NI Presbyterian mutual society, Short of funds for withdrawal?

Whatnow?_3

Great poll - get voting please.

Nomad25

Is PMS directly, on paper signed ect involved with the church? Unfortunately they have gone to great lengths to say they are not and legally sever any ties. Do/Did the church benefit in anyway whatsoever from the PMS? I believe they have.

Has anyone put a charging order on the PMS's Assets? If they have helped out property developers ect and these builders cannot afford to pay back....its up to the pms to put a charging order on their assets land, property ect, and maybe as savers/investors in pms you may be able to do the same!!
I do not think this has been raised before, would it not be the administrator's responsibility to do this on savers' behalf?

Hope this sort of answer your questions.

crazymess

Latest replies from the House of Commons - Conservatives


I am writing on behalf of David Cameron to thank you for your e-mail, regarding Presbyterian Mutual.

The collapse of the Presbyterian Mutual must be a great disappointment to the many people who invested in it and we can understand the uncertainty that investors face as they await the outcome of the administration.

As we understand it, the Presbyterian Mutual was registered and regulated by DETI under the Northern Ireland Industrial and Provident Societies Act. As has now become clear following an investigation by the Financial Services Authority, it was undertaking activities which meant that it should have been regulated by the FSA and not DETI. If it had been regulated by the FSA, then investors might have been able to take advantage of the Financial Services Compensation Scheme.

What is not clear is why it was allowed to operate for so long as an unregulated financial services business. If this had been identified earlier, then the problems facing investors might have been avoided. Mark Hoban, the Shadow Financial Secretary, called for an investigation into the regulation of the Presbyterian Mutual during a recent debate in the House of Commons, he said we need to look at “why neither the Department of Enterprise, Trade and Investment, as the registrar of industrial and provident societies in Northern Ireland, nor the FSA, the UK’s financial regulator, picked up on the fact that the Presbyterian Mutual Society was acting in breach of law.”

We understand why you feel so let down by what has happened with Presbyterian Mutual and we must get to the bottom of why it was allowed to operate for so long outside the scope of regulation. If it had been regulated, then members would have been covered by the Financial Services Compensation Scheme.




LOOKS AS IF GOVERNMENT DON'T WANT TO KNOW

THAT LAST PARAGRAPH IS VERY IMPORTANT!!!!!!!!! DETI seem to be keeping very quiet on this one!!!

SEEMS DETI HAVE A BIT OF ANSWERING TO DO
AS DO PCI
AS DO PMS DIRECTORS

Nomad25

What is not clear is why it was allowed to operate for so long as an unregulated financial services business. If this had been identified earlier, then the problems facing investors might have been avoided.

Hmmm.........sorta stating the obvious.

“why neither the Department of Enterprise, Trade and Investment, as the registrar of industrial and provident societies in Northern Ireland, nor the FSA, the UK’s financial regulator, picked up on the fact that the Presbyterian Mutual Society was acting in breach of law.”

Wow - great and in writing, but would this have been run by their legal eagles?

Mixedup

I sent an email to John Mc Fall MP and have received a reply from the clerk of the treasury committee. He indicated that the chairman was aware of the situation with the PMS and that the chairman is monitoring developments carefully.
Part of my letter told of a particular case of hardship and this was noted. ...
So as earlier posts indicate.....keep writing!!
May'be someone can list the email addresses again.

joylikes2shop

Mixedup wrote: »

May'be someone can list the email addresses again.

HERE'S A FEW FOR STARTERS...

Rt Hon Frank Field MP Email to: [EMAIL="hendeyj@parliament.uk"]hendeyj@parliament.uk[/EMAIL]
(Very influential)

Rt Hon John McFall MP Email to: [EMAIL="john.mcfall@blueyonder.co.uk"]john.mcfall@blueyonder.co.uk[/EMAIL]
Chairman Of House of Commons
Select Treasury Committee

Rt Hon John Mann MP Email to: [EMAIL="mannj@parliament.uk"]mannj@parliament.uk[/EMAIL]
Select Treasury Committee

Rt Hon Andrew Tyrie MP Email to:tyriea@parliament.uk
Select Treasury Committee

Rt Hon G Mudie MP Email to:mudieg@parliament.uk
Select Treasury Committee


Rt Hon Michael Fallon MP Email to:fallonm@parliament.uk
Vice Chairman

Select Treasury Committee


Rt Hon George Osborne Email to: www.georgeosborne.co.uk

Shadow Chancellor


Rt Hon Kate Hoey MP Email to: [EMAIL="hoeyk@parliament.uk"]hoeyk@parliament.uk[/EMAIL]

Rt Hon David Cameron MP Email to: [EMAIL="camerond@parliament.uk"]camerond@parliament.uk[/EMAIL]
Leader Of The Opposition –

Conservative


Letters to Members Of Parliament should be addressed to: The House of Commons, London, SW1A OAA.

