@Muermel: I seem to recall that the UK CAA published LASORS stated very clearly that a holder of an ICAO fight instructor license could convert to a JAR-FCL license through an abbreviated course of 15 hours - which was brilliant really and I am bummed I didn't take advantage of that opportunity back then.
What I don't understand is the fact that current EU regulations specifically state that one may convert and may be granted credits. How come a Competent Authority can simply deny this?