NI Presbyterian mutual society, Short of funds for withdrawal?

joylikes2shop

amadan22 wrote: »

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

No...it was just the first part of post no 3721

BETRAYED

High Court Listing for Chancery Division Thursday 18 March 2010


10:30 for hearing1409/001140the presbyterian mutual society limited (in administration)

Others and I eagerly await the Administrator's proposal for further creditor representation in this administration.

goodbyepci

http://www.dup.org.uk/Campaigns4.asp

Lester_F

Lester_F wrote: »

Silent Witness,

Just to clarify. Are you offering your legal services Pro Bono to any PMS saver?

Silent Witness the self stated presbyterian elder, trustee of the General Assembly of PCI and trustee of HCCT has not replied to this request for information. Does his silence mean that he is not prepared to offer his legal services pro bono to other PMS members?

If what he has said is true, his services on behalf of the HCCT were and are on a pro bono basis. He has mentioned in previous posts how shareholders could take a certain legal course of action now that they will not to be treated equally with creditors in the Administration process.

Is silent witness prepared to assist a shareholder or shareholders to recover their savings by providing his legal services on a pro bono basis?

BETRAYED

Co-operative and Community Benefit Societies and Credit Union Bill (Lords)

House of Commons 12 March 2010


Extracts

Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
I pay tribute to Malcolm Wicks.( Croydon North Labour) His handiwork was delayed in the previous Session, but this Bill is heading towards the statute book. He was right that the Delegated Powers and Regulatory Reform Committee identified deficiencies, and that they have now been rectified in clauses 5 and 6.
It is important to recognise that a great deal of the work to modernise the framework for mutual societies in the past few years has been done by virtue of private Members' Bills. . It is to the detriment of the Treasury that such a measure, which has a great deal of support, has been delayed because it did not take enough time to get the drafting right.
I am afraid that the Bill is not the only example of that. The legislative reform order for credit unions has had to be withdrawn because the Treasury's supporting documentation was inappropriate. That also delayed the process of reform for credit unions, so there is a lesson to be learned by the Treasury. When it seeks to use such a route to modernise and update legislation, it should do so in a way that meets the highest possible legislative standards.
We all recognise the importance of mutuals, which play a huge role in the economy. There are some very well-known mutuals, such as the Co-operative Retail Society, and credit unions are another form of mutual society. The Wine Society-the right hon. Gentleman and I are both members-is an industrial and provident society. There are mutuals across the country and they are increasingly being used as a way of delivering services and opportunities to communities. This is a booming sector, so it is important that the legislation affecting it is up to date, and provides people with the protection that they would expect in a modern, 21st century economy. The Bill would make some fundamental changes that we should reflect on before it receives its Third Reading, especially as it did not receive a proper outing on Second Reading a few weeks ago.
There is huge support for mutuals on both sides of the House, although I think that everybody recognises they have some limitations and the mutual sector has had some problems in recent years. We do not need to dwell on the Dunfermline building society or the Presbyterian mutual society, but we know that mutuals fail occasionally, and we need to think carefully about what happens then. Directors of friendly societies, building societies or limited companies are disqualified in such instances, but the directors of industrial and provident societies would be able to move on to another such society and continue to serve in that role, and that creates a risk for consumers. It is right that the powers in the Company Directors Disqualification Act 1976, which apply to building societies and friendly societies, should be extended to industrial and provident societies to provide that protection for consumers, creditors and employers. That is an appropriate modernisation measure.

Full Text on this link.

http://www.theyworkforyou.com/debates/?id=2010-03-12a.561.0&s=presbyterian+mutual+society#g561.3

goodbyepci

http://news.bbc.co.uk/democracylive/hi/northern_ireland/newsid_8562000/8562012.stm

goodbyepci

http://www.globalpost.com/webblog/united-kingdom/pms-new-moderator-same-story

http://www.stakeholdermedia.com/politics/tuesday-at-the-assembly-22/

BETRAYED

Today at Stormont

Watch live coverage of the motion on the Presbyterian Mutual Society from 2pm on 16 March 2010.
The Ulster Unionist Party is bringing a motion relating to the Treasury Committee report into the collapse of the Presbyterian Mutual Society.
It says it is concerned with the report's conclusion that the Department of Enterprise, Trade and Investment (DETI) should have taken a lead in identifying the problem and have sought a solution.
The motion calls on Enterprise Minister Arlene Foster to advise the assembly why the situation has not been resolved.

joylikes2shop

In case, like me,you've been wondering why the Newsletter hasn't been reporting as much about the PMS as usual recently, I spoke to Philip Bradfield today (the main reporter on PMS issues) who told me that he's been off work ill for the last few weeks but hopes to be back at work soon.

I know he had been working on a few PMS items before his illness, and hopefully it'll not be long before he's well enough to go back to work....and to get back to reporting on the PMS again !!!

In case you're reading this Philip...:wave:

Thanks for all the coverage and reporting you've done on the PMS since it went into administration.Without your regular coverage and summary of events in the Newsletter, I know many people would feel completely isolated, abandoned and forgotten.Lets hope you will have something positive to report soon, but in the mean time...GET WELL SOON

joylikes2shop

http://www.independent.ie/breaking-news/national-news/minister-issues-pledge-over-savers-2101052.html