NI Presbyterian mutual society, Short of funds for withdrawal?

goodbyepci

Conclusion of today's debate
http://news.bbc.co.uk/democracylive/hi/northern_ireland/newsid_8570000/8570771.stm

Same story in Belfast Telegraph
http://www.belfasttelegraph.co.uk/breaking-news/uk-ireland/minister-issues-pledge-over-savers-14724414.html

BETRAYED

Latest

I have heard that a bank rescue is out.

Treasury will support PMS for property values until property values recover.

NI Executive may help.

PCI is being asked to help.

Administrator should look at this solution.
Administrator should also look at any practical solutions to this dilemma.

Flinflon

Betrayed, I'm confused. You say that "you have heard" there will be no bank rescue. You say "Treasury will support..." and you say "PCI is being asked to guarantee a loan...." This is all very interesting, but you don't name your source. Why not? Without attribution, these kind of comments only feed the rumor mill--and we're so frustrated, we don't need more rumors. Just one or two posts earlier, Sammy Wilson (A SPECIFIC SOURCE) is quoted as saying the government "...is working with the commercial sector...." and yet you say you've heard that a bank rescue is out, but you don't give a source for that information. Can you not see how comments like that just add to our confusion? We wonder: Is Sammy telling a porkie? We wonder: What's a bank if not part of a commercial sector? We wonder: Who asked PCI to guarantee a loan, and when? And it just goes on and on. Please, everybody, opinion is fine but if you're purporting to provide information....tell us how you know that information. Enough of us are already at the edge of despair without being punished further with false or unsubstantiated hopes.

ballyblack

Hear Hear Flinflon!


and today's News Letter;

http://www.newsletter.co.uk/news/Minister-in-pledge-to-PMS.6157230.jp

Lester_F

I welcome Betrayed's comments (and Flinflon's). The more comments made on this forum the better. This forum has been viewed almost 380,000 times. Part of the reason for the huge interest in this site, despite the small number of contributors is that a lot of people do not readily believe what politicans say.

expat68

I think administrator was back in court today ? any news..........

BETRAYED

Below is link to Stormont Debate.

http://www.theyworkforyou.com/ni/?id=2010-03-16.2.92&s=presbyterian+mutual+society#g2.135

I attended the High Court this morning.
As my earlier reporting of Court proceedings was challenged on this forum better wait to see if today's proceedings get any media coverage.

joylikes2shop

http://www.u.tv/News/PMS-savers-may-never-enjoy-investments/6e6b5f81-ed0c-42b3-a79a-3adb31eb0d65

Excap123

Hello
I've just joined this website. I have read this report. As far as I can see this person named in the court Mr Thomas Howie wants to wind the PMS up now and take all his money. Where does that leave small savers. Is Mr Howie able to do this - I thought the idea was to do this over some years so that everyone had a chance of getting something back. Is it just those who have big money to hire smart lawyers who get a say in how this thing is ran?
Is Mr Howie on this website. suppose we don't know. does anyone know him and able to speak to him about what he is doing?

expat68

"These are elderly people. Some of them may die, some of them may not have the opportunity to enjoy the fruits of their savings," he said.
"Your Lordship would have to be satisfied there is a very good reason to allow an extension of five years and deprive these people of their savings."

This is about as hypocritical as it gets - the guy has already ensured that anyone with under £20K will probably never get their savings anyway. Mr Howie makes me sick - I'm sure he feels strongly about his buildings in Africa but I feel quite strongly about my parents savings which they may never get thanks to him. There is nothing Christian about him and his trust.