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November 22, 2013 12:27 pm

Timeline: Flowers’ powers – the rise and fall of Rev Paul

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The arrest of Paul Flowers, former chairman of the Co-op Bank, on suspicion of supplying drugs, is the latest development in the controversy surrounding the institution.

The bank is undergoing radical restructuring that will involve handing over 70 per cent of its equity to bondholders.

A political row has also broken out about how high Mr Flowers managed to rise in the Labour movement – he was a member of an informal advisory and a local councillor in Bradford – and why regulators allowed him to chair the bank even though he admitted he knew little about the industry.

This timeline tracks the evolution of the scandal.

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