Northern Rock: Nationalisation
The question
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.
Answered by Tulip Siddiq
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.
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