NI Presbyterian mutual society, Short of funds for withdrawal?

non_member

fivealive wrote: »

The contact details for Paul Butler, MLA for Lagan Valley are:
Contact Address:Parliament Buildings
Belfast
BT4 3XX

Telephone Number:02890521471
E-Mail Address:[EMAIL="Paul.Butler@niassembly.gov.uk"]Paul.Butler@niassembly.gov.uk[/EMAIL]

Remember that we do need cross party support.

Life really is stranger thank fiction and now we have an uplifting example of help coming from a surprising source, This really highlights that it is only when the chips are down that you find out who your friends really are...Go mbeire muid beo ar an am seo aris! :beer: :T

fivealive_2

non_member wrote: »

Life really is stranger thank fiction and now we have an uplifting example of help coming from a surprising source, This really highlights that it is only when the chips are down that you find out who your friends really are...Go mbeire muid beo ar an am seo aris! :beer: :T

Go neiri an bothar leat :dance:

Josef

Many many thanks for all your posts especially the links. One thing for sure, is that the local postman well knows by now who the PMS people are with the logo on the back.

MamaMia_2

Evening All,

I haven't posted for a while, but have been following the thread. I would encourage everyone to post, whatever your view is.

And now for a question.........

Does anyone have a loan from the PMS and savings in the PMS?

Could the savings be offset against the loan? It would be keeping a certain amount of the loan book 'in-house'. Has anyone asked the administrator this question?

expat68

MamaMia wrote: »

Evening All,

I haven't posted for a while, but have been following the thread. I would encourage everyone to post, whatever your view is.

And now for a question.........

Does anyone have a loan from the PMS and savings in the PMS?

Could the savings be offset against the loan? It would be keeping a certain amount of the loan book 'in-house'. Has anyone asked the administrator this question?

See administrators report page 15 section 4.14.2 which certainly covers the interest element. As things stand I think answer is no "set off" of loans vs. savings. There may be a future resolution to soften this to some extent.

sickasaparrot

Welcome back Mama Mia :hello:

Page 5 of the Administrator's report states:-

"Historically I understand that the interest payable on borrowing from the Society was set off by some members against the investment they had made in the Society. This is a practice which some members have asked to continue following my appointment.

My lawyers have advised me that this position has now changed as a result of the insolvency laws which apply to the administration of the Society. I am advised that a member is no longer able to exercise their rights of set off but that the Administrator would apply Insolvency set off rules if he makes a distribution.

I am conscious that this is not how the Society operated since it commenced in 1982. If my proposals are approved by the members, the members will be provided with an opportunity, if they wish, to re-instate the original rules of the Society or such other terms that they may approve at a later date".

Hope this helps.

goodbyepci

The News Letter article looks hopeful?

Mark789

우리가 영어로 포스트를 지킬 수 있었다 그래서 모두가 이해할 다는 것을 어떤 기회 있는가?

warmhands.coldheart

After what has been in the news in recent hours regarding the FSA.. One would query if their "Regualtion" would have made a blind bit of difference??

warmhands.coldheart

PS.. Interesting Poll Jon_Groovy

And very interesting characters from you Mark789:rotfl: :rotfl: