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HBOS should reimburse savers in European Home Retail's Farepak - UK MPs.
(From AFX Europe (Focus))
LONDON (AFX) - MPs led by Labour's Frank Field have called on HBOS PLC to refund monies owed to savers in European Home Retail PLC's hampers unit Farepak Food & Gifts Ltd.
Field has tabled an Early Day Motion (EDM) attacking the "pivotal role played in the collapse of Farepak".
He said the collapse "blights the Christmas of half a million decent people, many of whom have been saving since January", adding that HBOS took 1 mln stg a week from Farepak customers to offset the company's overdraft.
EHR went into administration on Oct 13 after its bankers rejected rescue proposals. It warned it did not anticipate there …
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