Northern Rock is today expected to reveal details of the pay-off for its former boss and millions paid in advisory fees when it posts results for the first time since the bank's crisis.
The now-nationalised lender will show that former chief executive Adam Applegarth could receive up to £760,000 after quitting last December. The "golden goodbye" is due to be outlined in Northern Rock's annual report, which will also finally include the bank's long-awaited results for 2007.
The report is expected to show that Northern Rock forked out more than £55 million in fees to legal, banking and accounting advisors in the strategic review that led to its nationalisation last month.
Northern Rock's results - originally due to be published months ago - will also reportedly see it admit that interest payments to the Bank of England and a raft of write-downs related to the US sub-prime mortgage crisis wiped out profits last year. It is believed that the financial hit from Northern Rock's "toxic" debt totalled about £400 million.
The 2007 results will show for the first time the exact amount borrowed from the Bank of England last year and the extent of the deposits and mortgages gained and lost, although trading since the year-end is not set to be included.
Northern Rock's new boss is also scheduled to use the report to provide a fuller update on his business plan for the Newcastle-based lender.
He may reveal that the bank's £100 billion mortgage book has already been considerably reduced as part of plans to scale back the business and pay off its vast borrowing before a return to the private sector. Ron Sandler, the new executive chairman, set out plans earlier this month to axe around a third of the company's 6,000 jobs to slim down the company.
Details of director leaving packages are likely to come under fire from staff and shareholders who are paying the price for the crisis at the company.
Disgruntled investors in the lender have seen Northern Rock's value slump to less than a tenth of its £5.3 billion stock market peak a year ago before its shares were suspended.
They have threatened to sue the Government unless it pays fair compensation for their shares and have accused it of a breach of human rights.
Graham Goddard, deputy general secretary of Unite said: "Those who contributed to the failure of Northern Rock must be held to account. Unite cannot accept that anyone whose actions contributed to the problems in the bank is able to walk away without any questions being asked of their conduct or any form of reward.
"The failures which resulted in the crisis in Northern Rock mean that some 2,000 jobs will be lost. We want to see a full investigation into the events which led to the troubles of the bank."
It is also reported that Northern Rock is in talks with the 85 per cent of staff at the group who participated in its employee share scheme and have lost most, if not all, of their money.