Scottish grantmaker wins £3.5m lawsuit against bank
Tags: Law | Grants & Grantmaking
Mary Craig
Mary Craig is chief executive of the Lloyds TSB Foundation for Scotland.
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The Lloyds TSB Foundation for Scotland has won £3.5m from the Lloyds Banking Group after successfully appealing against an earlier court judgment.
The Lloyds TSB Foundation for Scotland has initiated legal proceedings against its benefactor the Lloyds Banking Group over an alleged breach of their covenant, after being given just £38,920 rather than the £3.5m it believes it is due.
Gareth Jones argues that the campaign on behalf of the Lloyds TSB Foundation for Scotland is focusing on the wrong issue, and that the Foundation must compromise if it is to prevent Scottish charities' funding shortfall.
The Lloyds TSB Foundation for Scotland has restarted its grantmaking programmes having raised money via the sale of shares held in the Lloyds Banking Group.
News
Lloyds Banking Group cancels covenant with Scottish foundation
Tags: Funding | Grants & Grantmaking
The Lloyds Banking Group has moved to cancel its covenant with the Lloyds TSB Foundation for Scotland, initiating a nine-year notice period.
The Lloyds TSB Foundation for Scotland has announced that it has failed to come to an agreement with its benefactor the Lloyds Banking Group to ensure its future funding.
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