Show us the 'secret dossier' on HBOS takeover, demands Cable

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Lloyds sued for 100 million pounds and injuction to stop HBOS takover

LLoyds TSB defrauding the public by not lending to business in the UK,

Decision

Over to the HBOS small shareholders

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News

02.03.09
From MAG NEWS

Although the Competition Appeals Tribunal ruled against us, the issues raised by our case continue to resonate, particularly given subsequent events and disclosures.
Read more...
02.03.09
By Carolyn Churchill
Read this article on TheHerald.co.uk

The UK Government is coming under increased pressure to publish a "secret dossier" which is alleged to contain information relating to Lloyds TSB's takeover of Halifax Bank of Scotland.
Read more...
02.03.09
From Editorial Comment
Read this article on TheHerald.co.uk

A lack of confidence has undermined the Government's efforts to kickstart the ailing economy and has perhaps manifested itself most corrosively in the failure of the banks to fill the lending void left by the withdrawal of foreign financial institutions.
Read more...
01.03.09
From Daily Express Online
Read this article on Express.co.uk

The Treasury has been challenged to explain an alleged secret dossier at the heart of the Lloyds takeover of Halifax Bank of Scotland.
The call came from Liberal Democrat deputy leader Vince Cable, who has tabled a parliamentary question asking if the dossier still exists, and if its contents can now be revealed.
Read more...
28.02.09
By Tom Peterkin
Read this article on Scotsman.com

THE Liberal Democrat deputy leader Vince Cable is demanding the release of a "secret dossier" which the Government used to help push through the controversial Lloyds TSB takeover of HBOS.
Read more...
12.12.08
By Brian Taylor
Read the article on BBC.co.uk

Three hundred years of Scottish financial history brought to a stammering close in a Birmingham convention centre.

Read more...
12.12.08
By Jill Treanor
Read the article on Guardian.co.uk

HBOS lost a fifth of its value on the stockmarket today, and other bank shares suffered heavy losses, as it revealed it had suffered a dramatic rise in bad debts over recent weeks.

Read more...
12.12.08
From DailyRecord.co.uk
Read the full article

HBOS SHAREHOLDERS overwhelmingly approved the bank's controversial takeover by rival Lloyds TSB and an £11.5 billion funding boost from the taxpayer.
Based on votes cast before the meeting, the moves were supported by an 84% majority of individual shareholders, and 98% by the value of shares voted.

Read more...
11.12.08
From MAG NEWS

The Merger Action Group said today [Thurs] it felt it had done all it practically could to highlight the widespread public concern over the Government's decision to waive competition law to push through the takeover of HBOS by Lloyds TSB.
Read more...
10.12.08
From MAG NEWS

The Merger Action Group tonight [Wed] said it was disappointed to lose its legal challenge against the Government’s decision to ignore competition law to push through the Lloyds TSB’s proposed takeover of HBOS.
Read more...

RSS (BBC / Scotsman)

Who's who: Cameron's government 3 Jun 2010 | 4:24 pm
Cowden committed to Central Park 19 May 2010 | 8:51 pm
New schools merger idea rejected 12 Aug 2009 | 6:55 pm
School shake-up notice published 20 Mar 2009 | 3:57 pm
Challenge to HBOS deal rejected 10 Dec 2008 | 5:14 pm

NEWSFLASH

MAG - Issues Raised

Demand for release of secret HBOS documents

The Flow Of Money

'Secret' HBOS Dossier Claims

Show us the 'secret dossier' on HBOS takeover, dem...

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Show us the 'secret dossier' on HBOS takeover, demands Cable

Saturday, 28 February 2009 18:56

By Tom Peterkin

Read this article on Scotsman.com

THE Liberal Democrat deputy leader Vince Cable is demanding the release of a "secret dossier" which the Government used to help push through the controversial Lloyds TSB takeover of HBOS.

The confidential Treasury document was submitted in evidence during the legal challenge against Business Secretary Lord Mandelson's decision to waive competition law to allow the takeover to go ahead.

It is thought to set out why Gordon Brown and Chancellor Alistair Darling claimed the takeover was the only option to sustain financial stability during the height of the banking crisis.

Since then, it has emerged that the Financial Services Authority believed there was a viable alternative which would have seen HBOS retain its independence as a Scottish institution.

Cable, the Lib Dem financial spokesman, has tabled a parliamentary question with the Treasury demanding to know whether the original document still exists and, if so, whether the Chancellor will make it public.

"There appears to be a lot of murky dealings surrounding the Lloyds TSB takeover of HBOS, involving the Government and the Lloyds board," said Cable. "It is important, both for taxpayers and shareholders, that we have more transparency about what actually went on. Now that the takeover has gone through and we know the extent of HBOS's losses there would seem to be no longer any need for secrecy."

Cable is also demanding to know what advice Lord Mandelson got from the FSA on the merger and what alternatives were considered.

The dossier was a key feature of the Competition Appeal Tribunal hearing in December, in which business figures unsuccessfully challenged the legality of Mandelson's decision to set aside competition rules, against the advice of the Office of Fair Trading.

The Department of Business confirmed that the dossier still existed – but Government sources indicated it would not be made public if there were issues of commercial confidentiality.

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