Vince Cable writes to HBOS about Farepak
Friday 29 June 2012
Vince Cable, the Business Secretary, yesterday wrote to HBOS about the state-backed bank's role in the demise of Christmas hampers business Farepak.
In the firm's dying days, HBOS forced directors to take £10m from customers, despite knowing that the company was heading for insolvency.
Last month, a High Court judge partly blamed HBOS's "hardball" attitude for Farepak's collapse and asked it to return up to £10m more to victims.
Mr Cable said: "I have written to HBOS to seek their views on the statement of the judge".
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