NI Presbyterian mutual society, Short of funds for withdrawal?

goodbyepci

loganjh

very interesting link

http://www.bbc.co.uk/blogs/ni/2009/0...rch_house.html

William Crawley is writing again, about silence from Church House!
Interesting points made by some contributors to the blog.



What on earth does he mean by needing great physical courage.

Gulp!

What on earth has been going on!!!

Noz

Apologies if I'm repeating what has been already mentioned, Sir Reg Empey discussed the PMS on the Nolan Show this morning and what actions the Executive plan to take in the near future.

For anyone interested the show will be able to be relistened to at BBC iPlayer (http://www.bbc.co.uk/iplayer/search/?q=nolan) once today's episode has been added.

crazymess

For those who want to petition Government - re Mutuals to be included in the Guarantee for savings
Petition - http://petitions.number10.gov.uk/save-the-mutuals/

Groovy_jon - have you done ours yet??

Bannside_2

Hi, I just wanted to add my tuppence worth. My parents and brother all have substantial amounts of money tied up in this fund. They too feel somewhat helpless and as they don't have internet access they feel isolated too. They are depending on what they read in the paper and the few letters they receive. Any information is greatly appreciated and any I will happily sign any relevant petitions on their behalf. Thanks.

crazymess

Keen to get it up and running


Ours will be a separate issue - but you can see that a further 10 people have signed up to the Government Petition in just minutes.

expat68

Has anyone had any direct contact with the administrator. Is there any way we can get a confirmation from him that the directors acted fully in accordance with their statutory duties and in accordance with the written laws/ constitution of the society. I'm thinking if they lent to non presbyterians this is a breach of duty and rules and they should be held accountable. The names of the directors should be publicly available so maybe the press could invite them to explain the situation to the investors via an interview - the newsletter seems to be sympathetic to the cause.

purt

From BBC News:


The employment minister has said 20,000 jobs could be lost in Northern Ireland over the course of 2009.

Sir Reg Empey said that governments across Europe have been underestimating the impact the credit crunch is having so far.

He says he expects the number of unemployed to reach as many as 50,000 by 2010.

"Last year, we were were in low twenty thousands in terms of unemployment, I think that could double," said Sir Reg.

The UUP leader also said that he and the first and deputy first ministers are seeking a meeting with the Prime Minister to press him to think again about providing support for those who have lost savings in the Presbyterian Mutual society.

Sir Reg pointed out that money belonging to other savers, even in offshore institutions, had been guaranteed and said the Executive was appealing to Gordon Brown's "sense of compassion".

loganjh

expat68 wrote: »

Has anyone had any direct contact with the administrator. Is there any way we can get a confirmation from him that the directors acted fully in accordance with their statutory duties and in accordance with the written laws/ constitution of the society. I'm thinking if they lent to non presbyterians this is a breach of duty and rules and they should be held accountable. The names of the directors should be publicly available so maybe the press could invite them to explain the situation to the investors via an interview - the newsletter seems to be sympathetic to the cause.

Excellent idea although the administrator is probably unlikely to want to 'rock the boat'. This is more liklely if a liquidator is appointed. Directors names are available from annual returns. The question is have any of them resigned recently?

loganjh

culchied wrote: »

From BBC News:


...... Sir Reg pointed out that money belonging to other savers, even in offshore institutions, had been guaranteed and said the Executive was appealing to Gordon Brown's "sense of compassion".

Sadly, when we are appealing to GB's sense of compassion, we are in trouble. Unless there are votes in it he isn't interested, c.f. Northern Rock and lots of labour seats in the North-East of England.
I appreciate he is a son of the manse but it isn't obvious.
speaking of another son of the manse, Liam Clarke seems well up to speed on the issues (Times ? Sunday Times) and would be a good man for this situation as an investigative journalist with excellent local knowledge

warmhands.coldheart

In the Petitions "Terms & Conditions"

Please note that to keep the system manageable, and justify use of resources, we can usually only respond to serious petitions of 200 signatures or more

Currently on 39.. bit of a way to go yet... Please spread the word