Home News 'Secret' HBOS Dossier Claims

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Latest Headlines

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...

News

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'Secret' HBOS Dossier Claims PDF Print E-mail
Sunday, 01 March 2009 17:33

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.


The Treasury document was submitted in evidence during the unsuccessful legal challenge in December and January by opponents of the merger.

The Merger Action Group fighting the decision to waive competition law to allow the merger to go through took its case to a two-day hearing in London of the Competition Appeal Tribunal, but lost.

It believes the Treasury document, which was not made public, set out why Prime Minister Gordon Brown and Chancellor Alistair Darling thought the takeover was the only option. The group also believes that copies of the document have been destroyed.

Mr Cable's parliamentary question asks if the original still exists, and if so whether Mr Darling will now reveal its contents.

He said: "There appears to be a lot of murky dealings surrounding the Lloyds TSB takeover of HBOS, involving the Government and the Lloyds board. It is important, both for taxpayers and shareholders, that we have more transparency about what actually went on when the takeover was being pushed through by the Government.

"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 and that is why I am asking for this document, which was a key element of the Government's case, now to be made public."

MAG spokesman Malcolm Fraser, an Edinburgh architect, said: "The secret dossier was clearly central to the Government's case for riding roughshod over competition law. Now that the takeover has gone through and the extent of HBOS's financial losses are now known publicly, why should the contents of the dossier remain secret? If it is no longer in existence, why not? What is the Government hiding?"

A spokeswoman for the Department for Business, Enterprise and Regulatory Reform said: "We've kept all the records that informed the Secretary of State's decision."

 

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