You are here: Home - Investing -

Wall Street ‘vulture funds’ take significant Co-op Bank stake

Written by:
Two Wall Street 'vulture funds' have seized control of part of Co-operative Bank's finances, the Sunday Times reports.

The paper said the move had raised fears that the £1.5bn rescue plan for the lender could now be derailed.

Aurelius Capital Management and Silver Point Capital have amassed a controlling stake in one set of the bank’s loans – giving them a “powerful voice” in bailout negotiations.

It is thought the funds could use their position to force higher losses on “thousands of small investors” who are already likely to lose out as a result of the rescue package. The report said the tier 2 bonds bought by the funds outrank the securities of smaller investors.


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
PM rules out tax cut pledge but says ‘economy healing’

David Cameron has refused to rule out future tax rises but says his overall aim is to "give people back...