Joseph Grech (‘Mid-Med workers’ case’, May 28) asked a few pertinent questions in regard to the liquidation, in 1987, of the Mid-Med Bank Staff Pension Fund.

Evidently he did so in view of the recent court judgment (489/1991) which went against the numerous plaintiffs who are former Mid-Med Bank employees.

It is not appropriate for me to comment on the judgment as this may well go to appeal. However, if Grech is a former bank colleague and wishes to have more information, I invite him to contact me (as the bank’s first general manager) on tonyc@onvol.net or else get in touch with the ad hoc committee members (who have been coordinating the plaintiffs’ case) at exmidmed@gmail.com (as per the advert headed ‘Important notice’ that appeared in Times of Malta on May 26).

Meanwhile, in answer to one of Grech’s questions, I can confirm that the fund was indeed liquidated by the bank on December 31, 1987 (after I myself and so many others had resigned) when the balance on the account of the fund (not the bank) with the Central Bank of Malta was around €11.7 million.

There is so much that can be said about how Mid-Med Bank, contrary to the express conditions that were laid down in the notarial deed setting up the fund, took possession – illegally, in my view and in that of many other former bank staff members - of the entire balance; paid some €8.2 million (by way of ‘compensation’) to the staff still employed at the time and utilised €3.4 million, plus €114,170 from the bank’s reserves, to render fully paid the shares (then 100 per cent held by the government and which were only 75 per cent paid-up) ignoring completely a claim that had been made before December 31, 1987 by former Mid-Med Bank employees through the representatives of their union.

The saga continues!