Lifemark rescue revived as N&P hunts value in bonds

The building society has set aside £57m to pay compensation to all 3,200 customers to whom it sold Lifemark-backed Keydata products, in return for ownership of their rights in the investment. N&P will also scoop up any bonds held by the FSCS as the building society repays compensation the scheme has already paid out. The FSCS requires investors sign over their rights in exchange for redress.   Once it owns the rights, N&P says it will try to get a return on the millions of pounds it will have lost, giving it a keen interest in re-entering ongoing negotiations about Lifemark’s rescue. ...