State aid to help the liquidation of Bradford & Bingley would not break competition rules, the European Commission has ruled.
Government plans for the liquidation of Bradford & Bingley (B&B), and the restructuring of Dunfermline Building Society, has been approved by European Commission Competition Commissioner Neelie Kroes. The liquidation plans will ensure an orderly winding down of B&B while maintaining financial stability, the European Commission (EC) says. Support measures approved by the EC included a working capital facility and guarantee arrangements to ensure units of the bank earmarked for liquidation are closed in an orderly fashion. As the lender is no longer active apart from serving its exi...
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