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Portman decision on carpetbaggers

Carpetbagger target Portman Building Society is set to announce whether conversion resolutions forwarded by anti-mutual parties are valid this week.


Both Portman, Skipton and Chelsea Building Societies are being targeted by website organisers carpetbaggers.com who are campaigning to convert the societies into banks.


But Skipton and Chelsea are not expected to make announcements on their conversion resolutions before Christmas. Both are currently seeking legal advice on whether the resolutions are valid.


A spokesperson for Portman says: “We are just as keen as people who put the resolution to us to resolve these matters. But the real issue is that we cannot afford to take the wrong decision.”


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