NI Presbyterian mutual society, Short of funds for withdrawal?

BelfastGran

Bbc2 Working Lunch Friday 20th February

non_member

fivealive wrote: »

DWS
i.e. Donald Watts Syndrome :eek:

I fear you are now seeing the start of a concerted effort to distance the PCI from its moral responsibility and protect the PMS directors from any suggestion of wrong doing........

A cynical calculated exercise being done knowing the clergy are unlikely to rock the boat,,,if they know what is good for them.

I feel for you all and can understand your feeling of frustration as one who has recently suffered serious financial losses in property speculation ... but at least my loss was down to my own lack of judgement.

sickasaparrot

Article on Sky News reporting MORE Government help for striken banks.


http://news.sky.com/skynews/Home/Politics/Banking-Act-2009-Comes-Into-Force-Allowing-Regulators-To-Step-In-Quickly-To-Rescue-Troubled-Banks/Article/200902315226930?lpos=Politics_First_Buisness_Article_Teaser_Region_0&lid=ARTICLE_15226930_Banking_Act_2009_Comes_Into_Force_Allowing_Regulators_To_Step_In_Quickly_To_Rescue_Troubled_Banks

john2009

mootercat wrote: »

First post but faithfully following the forum - is not Mark Orr himself a QC? see annual report 2008 where the Chairman Rev Sidlow McFarland said "it was a real pleasure when Mark Orr agreed to become Vice-Chairman.

He is a QC but he cannot advise the directors. They would need independent advice and given circumstances, I think they would approach a specialist in London.

crazymess

john2009 wrote: »

He is a QC but he cannot advise the directors. They would need independent advice and given circumstances, I think they would approach a specialist in London.

I HOPE WE AREN'T PAYING FOR THAT TOO!!!!

Nomad25

Just keeping this within easy view. Please post if you have any news from the churches today.

sickasaparrot

http://www.midulstermail.co.uk/news/Investors-request-meeting-over-Presbyterian.4895564.jp

Nomad25

It was after all the actions of the government which resulted, in this case, in discrimination of one section of the population -that section just happens to be Presbyterian.”

I truly despair. I loathe GB and his cohorts, but it is not HMG's fault. It would appear this reporter is promoting the same old pap.

goodbyepci

Missed this from yesterday's News Letter
http://www.newsletter.co.uk/news/Government-extends-PMS-petition-deadline.5003501.jp

ballyblack

thanks to goodbyepci for this


http://petitions.number10.gov.uk/Save-the-Mutuals/



Government extends PMS petition deadline



Published Date: 21 February 2009

THE UK Government has extended the deadline for names to be added to a petition calling on it to guarantee the funds of organisations similar to the Presbyterian Mutual Society (PMS).
Dr Thomas Stanley Callaghan created the petition on the website of Ten Downing Street and asked to have it extended for two or three months.

"They were as good as their word and it now runs until May 20," he said.

The Tayside cardiologist, who is an old boy of Limavady Grammar, was prompted to create the petition on behalf of his father, who has substantial savings in the PMS. The £300 million society suffered a run in October and is now being wound up.

The number of signatures on the petition calling for a guarantee for the deposits was in single figures until another shareholder in the society asked the News Letter to promote it. After that the number of names rocketed to the position where it now has over 5,700 signatures.

The petition was also picked up by the Presbyterian Church, with the moderator sending printed copies out to every minister for congregations to sign.

"Thanks to the efforts of the News Letter and the Moderator it has really taken off," said Dr Callaghan. "It is still attracting hits and until the Government says 'yes or no' I think it should continue."

The First and Deputy First Minister are still seeking a meeting with Gordon Brown to press the case for the deposit guarantee.

"The petition has really caught people's imagination but I am sure if I had not done it someone else would have," said Dr Callaghan. "I am guessing there are hundreds of mutuals that could be in the same position."

The petition calls for the Government to guarantee the funds in all mutuals across the UK.



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Last Updated: 21 February 2009 9:30 AM
Source: News Letter