Proceeding contribution from Viscount Eccles (Conservative) in the House of Lords on Monday, 15 December 2008. It occurred during Debates on delegated legislation on Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008.
Kaupthing Singer & Friedlander Limited (Determination of Compensation) Order 2008
I reinforce the question I asked. I understand that there were explorations within the private sector to find a solution; indeed, the solution that was found included a fairly large private sector option to transfer the deposits. But was a public sector solution considered? That is the burden of the argument I was putting forward. We were only 10 days from the bank recapitalisation scheme, which must have been known to the Treasury. In order to get through those 10 days, public sector financial assistance would have secured that Bradford & Bingley could enter the recapitalisation scheme and continue, instead of being brought to a halt.
Secondary information
- Type
- Proceeding contribution
- Reference
- 706 c18GC
- Session
- 2008-09
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Disclosure of information Compensation Assets Banks Nationalisation Shares Shareholders Iceland Landsbanki Bradford and Bingley Kaupthing Singer and Friedlander Heritable Bank Kaupthing Bank
- Legislation
- Bradford and Bingley plc Compensation Scheme Order 2008
- Kaupthing Singer and Friedlander Limited (Determination of Compensation) Order 2008
- Heritable Bank plc (Determination of Compensation) Order 2008
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-04-22 01:50:36 +0100
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