NI Presbyterian mutual society, Short of funds for withdrawal?

ballyblack

http://www.bbc.co.uk/news/uk-northern-ireland-18355177

Lakeland

Very interesting that this case has been held back until 2013. A number of these men have serious medical conditions and it is surely right to hear a case when respondents are in good health.
The coment that "All" Directors should have been included in the case begs the question. Had all directors, regardless of age , gendre, length of experience, equal responsibilty for making and implementing lending, repayment, and auditting policy?
It has never been revealed publicly who those Directors were that made up loans and audit committees.
We know from Administrators report, it is clear that reckless lending to Developers and Buy to lets are the most difficult area of loans book, although there are other difficult accounts.
When did this policy begin, which Directors made decisions?
These are vital issues for every member to know.

BETRAYED

Financial Services Bill at Stormont


http://www.theyworkforyou.com/ni/?id=2012-06-11.5.1&s=presbyterian+mutual+society#g5.10

fivealive_2

First the PMS and now the Ulster Bank :mad:
Just checked my current account and my wages that went in 23rd June still not showing I went into my branch on Monday 25th June and paid my credit card bill out of my Ulster Bank savings but the credit card company (not Ulster Bank) still haven't received the payment :eek:

pensiongone

just found this document
http://www.courtsni.gov.uk/SiteCollectionDocuments/Northern%20Ireland%20Courts%20Gallery/Court%20Lists/Chancery_Term_list.pdf

Look up page 15

Anyone know whats happening in May next year?

trying_to_help

Nothing new here - this is the disqualification proceedings against the five directors. They has already been mentioned in the News Letter.

trying_to_help

Apologies for grammar in second sentence!

freddiemae

http://www.thisismoney.co.uk/money/news/article-2231827/Reverend-Carmel-Jones-banned-financial-services-using-credit-union-founded-issue-unlawful-loans.html

a Pentecostal credit union issuing unlawful loans

BETRAYED

A Progress Report for the period 17 Nov.2011 to 16 Nov.2012 has been sent to creditors and members.
Some interesting reading.

fivealive_2

BETRAYED wrote: »

A Progress Report for the period 17 Nov.2011 to 16 Nov.2012 has been sent to creditors and members.
Some interesting reading.

OK I have just read said report from cover to cover but my brain has perhaps been dulled by Christmas or menopause or Presbyterian Mutual Society overload so please tell me the "interesting bits" in plain English?