NI Presbyterian mutual society, Short of funds for withdrawal?

BigAl94

I take it everyone is aware that one of the main developer debtors is a member of the Church of Ireland?

Also, why has this thread been moved from the N I forum?

crazymess

I don't understand - something going on!!!


The plot thickens -

Goodbyepci - do you not think investors should know where their money went to???

BigAl94

I know the name but it is not "out in the open" as yet Many in the Dungannon area would know who.

joylikes2shop

JUST TO LET YOU KNOW........
THIS THREAD HAS BEEN MOVED FROM THE 'N.IRELAND' SECTION OF THE FORUM, TO THE 'DISCUSSION TIME' FORUM.......:eek:
I'VE POSTED THIS INFO ON THE 'N.IRELAND' SECTION OF THE FORUM PAGE,BUT ANYONE WHO'S NOT REGISTERED WILL NOT BE ABLE TO ACCESS IT.
:eek: YES, IF PEOPLE REGISTER THEY'LL STILL BE ABLE TO FOLLOW THE THREAD, BUT IN THE MEANTIME IT WILL CUT DOWN ON THE NUMBER OF PEOPLE HAVING ACCESS TO THIS WONDERFUL THREAD.:eek:

goodbyepci

Link to BBC news

http://news.bbc.co.uk/1/hi/northern_ireland/7849750.stm

I see the Moderator thinks the Society was going along nicely till GB messed the whole thing up.

Nothing to do with the development land and the buy to lets then. :rolleyes:

red_bertie

Unfortunately during times like this, the blame game starts.

Before long they'll try and fragment the over/under 20K people. Keep presenting a united and dynamic front, as demonstrated on this thread.

CYNIC_3

I have followed this thread from day one but refrained from posting as I am not personally involved.

However I am extremely cynical about the wealthiest organisations on this planet - Churches.

I watched with disgust the interview on TV back in November when a representative from the Church squirmed, twisted wriggled and played with words to distance his organisation from the PMS.

Had he been a politician I would have expected no less - but this is a "Godly" man, and to watch it made my stomach turn.

The reason I have chosen to post at this time again stems from my cynicism.

The Church has asked all its ministers to make announcements at services toady and explain to people how to sign the petition etc.

My question - Did this happen in your church toady ?

Was sufficient time spent on the subject to allow the elderly people who have no access to sites like this understand what is happening.

I hope I am wrong for the sake of those elderly people who trusted in their church - but I doubt it !

Let us all know what happened in your church today

crazymess

At the end of the day we want our money returned in full.

Couple of points:

1.The PCI and Politicians have stepped up now and hopefully we will get our funds returned. If government doesn't bail us out then I would have thought the PCI will - its not just the investors affected by this, also congregations who have their money involved and also those congregations who have borrowed money. So it therefore could affect say 50%- 65% of the church or more.

2. If it is true that the Director who resigned from PMS on 30/9/08 was a Partner or employee in the Acting Law Firm for the Administrators, To quote a previous post - "a little cosy"................ all very strange.

3. Who selected the Administrator and Law Firm? Although it is understood keener rate than others.

4. We can't have a public meeting - as we need 10% of the total amount of savings - the figure we are not allowed to know????????? and we also can't afford to pay for it as our money is tied up - we therefore are DENIED our RIGHT to a Creditors Committee.

5. It is so shocking that all of this is being paid for out of our tax paid SAVINGS.

6. I think we need a good Company Lawyer, perhaps with money invested and feeling the same way we do to help us!!!!!

goodbyepci

crazymess
4. We can't have a public meeting - as we need 10% of the total amount of savings - the figure we are not allowed to know????????? and we also can't afford to pay for it as our money is tied up - we therefore are DENIED our RIGHT to a Creditors Committee.

Looking at the administrators report, I think the creditors meeting has to be booked within 5 days of the report being sent out.

I would imagine the creditors committee can still happen

It's all very short notice isn't it?

PolishBigSpender

This story has been kept rather quiet, no?