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Petition seeks help for Presbyterian Mutual

Society - Not granted meeting with Gordon Brown
Society - Not granted meeting with Gordon Brown

A petition is to be presented in the British House of Commons calling for government help for nearly 10,000 investors who have lost millions of pounds in the collapse of the Belfast-based Presbyterian Mutual Society.

Presbyterian moderator Dr Donald Patton will hand over the document containing 28,000 signatures to the DUP MP Jeffrey Donaldson, who will present it to parliament.

Dr Patton wrote to British Prime Minister Gordon Brown in January urging him to help, saying that it was his insistence that money in banks was guaranteed by the British government which led to the run on the funds of the society as members sought a safe home for their cash.

He said Mr Brown had a moral duty to provide similar guarantees for society members as he had been the cause of their problems.

Mr Patton has received a reply from Mr Brown and not been granted his request for a face-to-face meeting.

But he said Mr Brown had assured him he was aware of the difficulties faced by investors in the society, sympathised with their plight and would continue to monitor developments as matters progress.