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Co-op Bank granted permission to call shareholders meeting

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Co-op Bank granted permission to call shareholders meeting

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LONDON (Reuters) – Co-operative Bank <42RQ.L> said on Friday a British court yesterday granted it the right to hold meetings between Tier 2 noteholders and shareholders to implement a restructuring plan. The British bank said last month that it had agreed a 700 million pound ($915.95 million) financial rescue package with its investors, including hedge funds GoldenTree Asset Management and Silver Point Capital. Co-op Bank announced the details of its restructuring plan, including a timeline of meetings, with the first to be held on Aug. 21 for ordinary shareholders.

(Reporting by Maiya Keidan. Editing by Andrew MacAskill)
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