“to maximise the return of money to members..”

Will Crawley has some interesting detail on the relationship between the Presbyterian Mutual Society (PMS) and the Presbyterian Church. And with no apparent answer from the Prime Minister, despite the letter of encouragement from the Presbyterian Moderator, the BBC notes that PMS have taken that newly-legislated administrative option. From the BBC report.

“My aim is to see if the society can be rescued or, if this is not possible, to ensure that the society is wound down in an orderly manner to maximise the return of money to members,” [appointed administrator Arthur Boyd] said.

“I cannot at this stage say whether members’ funds can be returned to them in full or what proportion of their funds can be returned. The society has considerable assets, but if those assets were sold now it might not produce the best return for members.”

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