Results tagged “administration” from Journal Live - Blog Central
The inevitable finally came true on Friday as Portsmouth went into administration following months of speculation. One has to wonder if this will be isolated incident at the top level or if more will follow.
Did the Bank of England want to put Northern Rock out of business.
A letter written by former Rock boss Adam Applegarth appears to suggest adminstration was being actively considered by the Bank of England - and that suspicion is strongly felt by Newcastle Central MP Jim Cousins.
The note was written to the central bank in September 2007 as the Rock recoiled from the run on its branches.
But Mr Applegarth issued a doomsday scenario if the Bank of England tried to take the Rock out of business.