NI Presbyterian mutual society, Short of funds for withdrawal?

Silent_Witness_2

Lester_F wrote: »

They have no legal connection to PCI.

Mr. Howie is a rich old man from Londonderry.

The years of birth of the three trustees of the Howie Christian Charitable Trust at the time PMS went into liquidation on 14 November 2008 were 1939, 1944 and 1945. [Group A]

The years of birth of the Directors of PMS as the time it went into Administration were 1920, 1922, 1926, 1928, 1931, 1935, 1936, 1937, 1938, 1941, 1943, 1946, 1947, 1953, 1955, 1956, 1957 and 1980. [Group B].

Which group had a direct involvement in determining the present value of PMS shares?

I want every penny of my [currently worthless] 200 £100 Shares in PMS back and it matter not to me if the person who helps secure that was born in 1920 or 1980 or anywhere in between nor does it matter to me if he or she is rich [or poor].

Silent_Witness_2

expat68 wrote: »

Is it just me or is there some irony in a foundation with charitable and christian in their name arguing in court that so many people should be deprived of their savings. I am reminded of the posting from January of the OAP who was unable to heat her home and the undoubted many more like her......good work Pastor Howie and God bless.

The sole purpose of the involvement by The Howie Christian Charitable Trust in the Chancery Court Proceedings is to enable the issue of whether the Administrator can lawfully treat both shareholders and creditors alike in the distribution of the assets of the Presbyterian Mutual Society.

goodbyepci

http://www.belfasttelegraph.co.uk/opinion/letters/pms-savers-see-light-at-the-end-of-the-tunnel-14665668.html

expat68

Silent_Witness wrote: »

The sole purpose of the involvement by The Howie Christian Charitable Trust in the Chancery Court Proceedings is to enable the issue of whether the Administrator can lawfully treat both shareholders and creditors alike in the distribution of the assets of the Presbyterian Mutual Society.

My point was that the QC representing the Howie Christian CharitableTrust was arguing his utmost to deprive the smaller savers of their funds.
Citing legal authority, he said that those holding shares “come at the bottom” and that the duty of the administrator is not to them. “That is the detriment of becoming a shareholder” he said.

This didnt seem either charitable or christian so perhaps he should change the name of his trust to Howie Creditor and definitely not a Shareholder Trust. Then again we all now know that the Presbyterian Mutual Society was nothing to do with the Presbyterian church.

BETRAYED

Question
Should the High Court Judge not find in favour of shareholders next week will the administrator go to the NI Court of Appeal and even the new Supreme Court?
Paying his own and Howie's court costs will be major drain on our funds.

IWish

http://news.bbc.co.uk/1/hi/northern_ireland/8497851.stm

john2009

expat68 wrote: »

My point was that the QC representing the Howie Christian CharitableTrust was arguing his utmost to deprive the smaller savers of their funds.
Citing legal authority, he said that those holding shares “come at the bottom” and that the duty of the administrator is not to them. “That is the detriment of becoming a shareholder” he said.

This didnt seem either charitable or christian so perhaps he should change the name of his trust to Howie Creditor and definitely not a Shareholder Trust. Then again we all now know that the Presbyterian Mutual Society was nothing to do with the Presbyterian church.

I'm with expat68 on this. Well done the Howie Creditor Trust.


Isn't it interesting that Silent Witness appears with his/her first only very recently... a sign as to their identity perhaps...

freddiemae

http://www.sluggerotoole.com/index.php/weblog/comments/throw-money-at-the-pms-dup-cloud-cover-strategy/


also mentioned on RTE news at 9pm as possibly being part of the deal for P&J.

Lester_F

BETRAYED wrote: »

Question
Should the High Court Judge not find in favour of shareholders next week will the administrator go to the NI Court of Appeal and even the new Supreme Court?
Paying his own and Howie's court costs will be major drain on our funds.

I hope the Administrator will do everything in his power to have shareholders treated justly.

Ernest Howie may decide to appeal the court's decision if it goes against him.

totallyletdown

I haven't be following, Is Ernest Howie trying to get things to stand as they are and have the larger shareholders paid first ?

Also,if there is now a 'deal' in northern ireland politics, was the PMS being saved included in this ?