Page last updated at 06:28 GMT, Friday, 12 February 2010

Northern Ireland leaders to meet Brown over PMS

Presbyterian Mutual Society door
The Presbyterian Mutual Society went into administration in November 2008

Northern Ireland's first and deputy first minister are to hold talks later with the prime minister to discuss the Presbyterian Mutual Society.

Last month, a High Court judge reserved judgement on whether or not investors and creditors are eligible to get some of their money back.

Peter Robinson and Martin McGuinness will meet Gordon Brown in London.

Almost 10,000 people were affected by the collapse of the Presbyterian Mutual Society in 2008.

Mr Robinson said: "I am determined that their plight will not be forgotten.

"I and my executive colleagues will continue to press the prime minister and the treasury until a satisfactory solution to this problem is found."

Mr McGuinness said: "Many people have put their trust in the PMS and found themselves victims of circumstances way beyond their control.

"I believe there is a responsibility on Gordon Brown and the British government to ensure that they do not incur losses to what for many are their life savings."

The society ran out of cash when investors withdrew money because the PMS was not covered by a government savings guarantee, introduced at the height of the financial crisis.



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SEE ALSO
Judge to rule on first PMS payout
28 Jan 10 |  Northern Ireland
PMS administrator wants extension
07 Jan 10 |  Northern Ireland
Bank interested in mutual society
22 Dec 09 |  Northern Ireland
PMS auditors 'to be investigated'
06 Aug 09 |  Northern Ireland
Mutual society set to be run down
09 Feb 09 |  Northern Ireland
PM meeting sought to help society
26 Jan 09 |  Northern Ireland
Total savings 'refund unlikely'
15 Jan 09 |  Northern Ireland
Is salvation near for church society?
25 Nov 08 |  Northern Ireland
Administrator is appointed to PMS
17 Nov 08 |  N Ireland Politics


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