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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
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/30/201413:43:20Royal Bank of Scotland Raises GBP85 Million in Share Issue
09/30/201413:04:21LONDON MARKETS: Balmy London Weather Hampers Sales Of Retailer...
09/30/201412:51:34EUROPE MARKETS: European Stocks Build On Gains After Inflation...
09/30/201407:59:14LONDON MARKETS: Next Drops In London As Warm Weather Hurts Sales
09/30/201405:09:36EUROPE MARKETS: European Stocks Edge Higher Ahead Of Inflation...
09/30/201404:50:07Looming Inflation Data Cap Gains in Europe
09/30/201404:32:23European Stocks Edge Higher Ahead of Inflation Data
09/30/201402:53:06RBS Says Full-Year Impairments to Beat Guidance
09/26/201420:04:31ADR Shares End Higher; Petrobras Shares Trade Actively
09/26/201412:20:11LONDON MARKETS: Bank Stocks Lift FTSE 100; Sports Direct Drops
09/25/201410:00:11LONDON MARKETS: FTSE 100 Slips After Carney Hints Rate Hike Looms
09/25/201409:45:20U.S. Hot Stocks: Hot Stocks to Watch
09/25/201408:15:50LONDON MARKETS: FTSE 100 Wavers Ahead Of Carney Speech
09/25/201407:47:27EUROPE MARKETS: H&M Slides; Telecom Italia Rises: Europe's Big...
09/25/201405:31:15EUROPE MARKETS: H&M Slides; Air France Rises: Europe's Big Stock...
09/25/201405:00:12GSK Names RBS's Philip Hampton as Chairman
09/25/201404:31:34LONDON MARKETS: Direct Line Leads FTSE Higher For Second Day
09/25/201403:57:32GlaxoSmithKline Names RBS's Philip Hampton as Chairman
09/24/201411:10:38GSK to Name Philip Hampton as Next Chairman -Sky News

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