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Sir Peter Burt attacks HBOS board

Sir Peter Burt, one of the Scottish white knights for HBOS, has launched an astonishing attack on the current HBOS management suggesting that not only are shareholders being shortchanged but taxpayers may also receive a minimum return on their investment. As the pressure mounts on the HBOS management there is speculation that the Lloyds TSB offer will in some way laps and place further pressure upon the HBOS operation.

This saga has gone on for some time now with very little comment from the government about how and when any new interest would be considered, although the Scottish government has been very vocal in its criticism of the current setup. Even though the bank is potentially at risk nobody at this moment in time is sure how and when the situation will be resolved and there is some confusion as to who is exactly funding the bank as this moment in time.

As we have covered on a number of occasions the situation should come to a head over the next 3 to 4 months which is the timescale for the Lloyds TSB merger to go through. It seems as though the 20,000 Scottish jobs at stake are very much behind the renewed interest from Scottish entrepreneurs.

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