View more on these topics

Resolution denied access to B&B books

Resolution has revealed that Bradford & Bingley has denied it access to its books to conduct due diligence.

Clive Cowdery’s investment company made a £400m bid to acquire a controlling stake in the bank as part of a £2bn consolidation drive to bring together smaller banks and lenders.

The B&B board publicly rejected the bid on Tuesday with a stock market announcement asserting that it continues to recommend proposals for a rights issue and the sale of a 23 per cent stake in the bank to Texas Pacific Group.

Resolution says it met with the B&B board yesterday and was denied access for due diligence.

The company says it has had detailed discussions with the Financial Services Authority and believes its bid would have met with regulatory approval.

Recommended

Kilminster loses £190k court case

A former client of Kilminster Financial Management has won £190,000 in a court case against the network for neglect of his occupational pension scheme.The news could be a blow to creditors of KFM, including ex-advisers and shareholders. A creditors’ meeting is scheduled for July 16 to appoint a liquidator for the firm.David Reid had set […]

Hornbuckle Mitchell sale could raise £40m

Sipp provider Hornbuckle Mitchell has put itself up for sale and appointed Ernst & Young to deal with offers from potential buyers.Hornbuckle employs 170 staff and administers 8,500 pension schemes with a total asset value of over £2bn. Its accounts for the year ending December 2007 show profits of more than £1m.Sipp specialist Suffolk Life […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com