Print Published 31st Dec 2011, 01:07

Media Square executives and bankers colluded on administration buyout

The bank that reportedly lost a large amount of money on the appointment of administrators to the former public company Media Square has emerged as a stakeholder in the newly created company that bought the business back.

Uberior Trading, a subsidiary of Halifax Bank of Scotland (HBOS), is identified as a party to the shareholders’ agreement governing the conduct of MSQ Partners, the company set up by former Media Square executives Peter Reid, Roger Parry and Dean Wright to implement the management buyout (see MSQ paid £11m for Media Square businesses).  HBOS was banker to Media Square.

Editorial comment: See Should Media Square managers have been allowed to buy it?