Dunfermline Building Society | |
The European Commission has officially endorsed the UK Government's rescue plan to prevent Dunfermline Building Society from total collapse. Swift government action meant that thousands of borrowers, savers and staff members of the Society were protected. The restructuring of the Society involved splitting the institution into two parts - one containing the good quality assets and liabilities (which were sold to a competitor) and the impaired commercial loan assets which were put into administration. Gordon Brown and Alisdair Darling took action in March 2009 - a move which prevented the complete loss of the Dunfermline brand, one of Scotland's oldest financial institutions. For more information on the Commission's approval, please click on the link below: | |
