Northern Rock: Nationalisation
(asked on 22nd July 2024) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to help compensate small shareholders impacted by the nationalisation of Northern Rock PLC.
This question was answered on 29th July 2024
An independent valuer determined that Northern Rock shares were of no value immediately prior to the company being taken into public ownership, and therefore no compensation was due. This independent valuation was upheld in the both the Upper Tribunal in 2011 and the Court of Appeal in 2013. HM Treasury considers this matter settled.