Bank prefs

[colin]

Well that's a result , thanks for being the harbinger of good news. There was a note in Citywire commenting that after the Aviva climb down fund managers have written to the government asking for the legal loophole which Aviva intended to use to be permanently closed for all prefs .

[johnhemming]

There is another area of law relating to listed securities which is along the lines of investors having the right to sue the company if they make investment decisions based upon what the company says and it was intentionally misleading. This covers all of the irredeemable prefs.