The Telegraph warns Co-op Bank 'retail' bondholders with 11% coupon bonds maturing in 2023 that they need to apply now to get compensation for losses in the restructuring deal.
Ordinary customers with deposits or savings at the bank are not affected.
Coop News discusses whether the Co-op Bank should keep its name and SaveOurBank offers its view.
Following its acceptance of the restructuring proposals offered by a group of Tier 2 note holders and shareholders, the bank has got permission to convene a meeting to approve the proposals.
Bloomberg reports on the attempt by hedge funds to gain full control of the Co-op Bank. The artcle, linked below, includes an enlightening chart showing the owneship stakes of the main shareholders:
The Guardian's Patrick Collinson looks at the sale announcement from a consumer perspective, quoting Shaun Fensom from the Customer Union
FT is behind a paywall. You need a Facebook login to see this article.
Co-operatives UK has issued a statement on the proposed sale.
The Customer Union for Ethical Banking is a member of Co-operatives UK
The board of the Co-op Bank has announced that it is seeking new owners, while also looking at alternative ways of raising capital.
The bank has issued a statement to customers.
They gave us a similar statement:
Message from The Co-operative Bank CEO Liam Coleman
10 November 2016 The Co-op Bank's campaign 'My Money, My Life' campaign, launched in partnership with Refuge, has received industry backing for a 'Code of Practice. The code would provide a framework for banks to support victims of financial abuse.
Details in the press releas below.
