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UK Banks Face Losses On GBP112 Million Of Debts To Luminar - Newspaper

LONDON--Lloyds Banking Group (LYG), Royal Bank of Scotland Group PLC (RBS) and Barclays PLC (BCS) are set to make "significant" losses on aggregate debt of GBP112 million to Luminar PLC which collapsed into administration last year, the Daily Telegraph reports Tuesday. The creditors pulled the plug on the nightclub operator after it racked up losses of almost GBP200 million and was hit by a surge in youth unemployment, the paper adds. In a report filed at Companies House, the company's administrators Ernst & Young said that "it is still estimated that secured creditors [the banks] will experience a significant shortfall following distribution of the net fixed and floating charge realisations from the administration," the paper reports. In the report the administrator said the three banks were owed GBP112.4 million between them. Newspaper website: http://www.telegraph.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

Stock News for Royal Bank of Scotland Grp. (RBS)
DateTimeHeadline
06/23/201510:06:17RBS to Return Any Surplus Capital to Shareholders over Coming...
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06/10/201516:40:25Britain to Begin Selling RBS Shares
06/10/201516:38:19George Osborne Says British Government to Begin Selling RBS Shares...
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06/04/201510:50:14Lawmakers Seek Review of Banks' Waiver Requests
06/04/201510:38:31Lawmakers Ask Labor Secretary to 'Thoroughly Review' Waiver Requests...
05/26/201513:57:29Royal Bank of Scotland Sells Irish Real Estate Loans for GBP205...
05/20/201519:01:29ADRs End Mixed; Bank Shares Rise
05/20/201513:19:26Banks to Pay $5.6 Billion in Penalties in FX, Libor Probe...
05/20/201511:00:01Banks to Pay $5.6 Billion in Penalties in FX, Libor Probe
05/20/201510:53:09Banks to Pay $5.6 Billion in Penalties in FX, Libor Probe...
05/20/201510:29:57Global Banks to Pay $5.6 Billion in Penalties in FX, Libor Probe

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