Former Co-op chief faces fresh questions on why bank failed MPs on the committee want to clear up the confusion and Mr Marks will face calls to say whether Mr Richardson's claims are correct, or whether the version of events given by Mr Bailey is more accurate. "At present we have two accounts of the Co-op Bank's problems that cannot be reconciled and it is very important we get to the bottom of this issue," said one member of the committee. The Co-op Bank is currently in talks with its bondholders over a £1.5bn fundraising plan as it rushes to fill a capital hole in its balance sheet before the end of the year. The lender has set out plans that would involve junior debt investors taking a £500m write-down on the value of their existing holdings, while the Co-op Group has pledged to pump £1bn into the bank. Bondholders have been angered by the outline terms of the so-called "exchange offer," with the bank expected to publish a detailed proposal at the end of the month. One group of investors has suggested instead that the Co-op Group should give up all control of the bank and hand its equity to bondholders. A subcommittee of the bank's board is holding talks with representatives of the investors, which include several major hedge funds, in an attempt to reach a deal on how to meet its capital shortfall.