The Co-operative Bank has confirmed that it is in advanced talks with existing investors about a possible rescue, amid reports that the Co-operative Group is concerned about a mooted £200m pension deal.
That leaves the United States hedge funds that own 80% of the bank, Blue Mountain Capital Management, Cyrus Capital Partners, GoldenTree Asset Management and Silver Point, to structure a rescue.
An agreement over the pensions arrangement is necessary for approval of the remainder of the USA hedge funds' rescue plan for the Co-Op Bank.
One dead, 10 injured in London after vehicle hits pedestrians
Eyewitness Abdulraman Aidroos told Anadolu Agency that the "white British man" had shouted "I am going to kill Muslims". Sunday ET) to the scene on Seven Sisters Road in Finsbury Park neighborhood, home to many immigrants.
The lender added that discussions are also ongoing regarding the separation of the Co-op Group pension scheme, which would clear the path for a takeover.
"The bank notes recent media speculation and confirms that it is in advanced discussions with a group of existing investors with a view to a prospective equity capital raise and liability management exercise", the lender said.
Meanwhile, the bank said that as well as exploring potential recapitalisation it was also proceeding with its sale process.
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He also praised their colleagues for saving the USS Fitzgerald from further damage and taking it back to port. Navy has identified the seven sailors killed Saturday in a ship collision, and one of them is a Texas native.
When it offered itself for sale, the Co-op Bank blamed low interest rates and the higher-than-expected cost of its turnaround plan for its failure to meet the Bank's Prudential Regulation Authority (PRA) rules.
In April Co-op Group declared its 20% share of the lender worthless by writing down its entire value to zero, even though it continued discussions with other investors to save the business.
Sources said that the Co-operative Group, which now owns a 20 per cent stake in the bank, was demanding a more robust financial package to protect the 90,000 members of their joint retirement scheme.
Van plows into Muslim worshippers in London, killing one
Police said eight of the injured were hospitalized; the other two had minor injuries and were treated at the scene. A van struck several worshippers leaving the Finsbury Park mosque early Monday morning after Ramadan prayers.
Since failing the Bank of England's stress test in 2014, Co-op bank has been closely watched by regulators while it tries to restore its capital to an acceptable level.
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