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Moderators in appeal over society | Moderators in appeal over society |
(about 1 hour later) | |
Twenty-three former Presbyterian moderators have written to the British and Irish governments. | Twenty-three former Presbyterian moderators have written to the British and Irish governments. |
They have asked them to help the Presbyterian Mutual Society, after it went into administration in November. | They have asked them to help the Presbyterian Mutual Society, after it went into administration in November. |
The moderators said this was partly caused by the government not extending its savings guarantee scheme to the society. | The moderators said this was partly caused by the government not extending its savings guarantee scheme to the society. |
The Very Reverend John Dunlop has said the prime minister has a moral obligation to help. | The Very Reverend John Dunlop has said the prime minister has a moral obligation to help. |
"Whenever Gordon Brown became prime minister he said he would be guided by the ethics and morals of his father," he said. | "Whenever Gordon Brown became prime minister he said he would be guided by the ethics and morals of his father," he said. |
"Now Gordon Brown was raised in a Presbyterian manse, his father was a Presbyterian minister. | "Now Gordon Brown was raised in a Presbyterian manse, his father was a Presbyterian minister. |
"So Gordon Brown understands what moral and ethical obligations are. | "So Gordon Brown understands what moral and ethical obligations are. |
"It may be that there is no technical legal obligation to help the mutual society but we believe that there is a moral obligation to help the mutual society." | "It may be that there is no technical legal obligation to help the mutual society but we believe that there is a moral obligation to help the mutual society." |
Earlier this month, the PMS administrator, Arthur Boyd, wrote to 9,500 investors recommending that they accept a proposal, which he said would give them some of their money back. | |
He recommended an "orderly run down" of its business over time. | |
If this plan is to go ahead, more than 50% of investors must vote to back it by the deadline of noon on Friday. |
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