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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