Building society triumphs over carpetbaggers

The Independent - London | April 25, 1999| | Copyright

GET RICH QUICK "carpetbaggers" have failed in their attempt to turn the Bradford & Bingley building society into a bank. Their defeat, to be announced tomorrow, is a massive setback for the campaign, led by freelance butler Michael Harden, to force building societies to "convert" and issue windfall shares.

The defeat comes days after he abandoned his attempt to win a seat on the board of the Britannia building society.

And in a third blow, the Nationwide, Britain's largest society, has announced, on lawyers' advice, that Mr Harden's attempt to force it into another conversion vote is invalid. ...

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