Pimco and Davidson Kempner take final slice of UKAR assets

Northern Rock 230x150
By Tom Brown
01 Mar 2021

UK Asset Resolution has sold the last of its mortgages to Pimco and Davidson Kempner (DK) and the legal holding companies of Northern Rock and Bradford & Bingley, ending the UK government’s involvement in the crisis-stricken lenders and closing the book on the 2008 bail-outs.

“This sale brings to a close the government’s ownership of B&B and Northern Rock Asset Management [NRAM], including their loans, with the taxpayer fully repaid and the legal and regulatory responsibility for the operating companies returned to the private sector,” said UKAR in an announcement on Friday.

The ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial