Written question asked by Patricia Gibson (Scottish National Party) on Monday, 20 May 2024, in the House of Commons. It was due for an answer on Thursday, 23 May 2024 (named day). It was answered by Bim Afolami (Conservative) on Thursday, 23 May 2024 on behalf of the Treasury.
Northern Rock plc: Compensation
- Question
-
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of delivering compensation to former Northern Rock PLC shareholders.
- Answer
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HM Treasury considers the issue of compensation for former Northern Rock shareholders to be settled. Both the Upper Tribunal in 2011 and the Court of Appeal in 2013 upheld the independent valuation of Northern Rock shares at nil value immediately prior to public ownership, and that no compensation was therefore due. HM Treasury does not intend to revisit this issue.
Secondary information
- Type
- Written question
- Reference
- 27099
- Session
- 2023-24
- Grouped for answer
- Yes
- Subjects
- Compensation Shareholders Northern Rock plc
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2024-05-23 17:30:36 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2023-24/27099
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2023-24/27099
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2023-24/27099