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Business

New Steering Committee for HQ Bank?

Published tisdag 28 september 2010 kl 10.58

Share holders of the Swedish HQ Bank now in liquidation are holding an emergency meeting to choose a new steering committee – to try to cover as much of the losses as possible.

The bank's shares plunged in value after inspectors exactly one month ago withdrew permission for banking activities after noting that transactions losses were too great and lacked sufficient supervision.

The new committee will have to decide if there are possibilities to claim damages from earlier owners, if bonuses and other benefits were improperly paid out and whether to take expensive and time-consuming steps to check if there are other possible holdings.

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