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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 »

Lloyds sues RBS for £420m over ‘misleading’ rights issue

Image: BBC

By Ian Fraser Published: The Herald Date: 21 May 2014 In an unprecedented clash between two of the UK’s biggest banks, Lloyds Banking Group is suing government owned Royal Bank of Scotland over its “misleading” £12 billion rights issue. In what is seen as the first American-style class action to hit the English courts Lloyds – […]

May 21st, 2014 | Posted in Article Library | Read More »

Lloyds hopes, if it stonewalls long enough, customers BoS fleeced will give up or die


April 24th, 2014 Here is Nick Wallis and Laura Ansell’s first class investigative documentary for BBC South about Lloyds Banking Group’s despicable treatment of customers who allege they were cheated and swindled out of millions of pounds by HBOS, for which I was interviewed. Lloyds, led since March 2011 by chief executive António Horta-Osório, remains […]

April 24th, 2014 | Posted in Blog | Read More »

EADS chief executive Robin Southwell drawn into a hornet’s nest

Robin Southwell

December 20th, 2013 In June and August 2010 I reported on the business relationship between the EADS (UK) chief executive Robin Southwell (pictured right) and David Mills — a “business turnaround” specialist and former NatWest banker who was charged with conspiracy to corrupt, fraudulent trading and money laundering on 8 January 2013. The charges followed […]

December 20th, 2013 | Posted in Blog | Read More »

The Business Herald 2013 Review – Professional Services

Painting: Ed Kluz via AllThingsConsidered

By Ian Fraser Published: The Business Herald Date: 11 December 2013 Two of the biggest developments in Scottish professional services in the past year came when global firms set up large “back offices” in Glasgow, both with generous government grants. In April 2013, the accountants KPMG said it would establish “tax centre of excellence” on […]

December 11th, 2013 | Posted in Article Library | Read More »

Gavin Masterton and the riddle of Charlotte 18

Gavin Masterton

September 17th, 2013 (updated with minor edits September 24th, 2013) Charlotte Eighteen, a shadowy company based in the tax secrecy jurisdiction of the British Virgin Islands, remains the subject of intense interest among Scottish football fans. Allegedly the holding company for the business assets of Gavin Masterton, the former treasurer and managing director of the […]

September 17th, 2013 | Posted in Blog | Read More »

Disgraced former HBOS boss Andy Hornby gives Channel 4 News the cold shoulder

Andy Hornby

April 15th, 2013 Ten days ago the former bosses of HBOS were accused of a “colossal failure of management” by the Parliamentary Commission on Banking Standards. Today Channel 4 News’s business correspondent Siobhan Kennedy tried to catch up with the bank’s former chief executive, Andy Hornby. Now chief executive of the betting chain Gala Coral, […]

April 15th, 2013 | Posted in Blog | Read More »

Highland result suggests RBS bankers no longer above the law

RBS sign

April 13th, 2013 Finally, we have evidence that banks and bankers are not above the law in the United Kingdom. It seems the courts have finally woken up to the fact that allowing them to lie, cheat, deceive and defraud without legal impediment may not be a particularly good idea. As such, yesterday’s appeal court […]

April 13th, 2013 | Posted in Blog | Read More »

Salmond’s £1.7 million bung to KPMG is a kick in the teeth for taxpayers

Alex Salmond Retains His Post As First Minister And Creates Scotland's First Majority Government

April 11th, 2013 Yesterday, the government of first minister Alex Salmond gave a £1.7 million Regional Selective Assistance grant to the ‘Big Four’ accountancy firm KPMG to establish a tax avoidance centre in Glasgow. To me this is an astonishing waste of public money, a kick in the teeth to ordinary taxpayers, detrimental to the long-term […]

April 11th, 2013 | Posted in Blog | Read More »

Cummings–losing touch with reality?

Peter Cummings

December 15th, 2012 In his testimony to the Parliamentary Commission on Banking Standards taken, taken in private in his Dumbartonshire bungalow on November 27th, the former HBOS corporate chief executive Peter Cummings railed against the FSA and criticised his boardroom colleagues but seemed to be as much in denial as ever. There was no contrition, no […]

December 15th, 2012 | Posted in Blog | Read More »

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