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NI Presbyterian mutual society, Short of funds for withdrawal?
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Petitions are very important
Either on line or/
Forms can be printed off from the following web site:
PETITION TO THE PRIME MINSTER CONCERNING THE PRESBYTERIAN MUTUAL SOCIETY:
CHANGE THE DATE TO 20TH MAY 2009
GET THESE FORM FILLED UP BY ALL PEOPLE OF GOOD WILL AND DELIVERED TO CHURCH HOUSE BY 20TH MAY0 -
jon_groovy wrote: »I've been out of the country for a few days, have i missed anything ?
Did you hear the interview with Mark Orr on Sunday Sequence last Sunday 15th Feb?
:cool:"Our Society is one of the great successes of our Church"
Rev. Sidlow McFarland - Chairman's Report - PMS Annual Report and Accounts 20070 -
Thought for today!!!
Assuming info is correct - if we get 5% of our savings end of the summer - one year on from the time our money was frozen - how long to recoup our total 100%????? or 80% ????0 -
The latest info going around Presbyterian circles is that a very large famous Northern Irish developer recently bankrupt had a £30,000,000 loan from the PMS.If it is true sounds like somebody somewhere overstepped the rules! 0 -
fisherman11 wrote: » The latest info going around Presbyterian circles is that a very large famous Northern Irish developer recently bankrupt had a £30,000,000 loan from the PMS.If it is true sounds like somebody somewhere overstepped the rules!
Mark Orr said that the PMS had a strict lending policy of lending on 75% of value.
So we must be talking about land or property once valued at £40 million?
(According to Mark Orr's own words)
I wonder what it is worth now?
I noticed he said that most of the security was held in "land"
:cool:"Our Society is one of the great successes of our Church"
Rev. Sidlow McFarland - Chairman's Report - PMS Annual Report and Accounts 20070 -
Fisherman
This news is very distressing about this Property Developer.
I hope its not true, I feel like phoning and asking.
Would not be told!!!!! I guess0 -
jon_groovy wrote: »is he presbyterian ?
Is it a coincidence that Taggart Holdings went bust at same time as money began to fly out of PMU. Did people in know realize that their downfall would crash the PMU and deserted the 'sinking ship'. Who would have okayed that size of loan if this is true and i don't recall them being Presbyterian. I have just been trying to work things out, might not be on right path !WEARY AND DISHEARTENED_pale_0 -
jon_groovy wrote: »I've been out of the country for a few days, have i missed anything ?
Wondered why you were so quiet!
:wave:0 -
21st october 2008goodbyepci wrote: »Mark Orr, did not address the issue of development land in his interview.
He explained away the buy to lets as "retirement homes" and "holiday homes" and said " we had very limited commercial activity in the buy to let"
What exactly does that mean?
Does anyone know when the property developer went bankrupt?
If PMS were so exposed to one borrower, and the timing was last Sept/Oct, it would be a far more plausible explanation of the "run" if those in the know tipped off their family/friends that PMS was heading for collapse because a property developer owing £30 million had gone bust!
Far more plausible than the "It's all Gordon Brown's fault" spin which PMS and PCI are so anxious for us to swallow.
Hmmmmmmmmmmmmmm
The plot thickens
:cool:WEARY AND DISHEARTENED_pale_0 -
WEARY AND DISHEARTENED_pale_0
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