No compensation for Northern Rock shareholders

Former Northern Rock shareholders are unlikely to receive a penny in compensation following the nationalisation of the bank, a report costing £4.5m warned today.

Former Northern Rock shareholders are unlikely to receive a penny in compensation following the nationalisation of the British bank, a report costing £4.5m (€5m) warned today.

The provisional view of independent valuer Andrew Caldwell, of BDO, is that there would not have been anything left for shareholders had Northern Rock had to pay back more than £25bn (€27.63bn) Bank of England loans last year.