Loans and Finance

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Monday, February 18, 2008

Northern Rock Shareholders Fight Back

It seems that the shareholders in Northern Rock do not intend to take the nationalisation of The Wreck lying down.

Citywire reports that they intend to take a book-value of £4 per share as the basis for their negotiations, and are prepared (according to David Greene from Edwin Coe, who is working on behalf of around 6,000 Northern Rock shareholders and the UK Shareholders Association) to take the matter as far as the European Court of Human Rights over the next 18 months.

Good luck with that then!

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