Lovells has advised financial services company Resolution on its attempt to wrest control of troubled UK lender Bradford & Bingley (B&B) via a proposed £400m cash injection. Under the terms of the proposal by Resolution - which together with founder Colin Cowdery owns around 20% of B&B - the lender would scrap plans for a £300m rights issue and a proposed cash injection from US private equity group TPG.
June 24, 2008 at 09:47 AM
1 minute read
The original version of this story was published on Legalweek
Lovells has advised financial services company Resolution on its attempt to wrest control of troubled UK lender Bradford & Bingley (B&B) via a proposed £400m cash injection.
Under the terms of the proposal by Resolution – which together with founder Colin Cowdery owns around 20% of B&B – the lender would scrap plans for a £300m rights issue and a proposed cash injection from US private equity group TPG.
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