Anger at £20m spent on Cattles’ overhaul

December 2008 – Cancels dividend.

January 2009 – Slashes new lending, cuts 1,000 jobs.

January 2009 – Withdraws application for banking licence.

March 2009 – Second profits warning, warns of serious accounting flaws.

April 2009 – Says £850m bad debts black hole discovered.

April 2009 – Shares suspended.

July 2009 – Investigation passed to regulators and seven executives sacked plus chief executive David Postings quits.

July 2009 – Accountancy watchdog the AADB launches probe into Cattles’ auditor PricewaterhouseCoopers.

December 2009 – Admits no hope of restarting lending and shares of little or no value.

November 2010 – Launches restructuring plan to de-list.

January/February 2011 – Shareholders and creditors vote on restructuring.