Article 3537W Lloyds shareholders' court case over HBOS takeover set to begin

Lloyds shareholders' court case over HBOS takeover set to begin

by
Jill Treanor
from Economics | The Guardian on (#3537W)

High court may ask five former Lloyds directors to explain circumstances of rescue at height of financial crisis

A 600m case is due to begin in the high court this week which is expected to lead to five former directors of Lloyds Banking Group being asked to explain the circumstances that led to the rescue of HBOS during the height of the financial crisis.

The bank's former chair Sir Victor Blank and former chief executive Eric Daniels are among those named in the case brought by Lloyds shareholders who argue they would not have voted through the takeover of HBOS if they had been given the true picture of its financial health.

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