Latest update: 5 July 2010
Hello, I'm Peter Clokey.
I was appointed in June 2009 to assess the amount of compensation, if any, that is payable by HM Treasury under the Bradford & Bingley plc Compensation Scheme. I have now issued my Assessment Notices under paragraph 10 of the schedule to The Bradford & Bingley Compensation Scheme Order 2008 in respect of shares and subscription rights. I have also issued a similar notice in respect of rights associated with dated subordinated notes.
I am not aware of any other parties or rights that fall within the scope of the Compensation Scheme and accordingly I do not anticipate issuing further Assessment Notices.
Over the last year I have met with many parties to gather perspectives and information that might be relevant to my determination. These parties have included the current and former executives of Bradford & Bingley, the Bank of England, HM Treasury, the Financial Services Authority, the Financial Services Compensation Scheme and various advisers of relevant parties. I have also been contacted by many individuals and groups who have raised issues and concerns with me. In reaching my conclusions I have considered carefully all of the evidence and arguments that have been made available to me.
Copies of the Assessment Notice that I have issued in respect of shares and subscription rights are being sent to shareholders, or their nominees. My Assessment Notice in respect of rights associated with dated subordinated debt can be requested by affected parties. You will find copies of the Assessment Notices in the downloads section of this site.
If you are affected by one of my Assessment Notices and are dissatisfied with the outcome, you may require me to reconsider my determination. To do so you must submit your request for reconsideration (together with any reasons for your request and supporting evidence that you wish me to consider) by Friday 27 August 2010. My address is: PricewaterhouseCoopers LLP, 1 Embankment Place, London WC2N 6RH. I will then consider all such requests and issue a Revised Assessment Notice, which will explain whether I have upheld or varied my Assessment Notice.
Finally, I would like to thank everyone who has assisted me in my task.
