Northern Rock Board Proposes Restructuring Plan
British capital — The plank of Northern Rock articulated Monday that it’s subjected a proposal of marriage for a standalone resolution for reconstituting the banking concern to U.K. regime. The proposal of marriage would combine a new fairness raising of at least 500 000 000 pounds, a diminution in plus and a shakeup of the bank’s trading operations. Earlier Virgin Group subjected its own marriage offer, while Olivant Advisors expressed it wouldn’t suggest a programme.