Challenger bank and Insolvency: Difference between pages

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A relatively small, sometimes newer, retail bank which competes with larger, often older banks.
1.


Inability to pay financial obligations as they fall due.


Challenger banks' focus is generally on retail customers.


Challenger banks would generally tend to service smaller corporate clients, if any, rather than larger ones.
2.


Under UK law, the inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations.


In the UK, better-known challenger banks include, among others: Aldermore Bank, Charter Savings Bank, Close Brothers, Hampden & Co., Metro Bank, One Savings Bank, Paragon Bank, Sainsbury's Bank, Secure Trust Bank, Shawbrook Bank and Tesco Bank.
In making this assessment, future income and future asset valuations are also taken into account.
 
 
By the nature of the sector, new challenger banks arise with relatively greater frequency than other banks.  




== See also ==
== See also ==
* [[Big 4]]
* [[Company voluntary arrangement]]
* [[Central bank]]
* [[Cost of financial distress]]
* [[Commercial banks]]
* [[Creditors]]
* [[Competition & Markets Authority]]
* [[Insolvency practitioner]]
* [[Disruptor]]
* [[Insolvency Service]]
* [[DTLB]]
* [[Scheme of arrangement]]
* [[Independent Commission on Banking]]
* [[London Approach]]
* [[Retail]]
* [[Solvency]]
* [[Ring fence]]
* [[Solvency II]]
* [[Shadow banking]]
* [[Statement of affairs]]

Revision as of 09:41, 29 May 2013

1.

Inability to pay financial obligations as they fall due.


2.

Under UK law, the inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations.

In making this assessment, future income and future asset valuations are also taken into account.


See also