Lloyds was not bullied into buying HBOS, high court hears

Former directors reject claim by bank shareholders that Gordon Brown's government pushed bank into buying HBOS to avoid nationalisation

Lloyds Bank and five of its former directors "emphatically reject" allegations they were bullied into taking over HBOS, their QC has told the high court.

Helen Davies was responding to claims made by 6,000 Lloyds shareholders, who have brought a 600m compensation claim that they were not given a true picture of the financial health of HBOS when they voted through the takeover in November 2008.