LV CHAIRMAN FACES GRILLING BY MPs

MEMBERS of Parliament will grill controversial LV chairman Alan Cook on Friday over the mutual insurer’s proposed sale to American private equity firm Bain Capital.

Cook – who was the boss of the Post Office from 2006 to 2010 when the wrongful prosecution of sub-postmasters began – will be quizzed on the sale by the All Party Parliamentary Group for mutuals. The MPs issued a scathing report in April that found the £530m deal is being pushed through by bosses while members are left with a ‘lack of information’.

Many have suggested Cook, 67, and LV chief executive Mark Hartigan could make millions if the deal goes through. The All Party group’s chairman, Gareth Thomas, said there are ‘many unanswered questions’ about the deal.

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