Allen & Overy (A&O) has defended its roles acting for both the Co-operative Group and the Co-operative Bank on the latter's £1.5bn debt restructuring, after partners at rival firms raised questions over a potential conflict of interest. Concerns have been raised over possible disagreements between the Co-op Bank and Co-op Group - which wholly owns the bank - if the high-stakes capital raising plan encounters complications.
July 24, 2013 at 05:11 AM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) has defended its roles acting for both the Co-operative Group and the Co-operative Bank on the latter’s £1.5bn debt restructuring, after partners at rival firms raised questions over a potential conflict of interest.
Concerns have been raised over possible disagreements between the Co-op Bank and Co-op Group – which wholly owns the bank – if the high-stakes capital raising plan encounters complications.
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