NI Presbyterian mutual society, Short of funds for withdrawal?

Flinflon

Just listened to Norman Hamilton on William Crawley's programme. Quite disappointing, in that they spoke for less than 20 seconds about the PMS, and absolutely nothing new in what was said--except that Norman Hamilton said he has £200 in the PMS, so gets all the annual reports, letters, etc. He said also that he has met people who are "profoundly distressed" by the impact of PMS upon them. Well, nothing new there. I think in order for many of us to lose our scepticism about the church and the little it has done on this issue, Rev. Hamilton will have to address the crisis with two things: some action and some imagination. Anyone can urge prayer, praise us for our patience, and meet with politicians to impress upon them our concern. But the church (Carson specifically) has been doing that for months, and there's no indication from the politicians that they've been influenced by the PCI. I hope nothing but the best for Rev. Hamilton as he addresses our difficulties in the months to come, but first indications are not encouraging. Looks like more of the same.

no_more_f.w.o

Flinflon wrote: »

Just listened to Norman Hamilton on William Crawley's programme. Quite disappointing, in that they spoke for less than 20 seconds about the PMS, and absolutely nothing new in what was said--except that Norman Hamilton said he has £200 in the PMS, so gets all the annual reports, letters, etc.

£200 seems a strange amount to have in the PMS
I mean
Why bother?

It's the sort of thing I have done in the past when I nearly emptied out a savings account, but decided to keep a small amount in it to keep it in operation................


Pure speculation of course.....

D.A.

Flinflon wrote: »

there's no indication from the politicians that they've been influenced by the PCI.

Property developers, on the other hand...

(allegedly)

Lester_F

no_more_f.w.o wrote: »

£200 seems a strange amount to have in the PMS
I mean
Why bother?

It's the sort of thing I have done in the past when I nearly emptied out a savings account, but decided to keep a small amount in it to keep it in operation................


Pure speculation of course.....

Pure poison on the part of No More FWO to imply without any evidence that Rev. Norman Hamilton had acted in a certain way.

no_more_f.w.o

Lester_F wrote: »

Pure poison on the part of No More FWO to imply without any evidence that Rev. Norman Hamilton had acted in a certain way.

Pot kettle black comes to mind!!

totallyletdown

Can anyone tell me what is happening with this whole saga now ?
Has it been forgotten about, its seems to have totally died.
Is there anything happening anywhere ?

freddiemae

goodbyepci wrote: »

The letter doesn't seem to be online, so I have transcribed it - below

Someone must have told Arlene they aren't going to vote for her

Oh dear!



Foster offers reassurance to PMS savers.

Work continues to find a resolution to the plight of Presbyterian Mutual Society (PMS) savers.
As PMS members will know, from recent statements by the First Minister and deputy First Minister, a number of options are being actively pursued.
The issues involved are very complex with legal, regulatory and commercial sensitivities central to the discussions.
Much of the work has to remain confidential but I want to offer my assurances to PMS savers that there is a strong will, within the Executive to find a resolution.
We continue to seek the best possible outcome for all savers. In particular, I want to see help for savers that won’t benefit from the ruling by the Hon Mr Justice Deeny, that creditors would receive interim payments from the administrator.
Officials are, as a matter of urgency, pursuing discussions to try to identify a satisfactory outcome for PMS members. It is planned that an agreed paper on options to resolve the PMS problem will be presented to the Ministerial Working Group within the next week to 10 days.
I want to reiterate my commitment to being very firmly focused on a resolution for PMS savers

Arlene Foster
Minister of Enterprise Trade and Investment.

This was posted 27.02.10 - nine days ago.

goodbyepci

http://www.newsletter.co.uk/columnists/Responsibility-for-PMS-must-be.6134542.jp

joylikes2shop

BETRAYED wrote: »

I want to know why creditors have not heard from the Administrator.

I was told today that the Administrator is still waiting for the court to tell him when he can start to make repayments (???) Once the Administrator has been given this information, he will then write out to the creditors telling them that they should expect to recieve it 28 days later ???


I've just looked at the website http://www.presbyterianmutualsociety.co.uk/ ( last updated by the Administrator 12 February 2010)


Where the Update from the Administrator dated 28 January 2010 states ...........
...''When these matters are clarified, I am then obliged to give 28 days notice to those to whom I am directed by the Court to pay a distribution.''....
The Administrator also states....

''It has been impracticable for me to write to everyone with this update, which is why I am placing it on this website. I will endeavour to provide regular updates on progress, either through the website or by way of letter..''

I think it would be REALLY useful if the Administrator would update the website more regularly....if only to confirm or clarify the information I was told today...

amadan22

has one of betrayed's posts gone awol? could just be going mad.