Pressure on Co-op Bank rescue plan

AOL Money Staff
Cooperative bank
Cooperative bank

Pressure is mounting on struggling lender Co-operative Bank after US vulture funds demanded it tear up a rescue plan to plug a £1.5 billion black hole in its balance sheet.

The bank is finalising plans to fill the capital gap and float on the stock market, which will force losses on investors ranging from pensioners to multibillion-pound hedge funds who bought its bonds.