Written question asked by Liz McInnes (Labour) on Monday, 7 March 2016, in the House of Commons. It was due for an answer on Thursday, 10 March 2016 (named day). It was answered by Harriett Baldwin (Conservative) on Thursday, 10 March 2016 on behalf of the Treasury.

Bradford and Bingley

Question: To ask Mr Chancellor of the Exchequer, what estimate he has made of the financial loss to shareholders as a consequence of the collapse of the former Bradford and Bingley Building Society/Bank in 2008.

Answer: In 2009 Peter Clokey of PricewaterhouseCoopers LLP was appointed as an independent valuer to consider whether shareholders and holders of rights associated with dated subordinated notes were entitled to compensation after the collapse of Bradford & Bingley. On 5 July 2010 he published his report setting out his determination that no compensation is due to former shareholders and bondholders. The case was referred to the Upper Tribunal who upheld the decision in 2012 and concluded that the valuer carried out his valuation function wholly in accordance with the Compensation Scheme.

Secondary information