The Northern Rock shareholders dispute has been dismissed by the courts, it was announced today (13 February) and is now heading for appeal. Lord Justice Stanley Burton and Mr Justice Silber's judgment means more than 150,000 private shareholders have failed in their attempts to secure improved compensation following the nationalisation of the crisis-hit lender.The ruling followed a three-and-a-half day trial held last month at a specially convened Divisional Court at the Royal Courts of Justice. The shareholders did not challenge the bank's nationalisation, but were claiming that the statutory criteria established for the valuation process breached the European Convention on Human Rights.
February 13, 2009 at 06:06 AM
1 minute read
The original version of this story was published on Legalweek
The Northern Rock shareholders dispute has been dismissed by the courts, it was announced today (13 February) and is now heading for appeal.
Lord Justice Stanley Burton and Mr Justice Silber’s judgment means more than 150,000 private shareholders have failed in their attempts to secure improved compensation following the nationalisation of the crisis-hit lender.
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