Presbyterians hit by collapse of mutual society

THOUSANDS of Presbyterians face losing millions of pounds following the collapse of a mutual society, it was revealed yesterday.

Investors in the Belfast-based Presbyterian Mutual Society, which went into administration last November, are being given the stark choice of agreeing to get back some of their money over time — or less if it goes into liquidation.

The worth of the society has plunged by tens of millions, it was revealed.