Bradford and Bingley

(asked on 7th March 2016) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate he has made of the financial loss to investors as a consequence of the collapse of the former Bradford and Bingley Building Society/Bank in 2008.


Answered by
Harriett Baldwin Portrait
Harriett Baldwin
This question was answered on 10th March 2016

In 2009 Peter Clokey of PricewaterhouseCoopers LLP was appointed as an independent valuer to consider whether shareholders and holders of rights associated with dated subordinated notes were entitled to compensation after the collapse of Bradford & Bingley. On 5 July 2010 he published his report setting out his determination that no compensation is due to former shareholders and bondholders. The case was referred to the Upper Tribunal who upheld the decision in 2012 and concluded that the valuer carried out his valuation function wholly in accordance with the Compensation Scheme.

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