A FORMER Post Office boss who oversaw the subpostmaster wrongful prosecution scandal wants to sell off Liverpool Victoria (LV) originally created to help workers avoid a pauper’s funeral, Labour has warned.
Shadow minister for international trade Gareth Thomas said that Alan Cook, Post Office managing director from 2006 to 2010 and now LV chairman, is driving the sale of the 178-year-old friendly society to US private equity giant Bain Capital.
The Labour Co-op MP for Harrow West pointed out that Mr Cook promised not to demutualise the insurance giant when he oversaw its conversion into a company limited by guarantee and therefore without shareholders in 2019.