Lloyds in talks with management on terms of BoSI wind-down
Lloyds Banking Group today said it has reached agreement with the management team at Bank of Scotland Ireland (BoSI) about setting up the independent company that will handle the wind-down of BoSI's operations here.
The independent service company will be responsible for supporting and administering the BoSI loan book into the future following the announcement in August that BoSI is to close.
Lloyds said it has signed a Heads of Terms commercial agreement with BoSI management which it said was a "significant milestone" in the establishment of the new company.
The bank said it was now in discussions with BoSI management and is presently focused on finalising the working relationship that will apply between the two parties.
Yesterday, workers at BoSI voted overwhelmingly in favour of industrial action over the bank's failure to provide clarity on its winding down plans.
Some 95% of staff - represented by the Unite Trade Union - took the decision.
Unite has 600 members working at BoSI.
