Northern Rock compensation claim rejected – The Guardian

Posted August 2nd, 2012 in banking, compensation, human rights, nationalisation, news, shareholders by sally

“Investors who held in shares in Northern Rock before it was nationalised by Labour in February 2008 have reacted angrily to a long awaited decision by the European court of human rights to dismiss their argument that they should be granted compensation by the UK government.”

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The Guardian, 1st August 2012

Source: www.guardian.co.uk

Northern Rock Applicants v Caldwell and another – WLR Daily

Posted October 10th, 2011 in banking, compensation, law reports, nationalisation, valuation by sally

Northern Rock Applicants v Caldwell and another [2011] UKUT 408 (TCC); [2011] WLR (D) 289

“The statutory assumption in section 5(4)(a) of the Banking (Special Provisions) Act 2008 that all financial assistance provided by the Bank of England or the Treasury ‘has been withdrawn’ required the independent valuer to assume that the assistance had been terminated and repaid, following realisations of assets made just before the date of nationalisation.”

WLR Daily, 6th October 2011

Source: www.iclr.co.uk

R (SRM Global Master Fund LP) v Commisioners of HM Treasury; R (RAB Special Situations (Master) Fund Ltd v Same; R (Grainger and others) v Same – WLR Daily

Posted July 31st, 2009 in appeals, banking, compensation, law reports, nationalisation, news by sally

R (SRM Global Master Fund LP) v Commisioners of HM Treasury; R (RAB Special Situations (Master) Fund Ltd v Same; R (Grainger and others) v Same [2009] EWCA Civ 788; [2009] WLR (D) 267

“The statutory scheme established to compensate shareholders subsequent to the nationalisation of Northern Rock plc, on the basis of the assessment of the valuation of the shares by means of the statutory assumptions provided for in s 5(4) of the Banking (Special Provisions) Act 2008, did not violate the shareholders’ right to the protection of their property guaranteed under art 1 of the First Protocol to the Convention for the Protection of Human Rights and Fundamental Freedoms. Those statutory assumptions struck the balance, required by the Convention, between the demands of the general interest of the community and the requirements of the protection of the individual’s fundamental rights.”

WLR Daily, 30th July 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Treasury faces legal action over ‘dirty’ banking investments – The Guardian

Posted July 1st, 2009 in banking, environmental protection, nationalisation, news by sally

“Campaign groups say bank bailout breaches government’s own policies on reducing carbon emissions by lending money to coal, oil and gas companies.”

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The Guardian, 1st July 2009

Source: www.guardian.co.uk

Northern Rock rescue ‘did not limit competition’ – The Times

Posted March 11th, 2009 in banking, competition, nationalisation, news by sally

“The Office of Fair Trading (OFT) has concluded that nationalising Northern Rock has had no ‘significant adverse’ impact on competition across financial services.”

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The Times, 10th March 2009

Source: www.timesonline.co.uk

SRM Global Master Fund LP v Commissioners of HM Treasury; RAB Special Situations (Master) Fund Ltd v Same; Grainger and others v Same – WLR Daily

Posted February 17th, 2009 in banking, compensation, law reports, nationalisation by sally

SRM Global Master Fund LP v Commissioners of HM Treasury; RAB Special Situations (Master) Fund Ltd v Same; Grainger and others v Same [2009] EWHC 227 (Admin); [2009] WLR (D) 55

“Ss 5(4) and 9(2) of the Banking (Special Provisions) Act 2008 and art 6 of the Northern Rock plc Compensation Order 2008 (SI 2008/718), the provisions establishing the assumptions upon which valuation of shares was carried out under a scheme for compensating shareholders subsequent to the nationalisation of Northern Rock plc, did not infringe the shareholders right to peaceful enjoyment of their possessions under art 1 of the First Protocol to the Convention for the Protection of Human Rights and Fundmamental Freedoms (set out in Pt II of Sch 1 to the Human Rights Act 1998).”

WLR Daily, 16th February 2009

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Shareholders in Northern Rock set to keep fighting – The Times

Posted February 16th, 2009 in banking, compensation, nationalisation, news by sally

“The former shareholders of Northern Rock are expected to go to the Court of Appeal after failing yesterday in their challenge to the Government’s compensation scheme, which saw their shares valued at almost nil.”

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The Times, 14th February 2009

Source: www.timesonline.co.uk

Rock investors lose court case – BBC News

Posted February 13th, 2009 in banking, compensation, nationalisation, news by sally

“Former Northern Rock shareholders have lost their legal challenge to the government’s plan to compensate them.”

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BBC News, 13th February 2009

Source: www.bbc.co.uk

Hospital at fault over baby death – BBC News

Posted January 23rd, 2009 in compensation, hospitals, nationalisation, news by sally

“A couple from Worcestershire have received a five-figure pay out after hospital staff missed warning signs that led to their baby’s death.”

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BBC News, 22nd January 2009

Source: www.bbc.co.uk

Shareholders challenge ‘unlawful’ Northern Rock bailout – The Times

Posted January 14th, 2009 in banking, compensation, nationalisation, news by sally

“Northern Rock was secretly given a ‘substantial’ valuation by the Government while shareholders received nothing in compensation when it was nationalised, the High Court was told yesterday.”

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The Times, 14th January 2009

Source: www.timesonline.co.uk

Northern Rock considers legal action against former board – The Times

Posted June 18th, 2008 in banking, nationalisation, news by sally

“Northern Rock has confirmed that its new bosses have launched an investigation into whether legal action can be taken against the now-nationalised bank’s former board.”

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The Times, 18th June 2008

Source: www.timesonline.co.uk

High Court pressed for early hearing on Rock shareholders’ battle with Treasury – The Times

Posted June 9th, 2008 in banking, nationalisation, news by sally

“The Government has called for an early hearing of the court case in which Northern Rock shareholders are suing the Treasury over the nationalisation of the bank, The Times has learnt.”

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The Times, 7th June 2008

Source: www.timesonline.co.uk

Treasury picks trio of QCs to fight Rock case – The Times

Posted June 5th, 2008 in banking, barristers, nationalisation, news by sally

“The Government has lined up three of the highest-paid QCs in the country after deciding to try to force an early High Court hearing with disgruntled Northern Rock shareholders who are suing the Treasury over the nationalisation of the bank, The Times has learnt.”

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The Times, 4th June 2008

Source: www.timesonline.co.uk

Rock shareholders begin legal bid – BBC News

Posted May 8th, 2008 in banking, compensation, nationalisation, news by sally

“Shareholders in nationalised bank Northern Rock are launching a court challenge over compensation they are due to receive.”

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BBC News, 8th May 2008

Source: www.bbc.co.uk

Small shareholders seek judicial review over Northern Rock compensation – The Times

Posted April 24th, 2008 in banking, compensation, judicial review, nationalisation, news by sally

“Northern Rock’s small shareholders will take High Court action against the Treasury within weeks after the Government’s lawyers rejected their plea for compensation.”

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The Times, 24th April 2008

Source: www.timesonline.co.uk

Northern Rock shareholders prepare legal challenge for violation of human rights – The Times

Posted March 20th, 2008 in banking, human rights, nationalisation, news by sally

“Northern Rock’s army of small shareholders took their campaign for compensation to the courts yesterday as they accused the Government of abusing their human rights by nationalising the stricken mortgage lender.”

Full story

The Times, 20th March 2008

Source: www.timesonline.co.uk