MPs have launched an inquiry into the failed sale of 600 Lloyds Banking Group branches to the Co-Operative bank.On Tuesday June 18th, the chief executive and chairman of Lloyds, Antonio Horta-Osorio and Sir Winfried Bischoff, will be required to give evidence on the matter to the Treasury Committee.The committee's chairman, Andrew Tyrie, said: "We will want to know how the Co-operative Bank’s bid was allowed to progress to such an advanced stage, why it collapsed and what will now happen to these branches and their customers."In April, it was announced that the Co-Op bank would not be buying the branches, dashing government hopes that it would become more competitive in the retail banking sector. The bank blamed tougher banking regulations and the poor economic outlook for its decision to pull out of the deal.Shortly after the sale fell through, the Co-Op's credit rating fell to 'junk' status as credit agency Moody's said the bank was at risk of losses due to its loan portfolio.Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated
claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr
Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233,
whose head office at Unit 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ
and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.
Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.
Please note that calls may be monitored for the purposes
of staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are
no upfront costs to pay. Our fee only becomes payable on a successful outcome of
a claim. A cancellation fee is payable if you decide that having instructed Belmont
Thornton to act on your behalf, and after 14 days of signing your Letter of Authority,
you do not wish to continue pursuing your claim with us. The cancellation fee is
the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described