Protest over Rock payouts
Evening Chronicle (Newcastle, England), June 10, 2009
FORMER Northern Rock shareholders turned the clock back two years by forming a queue to highlight their battle for compensation.
In a reminder of the queues seen outside branches after the bank's collapse in September 2007, private shareholders gathered outside the accountancy firm chosen to carry out a valuation into Northern Rock.
The investors claim they have been shortchanged by the Government's compensation scheme following nationalisation in February 2008.
The gathering outside the London offices of BDO Stoy Hayward was on the eve of tomorrow's Court of Appeal hearing for a judicial review into the fairness of the compensation.
Shareholders say the scheme was based on false criteria which would lead to shares being valued at, if anything, little more than zero..
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