Anglo assessor to decide on value of shares

SHAREHOLDERS will be entitled to appeal decisions to a tribunal on what sum, if any, the Government will pay for Anglo Irish Bank shares when it goes into state ownership.

The Anglo Irish Bank Bill 2009, which is expected to be passed into law on Wednesday, will allow for the appointment of an independent assessor as soon as possible to recommend a “fair and reasonable” sum for the shares.

When deciding the price of shares, the assessor will take into account information about the bank which was not known to the public but which could have prevented people from investing in the bank had it been available.