Four Seasons debt write-off
Dec. 6: A consortium of 30 banks is expected to announce in the coming days that it will write-off more than £800m of loans to Four Seasons healthcare, Britain’s biggest care home provider. The state-controlled Royal Bank of Scotland is the biggest loser. It will write off more than £300m and own just under 40% of the care group. Other institutions to lose money include Fortis, Nationwide, Marathon Asset Management and Cheyne Capital.