Letters to Peers should be addressed to: The House of Lords, London SW1A OPW

Mr Shaun Woodward MP, Secretary Of State For Northern Ireland:

Email: [EMAIL="woodwardsh@parliament.uk"]woodwardsh@parliament.uk[/EMAIL]

Mr Paul Googins MP Security Minister For Northern Ireland:

Email: [EMAIL="paulgoogins@nio.x.gsi.gov.uk"]paulgoogins@nio.x.gsi.gov.uk[/EMAIL]

Letters can be addressed as outlined below:

Northern Ireland Office

11 Millbank Road
London
SW1P 4PN
OR
Northern Ireland Office
Block B
Castle Buildings
Stormont Estate
Belfast
BT4 3SG

fivealive_2

goodbyepci wrote: »

http://www.pcusa.org/pcnews/2009/09381.htm

Thanks goodbyepci; I feel that I'm going to like this Rev. Stafford Carson; he seems very down-to-earth.
:kisses:

fivealive_2

mumoffour77 wrote: »

Im gonna ask a question, and it may sound stupid, but I have been reading this thread with interest.....btw I love all the cloak and dagger stuff;)

I am glad you are reading our thread MUMofFour but please tell me how you managed to find the time and energy to write 990 posts on various threads since July 2008? Do you employ a secretary or a nanny? I also am a Mum of 4 and struggle to keep on top of all this PMS stuff AND go out to work; parent my children; communicate with my husband; help out at church; maintain a semblance of contact with friends, relations and neighbours AND find time to eat/sleep/pray/read my Bible. :doh:
What's your secret? :think:

mumoffour77

fivealive wrote: »

I am glad you are reading our thread MUMofFour but please tell me how you managed to find the time and energy to write 990 posts on various threads since July 2008? Do you employ a secretary or a nanny? I also am a Mum of 4 and struggle to keep on top of all this PMS stuff AND go out to work; parent my children; communicate with my husband; help out at church; maintain a semblance of contact with friends, relations and neighbours AND find time to eat/sleep/pray/read my Bible. :doh:
What's your secret? :think:

A LOT of my posts were for advice:)
Im a student who when preparing assignments gets easily distracted;)..... My assignments are processsed when the kids are in school or they are in bed!!
Hubby has been an inpatient in hospital for 18 months (5 years post RTA....18 months at home when I had to make a decision that nearly tore me apart, but was the best one yet)
Kiddies are most certainly not loseing out, they are turning out just fine (2 of my boys have aspergers! and DD attends the Royal every fortnight with a skin condition) But they all excel in school and I am very proud of each one of them! They have come through a lot!
I have a very active life with my close friends and family.....I love cooking so its not really a chore as such, we sit down together every night at the table and have a family meal (something I have always insisted on) Talk about school, get homeworks done, go to various clubs etc. Bedtimes are between 8.00pm and 9.30pm.
I couldnt afford a nanny......nor would I want one:eek: they are my children!

fivealive_2

mumoffour77 wrote: »

A LOT of my posts were for advice:)
Im a student who when preparing assignments gets easily distracted;)..... My assignments are processsed when the kids are in school or they are in bed!!
Hubby has been an inpatient in hospital for 18 months (5 years post RTA....18 months at home when I had to make a decision that nearly tore me apart, but was the best one yet)
Kiddies are most certainly not loseing out, they are turning out just fine (2 of my boys have aspergers! and DD attends the Royal every fortnight with a skin condition) But they all excel in school and I am very proud of each one of them! They have come through a lot!
I have a very active life with my close friends and family.....I love cooking so its not really a chore as such, we sit down together every night at the table and have a family meal (something I have always insisted on) Talk about school, get homeworks done, go to various clubs etc. Bedtimes are between 8.00pm and 9.30pm.
I couldnt afford a nanny......nor would I want one:eek: they are my children!

I admire you! :grouphug: