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| Version 1 | Version 2 |
|---|---|
| MP in appeal over society savings | MP in appeal over society savings |
| (about 2 hours later) | |
| Lagan Valley MP Jeffrey Donaldson has met the Presbyterian Moderator following the collapse of the Presbyterian Mutual Society. | |
| The PMS administrator, Arthur Boyd, had recommended investors accept a proposal which he said would give them some of their money back. | The PMS administrator, Arthur Boyd, had recommended investors accept a proposal which he said would give them some of their money back. |
| He added if this was rejected the PMS would have to go into liquidation and members were likely to receive less. | He added if this was rejected the PMS would have to go into liquidation and members were likely to receive less. |
| Mr Donaldson said PMS members needed more information to make a decision. | Mr Donaldson said PMS members needed more information to make a decision. |
| "I think it is just not good enough to send letters out to people and say here are the decisions," he said. | "I think it is just not good enough to send letters out to people and say here are the decisions," he said. |
| "There is a lot of complexity involved in all of this. | "There is a lot of complexity involved in all of this. |
| "I think a lot more clarity needs to be brought to the situation. | "I think a lot more clarity needs to be brought to the situation. |
| "I think we need more information so that investors who have to make decisions about their investments can do so on an informed basis and get answers." | "I think we need more information so that investors who have to make decisions about their investments can do so on an informed basis and get answers." |
| A spokesman for the Presbyterian Church said the moderator shared with Mr Donaldson "the real concerns for those people that are caught up in the midst of this with a lack of information". | A spokesman for the Presbyterian Church said the moderator shared with Mr Donaldson "the real concerns for those people that are caught up in the midst of this with a lack of information". |
| "People are saying there is not enough information," said the spokesman. | "People are saying there is not enough information," said the spokesman. |
| "They can't get to the facts and this has to be related back to the mutual society." | "They can't get to the facts and this has to be related back to the mutual society." |
| Mr Boyd wrote to 9,500 of the society's members last week recommending "an orderly run down" of its business over time. | Mr Boyd wrote to 9,500 of the society's members last week recommending "an orderly run down" of its business over time. |
| More than 50% have to back the plans, with a vote deadline of noon on 30 January, for them to go ahead. | More than 50% have to back the plans, with a vote deadline of noon on 30 January, for them to go ahead. |