What happens to existing BG claims when a Bank is taken over

Maria,

I wonder if you can advise what happens to existing BG claims (Generic or ordinary) when the Bank  concerned is taken over by another Bank, before the claim is resolved. Does the existing claim still stand or might the client be compromised in some way?

Maria,

I would be grateful if you could advise on this issue please (see below).

I'm wondering if a Bank takeover could result in the Bank writing off previous debts of this nature (outstanding BG claims against the original Bank), or if they could make the premise that they were not responsible to make good the previous Bank's actions, where for instance fraud has occurred? Will the consumer be protected from these two scenarios, according to existing law? Can a Bank takeover compromise consumer rights?

Many thanks.

 New Bank receives all rights and OBLIGATIONS. So the new Bank will be the liable one