NI Presbyterian mutual society, Short of funds for withdrawal?

HOPE

Flinflon

I note what you say and yes we are all frustrated. With mutual respect I do not need to go back to basics and I do not consider that my last sentence is non sequitar in that it is logical in the premise of things.

The only persons that can sort this out now is the Minsterial Working Group and it is evident certainly by communications that I have received from quite a number of politicans that further time is needed to secure a deal with a financial institution. I have not received anything which makes me feel negative only positive. Yes I used the word "if" deliberately and it would be silly of me to say otherwise but I have hope and an encouragement which was not there six months ago. We have every chance of getting all our savings back. Perhaps a little faith may help us and to work on the positives rather than the negatives of the situation.

Ballygal

When I read Arthur Boyd's Christmas Card (Shows at 85, my mum still has a dry sense of humour!) as bedtime reading, Paragraph 4.8 seemed very interesting!
Would be interested in anybody else's views! Is he referring to directors do you think?

BETRAYED

Ballygal wrote: »

When I read Arthur Boyd's Christmas Card (Shows at 85, my mum still has a dry sense of humour!) as bedtime reading, Paragraph 4.8 seemed very interesting!
Would be interested in anybody else's views! Is he referring to directors do you think?

Paragraph 4.8 is interesting.
I have heard that some loans were made with a letter from a solicitor(s) confirming that there was no other charge on the deeds, as security.
This was very careless.
Question

From the accounts I see we have 23m in bank.
Administrator paid Fees 472,000
Expenses 110,000

Legal Fees 313,000
At 8.5.5 it states that at 16Nov 09 legal costs incurred and not billed amounted to 146,000 ex. vat.

Administrator claimed in expenses 26,928 for PR and Media costs.

Lester_F

Regular contributors to this forum know that I have declined to support the on line crucifixion of Stafford.

However, his integrity on this subject could be tested as follows.

Stafford's congregation in Portadown have approximately £1 million in the PMS. Are they prepared under his leadership to waive their right as creditors to receive their money before shareholders; to be treated equally with shareholders?

pensiongone

Lester_F wrote: »

Regular contributors to this forum know that I have declined to support the on line crucifixion of Stafford.

However, his integrity on this subject could be tested as follows.

Stafford's congregation in Portadown have approximately £1 million in the PMS. Are they prepared under his leadership to waive their right as creditors to receive their money before shareholders; to be treated equally with shareholders?

Let's not forget that the money belonging to the congregation is not " their" money, their own hard earned savings - even though they may have worked hard to raise it. Or maybe not, such a sum may be as a result of selling property belonging to the congregation?

So they may have a different attitude to money in the PMS, from those who have laboured a lifetime to provide for retirement or children.

They may be prepared to settle for mutuality, as it is the congregations money.

So not really a test of integrity?

pensiongone

jon_groovy wrote: »

Pension, i know that people from PCI and church house read this forum. Just wondering if you have had any response to your wonderful post ?

jon_groovy

Thank you for your kind words, I have had no response at all to my post.

I am disappointed - but not surprised.

goodbyepci

http://www.newsletter.co.uk/news/PMS-savers-welcome-a-glimmer.5927317.jp

BETRAYED

CHANCERY (JUDGE) at ROYAL COURTS OF JUSTICE on 21 Dec 2009 in at 09:30.List OrderProceeding IDCase TitleReason For Listing09:30 TO BE MENTIONED 09/001140/01THE PRESBYTERIAN MUTUAL SOCIETY LIMITED (IN ADMINISTRATION





09/001140/01
THE PRESBYTERIAN MUTUAL SOCIETY LIMITED (IN ADMINISTRATION)




I have been told that the case was adjourned.

goodbyepci

http://www.irishtimes.com/newspaper/finance/2009/1222/1224261107820.html

goodbyepci

http://news.bbc.co.uk/1/hi/northern_ireland/8425846.stm

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