NI Presbyterian mutual society, Short of funds for withdrawal?

goodbyepci

Anyone know how we can get in touch with Liam Clarke?

Whatnow?_3

goodbyepci - I was thinking exactly the same thing.

I am sure that they will have so that they can be thinking out their strategy.
I'm sure they're not tossing and turning in their bed at night trying to figure it out like the rest of us who are at our wit's end.

crazymess

So the General Petition to Downing Street is going well. But as I understand this is a general one. Can someone confirm will this do for us as well? The closing date is ? February 2009.

Our votes need to be in by end of January 2009!

What are we going to do now?

Are we going to petition PCI?

Are we going to petition Stormont? Realise this needs higher authority but they can bring it on to Downing Street?

Or are we going to sit back and just take whatever Arthur Boyd gives us in 18 months? You see they talk about voting for an orderly wind-down - surely that would take up to 10 years to get a higher return. So then why and how are they saying this will be sorted out in 18 months. Oh yes, everyone vote and then just throw us what ever is left after all the professionals have been paid.

I'm down to 40% in the £1 now.

eldivo

crazymess wrote: »

Eldivo

I don't have scanner - they are my written questions and answers from a verbal conversation with PMS. I can assure you if I was told 85 million was lent to Property Developers in mid-September and only 12 million to Church Congregations I would have gone down to Glengall Street immediately demanding repayment of our investment!

Ah, my misunderstanding, If it was a written reply from the PMS its clear evidence of fraud.
Like you, if I had wanted to jump on the Property boom bandwagon, I would not have had money in the PMS. I - like a mug - was under the impression I was helping support PCI congregations, and fellow members. Like George Baily in a wonderful life, "we dont have your money, its in Bills house, Johns house, Toms Church, etc". Thats why I wasnt too concerned when this initialy happend.
Again, what an idiot. This is not made any better by the fact i considered taking my money out last year to put into an Icelandic bank to take advantage of the higher rate. (I didnt because I didnt want any risk). Again Idiot.
I will get over this. But it breaks my heart explaining to others, especialy those at the end of their working lives and already retired that if the PMS was wound up tomorrow the "shareholders" could expect 0p in the pound.

Whatnow?_3

I am sorry but we will not get over this. We put everything we had into PMS because we believed that it was low risk. Had I thought for 30 seconds that it was being used for property developers and buy to lets, I can assure you my money would not have been there. If I had wanted high risk I would have gone for stocks and shares. We'd already had experience of that and therefore wanted a low risk strategy!!
We are up the walls. What really gets me is the deliberate deceit that was taking place and it just seemed to get easier to tell people the same thing and at the same time begin to believe it oneself. Take about burying head in the sand.
We cannot take the attitude that we will get over it. That's exactly what PCI want - lie down, keep quiet and it'll all go away.
It's the stress that is overwhelming.

eldivo

Whatnow? wrote: »

I am sorry but we will not get over this. We put everything we had into PMS because we believed that it was low risk. Had I thought for 30 seconds that it was being used for property developers and buy to lets, I can assure you my money would not have been there. If I had wanted high risk I would have gone for stocks and shares. We'd already had experience of that and therefore wanted a low risk strategy!!
We are up the walls. What really gets me is the deliberate deceit that was taking place and it just seemed to get easier to tell people the same thing and at the same time begin to believe it oneself. Take about burying head in the sand.
We cannot take the attitude that we will get over it. That's exactly what PCI want - lie down, keep quiet and it'll all go away.
It's the stress that is overwhelming.

I know its little consolation, but you are not alone.
I am horrified by how much money this bunch of, I'm struggling for the word here crooks or incompetents? Have cost close family and friends.
When I said I'd get over it I meant financialy. I will not get over the treatment of PMS members by the leadership of the PCI.

amadan22

dear goodbyepci, remember post#245? these questions shall be put on the 21st to the deti i.e. this wednesday! should we not be trying to contact this mr. kennedy? also are we not sorting out our own petition no matter who it is aimed at? cheers.

goodbyepci

Already emailed him :T

:beer:

amadan22

thank you for all your time a trouble. cheers again.

CoolDude_2

Please everyone be cautious !!!!

Keep signing the petition to the Prime Minster for investers in Presbyterian Mutual Society to be given the same guarantees as the Banks were given back in October 2008 there must be a way around this to alleviate the terrible pain this is causing to everyone especially older people who need their money now to live on