Bradford and Bingley

Googleblaster

Optimistically I still have paperwork regarding a small balance in a Bradford and Bingley savings account and a small shareholding. Is it worth keeping or should I bin the lot  and pretend it never happened?!

Thrugelmir

Savings accounts were transferred to Abbey National then Santander. 

Frame the share certificate. Unfortunately it has no value except to a collector. 

quirkydeptless

I found 3 lost accounts I had with Santander a few years ago, including B&B and Abbey National.

I sorted this out via a branch visit and although as expected two of them had around a £1, one of them had a 4 figure sum!

The staff were so helpful and communicative on progress at getting this money back to me I wrote a Thank You letter to their Bank Manager.

Steve182

I was actually contacted maybe 8 or 9 years ago by a company specialising in tracing creditors and paying them their dues. I  had moved house just after B & B went bankrupt. They were working on behalf of whoever B & B's administrators or successors were and as a shareholder I recall I received perhaps one or two  hundred pounds from them.

kaMelo

Steve182 said:

I was actually contacted maybe 8 or 9 years ago by a company specialising in tracing creditors and paying them their dues. I  had moved house just after B & B went bankrupt. They were working on behalf of whoever B & B's administrators or successors were and as a shareholder I recall I received perhaps one or two  hundred pounds from them.

You will have received nothing from being a shareholder. Once nationalised the company was "valued" by someone from PwC (who's name I cannot remember now). They determined that without taxpayer cash the company would have fallen into administration. In short the company was insolvent therefore the shares were/are worthless.

IvanOpinion

Not sure if you are aware of this site http://www.bbactiongroup.org/News.htm.
I doubt if they will ever achieve anything though.

Steve182

kaMelo said:

Steve182 said:

I was actually contacted maybe 8 or 9 years ago by a company specialising in tracing creditors and paying them their dues. I  had moved house just after B & B went bankrupt. They were working on behalf of whoever B & B's administrators or successors were and as a shareholder I recall I received perhaps one or two  hundred pounds from them.

You will have received nothing from being a shareholder. Once nationalised the company was "valued" by someone from PwC (who's name I cannot remember now). They determined that without taxpayer cash the company would have fallen into administration. In short the company was insolvent therefore the shares were/are worthless.

I don't think I still have the letter explaining what the payment was for. It definitely mentioned B & B and I'm fairly sure it also mentioned shares. I had a mortgage with them at the time they floated so got free shares which I never sold. The mortgage was fully settled up long before their difficulties, then I moved house some time later. I never had a savings account with them. I simply cannot imagine why else they would have tracked me down to give me money.

kaMelo

IvanOpinion said:

Not sure if you are aware of this site http://www.bbactiongroup.org/News.htm.
I doubt if they will ever achieve anything though.

Yes I'm aware of them however I think they are on a hiding to nothing whilst giving false hope to anyone who believes they have a case.
B&B went bust, shares in an insolvent company are worthless, it's that simple. What muddied the waters is the way RBS and HBOS were treated which contradicts what happened to B&B, Northern Rock etc. and this is what the action group are basing their campaign on. Personally I think RBS and HBOS should have been treated the same way as B&B, allowed to fail and nationalised but that's another debate entirely.

Steve182 said:

kaMelo said:

Steve182 said:

I was actually contacted maybe 8 or 9 years ago by a company specialising in tracing creditors and paying them their dues. I  had moved house just after B & B went bankrupt. They were working on behalf of whoever B & B's administrators or successors were and as a shareholder I recall I received perhaps one or two  hundred pounds from them.

You will have received nothing from being a shareholder. Once nationalised the company was "valued" by someone from PwC (who's name I cannot remember now). They determined that without taxpayer cash the company would have fallen into administration. In short the company was insolvent therefore the shares were/are worthless.

I don't think I still have the letter explaining what the payment was for. It definitely mentioned B & B and I'm fairly sure it also mentioned shares. I had a mortgage with them at the time they floated so got free shares which I never sold. The mortgage was fully settled up long before their difficulties, then I moved house some time later. I never had a savings account with them. I simply cannot imagine why else they would have tracked me down to give me money.

Whatever you got money for it wasn't the shares. I did some digging and found this article which explains. On a side not I also found the name of the man from PwC, Peter Cloakey.
https://www.thisismoney.co.uk/money/investing/article-1697946/Your-Bradford-Bingley-shares-are-worthless.html