Some PMS savers to get something (but not a lot)

The PMS savers seem set to get some money. Well actually 12% of their original investment and only for those with over £20,000 in the savings scheme. In addition a creditors committee is to be set up. The News Letter is reporting the reaction of various local politicians:

Ulster Unionist MLA for North Down, Leslie Cree, said the small
savers have been “entirely left behind”.

“The fact that only ‘some’ people will receive help is entirely unacceptable.”

DUP MP William McCrea, who has secured parliamentary time to debate the situation affecting PMS in Parliament today, said: “To those who have a large amount of money in the PMS this (payment) will provide a crumb of comfort. However this provides absolutely no relief for smaller savers with less than £20,000 in the society.
“The DUP will continue to work towards a resolution that will see money paid to all savers both large and small.”

Traditional Unionist Voice leader Jim Allister said the payout “will be cold comfort to the many PMS savers who have lost thousands”.
“It is, however, also important to remember that the smallest investors who may have the greatest need – those who had under £20,000 invested in the society – have not even received this paltry sum (of 12p in the pound),”
he said, adding that the delay in resolving the PMS “is
appalling”
.

The necessary Pontius Pilate like hand washing (and wringing) response from the PCI is awaited.

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