Robin Ashby attended a meeting of UKSA: Northern Rock Shareholders Action Group Committee, at which David Green, a partner in Edwin Coe LLP, also attended (he was involved in Railtrack litigation).
It seems that we are in for a long haul for fair compensation.
A Judicial Review might not conclude this side of Christmas.
The compensation assessment mechanism has not yet been set up - allegedly the Government has put the job out to tender but none of the big accounting firms want to do it! (No doubt someone's arms will be twisted to take on the poisoned chalice!)
What would be a fair price for the shares the Government expropriated? Our straw poll said 75% of our members thought that around or over 450 pence - the price at which the shares floated, and also ended on the first day of the run on the bank - is fair.
Although NRSSG will not be taking part in legal action, we wish UKSA good luck. It should also be noted that were the Government to make a low offer acceptance of it by individuals would preclude them from receiving any higher offer received as a result of further legal action taken when it is eventually made.
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