NI Presbyterian mutual society, Short of funds for withdrawal?

portstewart

Re Ministers of Religion & Employment Status

"In December 2005, the House of Lords ruled (Percy v Church of Scotland Board of National Mission) that the relationship between a minister of religion and her church could be considered to be one of employment within the meaning of the Sex Discrimination Act 1975"

Information should be available if you Google "Percy v Church of Scotland Board of National Mission"

Turning to some of the recent posts there is clearly a black hole which will take some filling so every opportunity needs to be taken to keep this issue in the public eye.

As you will see from our politicians they don't like the spotlight on them but changes will now be made after recent coverage in the Daily Telegraph....

Compare this with the dignified silence of PMS investors and their tolerance of the buck passing. Time to get vocal and make public challenges.....

portstewart

Following on from #2367 can I further draw attention to para 28 of judgement in the Percy case where under a section entitled parties to a contract it is suggested that "the 'church' may not be an entity capable of making a contract or of suing or being sued"...obviously a potentially relevant issue for PMS investors if any are thinking of going down that line with PCI .... this is perhaps something for consideration by the legal minds amongst us .....

crazymess

portstewart wrote: »

Re Ministers of Religion & Employment Status

".

As you will see from our politicians they don't like the spotlight on them but changes will now be made after recent coverage in the Daily Telegraph....

Compare this with the dignified silence of PMS investors and their tolerance of the buck passing. Time to get vocal and make public challenges.....

Any suggestions how one does this?????????????

D.A.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2009/05/should_we_save_building_societ.html

Might be worth someone dropping him a wee email about PMS...

Toastandbutter

Fivealive

And how much do you think PCI is actually worth if you want to sue both it and the PMS directors?

I think it has assets of some £40 million...

Is it viable to liquidate the entire church to fill in a fraction of the £120m black hole?

Maybe thats exactly what many people here would feel like doing!?

pensiongone

Toastandbutter wrote: »

Fivealive

I think it has assets of some £40 million...

Is it viable to liquidate the entire church to fill in a fraction of the £120m black hole?

Maybe thats exactly what many people here would feel like doing!?

£43M in general investment fund
Another £20M in other reserves that could be bought into play
A site at Lucan valued at between £4-6M
(figures from The Times)

Manses, fields, Church House, - shall I go on?

It is what many people feel like doing, and make no mistake it will happen!!

goodbyepci

http://www.theyworkforyou.com/wrans/?id=2009-05-12a.195.7

Dr._Who_2

Notice that David Cameron said concerning the row about MP's expenses that it wasn't so much about rules - it was more a "moral and ethical" issue.
Feel that this is at the heart of PCI/OMS issue - when you encourage someone to do something and it all goes wrong a moral/ethical issue is immediately raised.
Think this needs to lie at the heart of debate at Assembly - what is the moral responsibility of PCI here. Surely it's to do something significant to help the people who responded to the encouragement to invest in PMS because, either consciously or otherwise, they felt they were helping their church.

Bigcammy

From the BBC news website this morning: -

The Northern Ireland Office has suggested it is unlikely to guarantee Presbyterian Mutual Society (PMS) savers' investments.
It said this was because the society carried out unregulated activities.
PMS saver Ivor McCandless said it would appear that the NIO and the secretary of state were "trying to distance themselves completely from us".



Rest of the article here - http://news.bbc.co.uk/1/hi/northern_ireland/8049416.stm

OldJohn

Just picked this up from another mailing I receive -

http://www.moneyhospital.co.uk/blog/post/want-a-cheaper-mortgage-move-to-ireland-20088?cid=MH257

Keep grinding away at politicians!