Co-op trustees bid for £50m from bank bondholders

James Phillips
clock • 1 min read

Trustees of the £10bn Co-operative pension fund are demanding £50m to split the scheme and enable a deal to rescue the struggling bank, according to reports.

If paid, the trustees would allow the Co-operative Bank to walk away from the Pace scheme, with obligations then segregated between the bank and the wider group, Sky News has reported. The trust...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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