Liz McInnes – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Liz McInnes on 2016-03-07.

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.

Harriett Baldwin

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.