Slater Walker

Slater Walker

Slater Walker was a British bank which got into financial difficulties in the 1970s and shook the British banking system at the time.

History

The Company was founded by Jim Slater and Peter Walker, a Tory MP, in 1964 as an authorized bank. It went on to perform what became known as corporate raids on public companies.

At its peak the Company held deposits totalling £95m, managed £250m of funds and looked after 29,000 pensions. [ [http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article573604.ece How Harold Wilson stepped in over Slater Walker debacle] ]

Demise of the business

In 1975 the Company got into financial difficulties. The problems with Slater Walker led to support by the Bank of England. [ [http://www.hm-treasury.gov.uk./about/information/foi_disclosures/2005/foi_slater_walker_2005.cfm The provision of financial assistance to Slater Walker Bank in 1975] ] Following the takeover of the Company by the Bank of England 15 charges were brought against Slater for offences against the Companies Act by the Department of Trade — the misuse of more than £4,000,000 of company funds in share deals. The case was thrown out in 1977.

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Jim Slater — James Derrick Slater (born March 13, 1929) was an accountant for Leyland Motors who became famous for writing an investment column in The Sunday Telegraph under the nom de plume of The Capitalist , where he described his own portfolio. In 1964 he …   Wikipedia

  • Peter Walker, Baron Walker of Worcester — Peter Edward Walker, Baron Walker of Worcester, MBE PC (born 25 March 1932) was Conservative MP for Worcester between March 1961 and April 1992, and the founder of the Tory Reform Group. He was a close ally of Edward Heath, and was dismissed from …   Wikipedia

  • Peter Walker, Baron Walker of Worcester — Peter Edward Walker, Baron Walker of Worcester, MBE, PC (* 25. März 1932 in Middlesex; † 23. Juni 2010) war ein britischer Politiker der Conservative Party. Inhaltsverzeichnis 1 Biografie 1.1 Berufliche Laufbahn und Unterhausabgeordneter …   Deutsch Wikipedia

  • James D. Slater — A renowned investment author in Britain, who wrote a Sunday column in London s The Sunday Telegraph under the pen name The Capitalist . Slater was also a major figure in corporate takeovers, and eventually turned his investment company into an… …   Investment dictionary

  • Kim Walker — Infobox actor name = Kim Walker imagesize = caption = birthname = Kimberly Anne Walker birthdate = birth date|1968|06|19|mf=y location = New York, New York, United States deathdate = death date and age|2001|03|06|1968|06|19|mf=y deathplace = Los… …   Wikipedia

  • Charlie Slater — in 2011 EastEnders character Portrayed by Derek Martin Jason McGregor (flashback) Created by …   Wikipedia

  • Bert Slater — (5 May 1936 in Musselburgh – 21 July 2006 in Brechin) was a professional footballer who played as a goalkeeper.Life and playing careerBorn in Musselburgh, East Lothian, Scotland, Slater started his career as a 17 year old at Falkirk, where he won …   Wikipedia

  • Jackie Slater — Données générales Nom complet Jackie Ray Slater Nationalité  États Unis Date de naissance …   Wikipédia en Français

  • Doak Walker — Données générales Nom complet Ewell Doak Walker Jr Nationalité  États Unis Date de naissance …   Wikipédia en Français

  • David W. Slater — President of York University In office 1970–1973 Preceded by Murray G. Ross Succeeded by H. Ian Macdonald …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”