Originally Posted by yalimart
Of course but that's nothing to do with bailing the banks out with tax payers money to satisfy the bond holders, we only know of the institutional bond holders and not the privateers who took a safe punt. I just want to know where my austerity £s went and who to.
It's all rather incestuous Martin with a distinct reek of Nepotism on the grandest scale............ Looks to me (a lay-person) like they've enshrined into law the Bailing out of the (debatably) good & great amongst us......
"Coutts /ˈkuːts/ is a private bank and wealth manager, founded in 1692. It is the seventh oldest bank in the world and its international arm was recently sold to Union Bancaire Privée.
It is owned by the Royal Bank of Scotland Group (RBS) since 2000, when RBS purchased its parent, NatWest. Coutts formed part of RBS's private banking division. During its time with RBS, it acquired Zürich-based Bank von Ernst & Cie and in 2008, Coutts Bank von Ernst and other Coutts International
subsidiaries became RBS Coutts Bank. These traded as RBS Coutts International to align them with the parent RBS Group until 2011, when RBS Coutts was renamed Coutts & Co. Limited."
Until the 20th century Coutts was a clearing bank to the nobility and landed gentry, but today it is a wealth manager to a wider range of clients, including entrepreneurs, entertainers, sportsmen, professionals and executives. The British Royal Family is a noted client.
There are however stringent requirements to being accepted as a client, not just based on average and total financial assets. Prospective clients need at least £1,000,000 in investable assets, not including real estate."
and major projects
I'd never heard of 'Private Acts' before researching this a while ago, handy little trick to have in ones toolbox!
"Private acts are laws in the United Kingdom which apply to a particular individual or group of individuals, or corporate entity. This contrasts with a public general Act of Parliament which applies to the entire community. Private acts can afford relief from another law, grant a unique benefit or powers not available under the general law, or relieve someone from legal responsibility for some allegedly wrongful act."
Coutts & Co