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Co-Operative Bank Takeover

EDM number 676 in 2013-14, proposed by George Galloway on 05/11/2013.
Categorised under the topics of Financial institutions and Financial services.

That this House deplores the capture of the Co-operative Bank by rapacious US hedge funds; notes that the bank has mutural, ethical and collective principles which are at odds with the motives in this capitalist takeover; points out that the collapse of the Bank was caused by the catastrophic business judgements of the previous management; further notes that it is the workforce which is now paying for these disastrous errors; and calls on the Secretary of State for Business, Innovation and Skills to exercise his powers under section 76 of the Companies Act to require the bank's new board to outline a plan to return the Co-operative to more democratic control within a fixed timescale.

This motion has been signed by a total of 9 MPs.

MPDateConstituencyPartyType
George Galloway05/11/2013Bradford WestRespectProposed
Ronnie Campbell06/11/2013Blyth ValleyLabourSeconded
Jeremy Corbyn07/11/2013Islington NorthLabourSeconded
Kelvin Hopkins07/11/2013Luton NorthLabourSeconded
Jim McGovern08/11/2013Dundee WestLabourSeconded
Paul Flynn08/11/2013Newport WestLabourSeconded
John McDonnell11/11/2013Hayes and HarlingtonLabourSigned
Alasdair McDonnell12/11/2013Belfast SouthSocial Democratic and Labour PartySigned
Alan Meale18/11/2013MansfieldLabourSigned

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