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Investor seeks to force accountability at Lloyds Banking Group

14th April 2015 Lloyds Banking Group shareholder Michael Page may be about to force some accountability, and perhaps even a degree of honesty, at the state-rescued bank in which he owns a stake. In doing so Page — whose Guernsey-based aircraft leasing business was left massively out of pocket following the collapse of the scandal-plagued, and HBOS-backed, aviation business, Corporate Jet Services, in […]

April 14th, 2015 | Posted in Blog | Read More »

Banking’s Abu Ghraib

Revised October 3rd, 2010 (minor edits August 18th, 2015) A fourth person has been arrested in relation to Thames Valley Police’s investigation into “corruption and large-scale fraud in connection with HBOS”. [Note: comments on this post have now been disabled and earlier comments from witnesses have been removed as a result of the police investigation […]

October 2nd, 2010 | Posted in Blog | Read More »

Is BGC Partners being entirely honest about its Mint deal?

September 11th, 2010 David Mills, the founder of Core Enterprise Management and Quayside Corporate Services, is a past master of prepackaged administrations and corporate phoenixings. It therefore came as no surprise when I learnt today that a company where Mills was chairman, London-based interdealer broker Mint Partners, went into administration on August 16. Nor that […]

September 11th, 2010 | Posted in Blog | Read More »

Bust air firm may provide key to HBOS controls failures

August 28th, 2010 [Editorial Note: This article was written in June 2010 but has not previously been published in its entirety. An edited version was published in The Sunday Times on June 27th, 2010] Directors of an aviation business that crash landed owing HBOS £113 million in September 2007 were allowed to buy the business back […]

August 28th, 2010 | Posted in Blog | Read More »

The ten firms that are having to do without David Mills

August 27th, 2010 The founder and owner of Quayside Corporate Services — a self-styled turnaround consultancy that was pivotal to the Bank of Scotland Reading scandal — has lately been stepping down from a surprising number of boards. In June David Mills, 53, quit the board of Cardiff-based revolving credit company Clode Group Holdings, as well […]

August 27th, 2010 | Posted in Blog | Read More »

Bust air firm bought for £7

By Ian Fraser Published: The Sunday Times Date: June 27th, 2010 Buy-back deal allows Corporate Jet Service directors to avoid millions of pounds of debt to unsecured creditors Directors of an aviation business that went bust owing HBOS £113m were able to buy it back from the administrators for an initial payment of just seven […]

June 27th, 2010 | Posted in Latest Articles | Read More »

Examining HBOS

November 3rd, 2009 (first published June 9th, 2009) [Note: comments on this post have been disabled and earlier comments from witnesses have been removed as a result of the current Thames Valley Police and Serious Organised Crime Agency investigation and expected trial. Ian Fraser, January 5th, 2011. Minor edits on January 29th, 2012] A recent […]

November 3rd, 2009 | Posted in Blog | Read More »

The stonewalling and crocodile tears must stop. Time for Lloyds to provide answers

May 26th, 2009 Note: Since September 22nd, 2010 this article has been subject to a legal action by Mr Lynden Scourfield Lloyds Banking Group chief executive Eric Daniels may not have known precisely what he was buying with HBOS. But, given today’s revelations about the Bank of Scotland Reading debacle, writes Ian Fraser, the “Quiet […]

May 26th, 2009 | Posted in Blog | Read More »