Overlooked HBOS board to demand payouts - papers

The boardroom named by Lloyds yesterday shunned every member of the HBOS board, and could force contractual payments to departing executives. Eric Daniels, Lloyds TSB chief executive, will take the same role in the combined bank. He made it clear that interviews had been held from both sets of executives. "We can't have a Noah's Ark structure of two by two," he said. Lloyds' announcement is the clearest indication yet it is determined to press on with the deal, brokered by Gordon Brown when HBOS appeared on the brink of collapse in September. There was also speculation yesterday that Lord...