Shareholders threaten legal action unless they get fair redress

SHAREHOLDERS at yesterday’s Anglo Irish Bank EGM threatened to take legal action against the company — and ultimately the Government — if and when the proposed nationalisation plan is passed if they don’t receive fair compensation for their investments.

One disgruntled shareholder asked for a show of hands from the floor, to gain support for the issue, and was duly met with a unanimous showing.

But, as part of its nationalisation plan, the Government said the value of Anglo Irish Bank would ultimately be decided by a state-appointed assessor and not automatically by the bank’s dwindling share price.