However, at the time of the BoE’s meeting the Government had not made a decision on the winning bid. In return the Treasury would acquire rights to the proceeds of the wind down and realization of B&B’s remaining assets. And, Santander openly boasted in its subsequent annual reports of the significant profits made by the B&B savings book. This avoided the bank taking a bail out from the UK Government. In recent days this November a B&B shareholder and pensioner made a claim against the Tripartite to the Leeds Small Claims Court.

Source: Forbes November 29, 2017 16:49 UTC