Ms. Bullock's broker, Richard Steinberg of Warburg Realty, confirmed the account of the failed transaction.
The FPL executives had wasted a bunch of their shareholders' money on a failed transaction but took what amounted to merger bonuses anyway.
Charles Wang, who is one of two bidders for the Islanders, wanted to buy the Jets with Robert Wood Johnson IV but backed away when he resisted being an owner without control, according to people involved in the failed transaction.
Until now banks have charged as much as £35 for each such failed transaction – and they have been "uncapped", so they could build up to hundreds of pounds in fees over time.
Often, as well as a higher rate of interest, borrowers are charged around £30 for going overdrawn, and pay further charges for every failed transaction such as a bounced cheque or direct debit.
I.S.S. stated: We recognize the shortcomings in the process and the conflicts of interest of management and founders … but given the downside of a failed transaction resulting in a loss of premium and likely continued deterioration of fundamentals, support for the transaction is warranted.
Since then, several analysts had said the failed transaction would cost some board members their jobs, and British newspapers reported Monday that some large shareholders had approached a former chief executive of the British insurer, Mark Tucker, over a possible return to the helm of the company.
"Apart from the failed transaction, as it were, then hopefully we're back to normal operating," he added.
Mr. Wigand, a career civil servant with a technocratic bent befitting the son of a NASA engineer, has worked on failed bank transactions for more than two decades.
