NI Presbyterian mutual society, Short of funds for withdrawal?

Orra

'anotherDonald' invents an agenda can you leave me out of that. The Administrator is I believe above reproach the delays have been elsewhere, both legal waits thirty days here and there also awaiting Executive and Departmental decisions worse still inter-Departmental decisions and the Treasury. With regard to an individual's disclosure of funds in or out of the PMS I know of one case where the elderly parent has passed away one year ago approximately and the funds are now a legacy to the two siblings. Surely before 'anotherDonald' rubbishes a contributor to this forum he should use his brain and think of other reasons for the apparent discrepancy. Should he not implement this suggestion we could refer to him as 'anotherDonaldDuck' quack quack!
Come on 'Betrayed' what about that apology your silence is remarkable.

abeliever

I repeat my earlier point:

"Betrayed has lobbied constantly & consistently to protect the interests of the small saver !!" He is also entitled to point out that savers/creditors are losing interest every day that funds are not paid out ! In the background, the Administrator clearly has to do "what needs to be done" to facilitate the payout .... & hopefully cheques will be arriving shortly.

Orra

I agree with 'abeliever' but lets not blame The Administrator or allow him to be blamed for the delay which is beyond his control. I am guilty of repetition too. Donald must be out for a paddle.

Grrrandad

Come on folks no point in bad mouthing each other or 'quacking up' at this late stage. We have all been through too much to have fall outs on the last lap.

I have no doubt the Administrator is following the correct procedures but agree it does feel like an age waiting for the cheque to arrive.

Lion44

I agree Grandad and I have no intention of quacking up at this stage and neither should anyone else. We have been in a terrible place but it is over now even though emotions still run high. Let's not point the finger at the Administrator who no doubt has a very difficult task in hand and there must be many legalities to settle.
The main thing is that our cheques are iminent. 12 months ago there was not a penny on the table and no help was forthcoming. It looked liked savers with 20k or under had lost everything. Thanks to all Creditors for helping to make this happen.:T

BETRAYED

Lion44 wrote: »

Let's not point the finger at the Administrator who no doubt has a very difficult task in hand and there must be many legalities to settle. .:T

Lion44,
Do you have any idea what the "many legalaties" are.
Sorry to disappoint but I have no intention of apologising to Orra or anybody about my postings on this forum.
Glengall Street have confirmed to a saver this afternoon that funds have still not been drawn down from Stormont.
Could it be that the Administrator is avoiding drawing down until the eleventh hour to save on interest charges to him?
I am sure he knows that it takes some five days to clear a cheque...so he is probably taking advantage of that fact to benefit the PMS account.
Don't know why Administrator could not have asked for savers' bank account details so as he could have done a BACS transfer saving postage time etc.

Lion44

Betrayed - My reading of the website is that it appears that Government seem to have imposed pre-conditions (whatever they are) on the Administrator which he has to meet before the monies are released by DETI. I called the PMS office today and they are working flat out. I really do not think that there is any advoidance on the part of the Adminstrator. I got the impression that it would not be much longer until cheques would be issued. I do not believe that the Adminstrator can hold the money wants he gets it, it must be distributed to the members and creditors immediately.

abeliever

We may hear something from the Administrator via his website tomorrow (Thursday)

abeliever

Update from the Administrator Thursday 28 July 2011

The Joint Supervisors have been working closely with the Department of Enterprise Trade and Investment to fulfil all the pre-conditions to enable funds to be drawn down. As you can imagine, a transaction of this size and nature is complicated but we are now in the final stages. Cheques are ready to post and will be sent at the beginning of next week following the completion of all pre-conditions and the funds having been transferred to our account. We are grateful to members and creditors for their patience.

ballyblack

WELCOME HEADLINES

NEWS LETTER today


PMS cheques ‘are ready for posting’


http://www.newsletter.co.uk/news/local/pms_cheques_are_ready_for_posting_1_2912569


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