The last obstacle to Halifax's takeover of Birmingham Midshires Building Society was removed yesterday when a High Court writ to block the deal was withdrawn.
In a move clearing the way for average £1,250 windfalls for the society's members, Mr Bob Goodall, founder of Save Our Building Societies, said he could not risk personal financial ruin by initiating the action against the society.
Mr Goodall threatened the action after Birmingham Midshires refused his application for a second special general meeting of its members.
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