate of cancer in the country in my constituency and we don’t want this decision to stop our fight against it.”

The money was lost when the Icelandic bank Kaupthing Singer and Friedlander (KSF) collapsed.

The bank held the highest possible safety rating and offered the best interest rates when The Christie was advised to invest.

Now hospital managers are planning a legal bid to overturn the decision by the FSCS – part of the Financial Services Authority. It is understood the hospital, in Withington, has been advised it has a strong case.

The lost cash was earmarked to pay for two new satellite radiotherapy centres in Salford and Oldham.

Bosses have managed to fund these schemes but say they will now be unable to pay for planned cancer research projects, including one with Manchester University.

Hospital bosses are also trying to recover a further £1m of public funding through the bank’s administrators.

Take part in our online petition here .

Lib Dem John Leech, MP for Withington, said: “I am appalled by the decision. of the FSCS to reject The Christie’s claim.

"This is money that has been raised by the public to help the hospital in its efforts to fight cancer, and it has been lost through no fault of the hospital whose bosses were acting on the best possible advice at the time of its investment.

“I have spoken to hospital bosses and will be fully supporting them in their attempts to secure a judicial review of the case.

“The Christie is a world leader in cancer care and the FSCS heartless decision must be reversed.”

Manchester Central MP Tony Lloyd added: “Everybody around Manchester knows how important The Christie hospital is to the area. Many of us know people whose lives have been saved there.

“The Christie Hospital will likely have received a large proportion of this money through the generosity of ordinary people, who have a right to expect that their donation be spent on the noble work of the charity.

“I have personally written to the Financial Services Authority as well as the Chancellor of the Exchequer asking that this money be given back.”

Shadow Health Minister Mike Penning said: “This is a bitter blow to the hospital and means that unless the Financial Services Authority changes its position, we are facing less money for cancer care at one of the world’s leading hospitals.”

Caroline Shaw, chief executive of The Christie, said she was disappointed by the decision but added: “We must now move on to the next stage which is a judicial review aimed at overturning the decision and getting our money returned.”

A spokeswoman for the FSCS said: “The FSCS protects individuals and some small companies but we must follow the rules set for us.

“Our decision does not reflect a judgement about the importance of the work done by The Christie but it had to comply with rules set down by charity. The decision to reject the claim was upheld by the rules set for us by the Financial Services Authority."

Other organisations in Greater Manchester who invested in the failed Icelandic banks were affected by the Icelandic banking collapse. They are pursuing their claim through the administrators of the failed banks and have not yet found out whether they have succeeded.

They include Manchester Metropolitan University and Manchester University which invested £10m and £5m in the Heritable Bank; Bolton council which is trying to recover £6m from Landsbanki Group; and the Museum of Science and Industry which had £900,000 tied up in KSF.

Take part in our online petition here .