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News and Cases

29.01.11

A new take on mutual society transfers

Malcolm Waters QC acted for Kent Reliance Building Society on the transfer of its business to OneSavings plc, which was confirmed by the FSA on 24 January 2011. A novel feature of the transaction is that it provides for the successor company to remain under the control of a new mutual organisation, while also including provision for capital to support the business to be raised from private equity investors.

Please click here to view Malcolm Waters QC’s profile.