1-20 of 296 results for subject:"Northern Rock plc"
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To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of providing compensation for small shareholders for the loss of their shares in Northern Rock Plc.
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of providing compensation for small shareholders for the loss of their shares in Northern Rock Plc.
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.
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.
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.
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.
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a compensation scheme for Northern Rock shareholders.
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a compensation scheme for Northern Rock shareholders.
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.
To ask Her Majesty’s Government what assurances Virgin Money gave the Government when they purchased Northern Rock plc about the protection of jobs and branches in Newcastle, Tyneside and Sunderland.[HL1242]
To ask Her Majesty’s Government what assurances Virgin Money gave the Government when they purchased Northern Rock plc about the protection of jobs and branches in Newcastle, Tyneside and Sunderland.[HL1242]
The Chancellor announced the sale of Northern Rock plc to Virgin Money on 17 November 2011. The deal completed on 1 January 2012.
When Virgin Money acquired Northern Rock in November 2011, it made a number of commitments relating to the acquisition: there would be no compulsory redundancies, beyond those already announced by Northern Rock, for at least three years from completion; the total number of Northern Rock branches would be retained and in due course extended as the business’s growth allowed; and that the operational headquarters of Virgin Money would be based in Newcastle.
On 17 November 2011, the Chancellor announced the sale of Northern Rock plc to Virgin Money. The transaction completed on 1 January 2012, following approval from the Financial Services Authority and receipt of European Commission merger clearance. Today, UK Financial Investments Ltd (UKFI) has published a document setting out the...
On 17 November 2011, the Chancellor announced the sale of Northern Rock plc to Virgin Money. The transaction completed on 1 January 2012, following approval from the Financial Services Authority and receipt of European Commission merger clearance. Today, UK Financial Investments Ltd (UKFI) has published a document setting out the...
My honourable friend the Financial Secretary to the Treasury (Mark Hoban) has today made the following Written Ministerial Statement. On 17 November 2011, the Chancellor announced the sale of Northern Rock plc to Virgin Money. The transaction completed on 1 January 2012, following approval from the Financial Services Authority and...
My honourable friend the Financial Secretary to the Treasury (Mark Hoban) has today made the following Written Ministerial Statement. On 17 November 2011, the Chancellor announced the sale of Northern Rock plc to Virgin Money. The transaction completed on 1 January 2012, following approval from the Financial Services Authority and...
To ask the Chancellor of the Exchequer when the first coupon payment on the new convertible debt in the sale of Northern Rock is due to be paid; and what further receipts he expects in each of the next three years.
To ask the Chancellor of the Exchequer when the first coupon payment on the new convertible debt in the sale of Northern Rock is due to be paid; and what further receipts he expects in each of the next three years.
To ask Her Majesty’s Government what steps they have taken to ascertain the tax status of the bid vehicle and the insertions in it through which Virgin Money is acquiring Northern Rock plc; and whether in comparing this bid with possible otherbids from institutions or individuals wholly resident and domiciled...
To ask Her Majesty’s Government what steps they have taken to ascertain the tax status of the bid vehicle and the insertions in it through which Virgin Money is acquiring Northern Rock plc; and whether in comparing this bid with possible otherbids from institutions or individuals wholly resident and domiciled...
To ask Her Majesty’s Government what enquiries they made into the tax status of Sir Richard Branson, and whether they took that status into account, in considering whether the sale of Northern Rock plc to a consortium led by him would provide good value to the taxpayer.
To ask Her Majesty’s Government what enquiries they made into the tax status of Sir Richard Branson, and whether they took that status into account, in considering whether the sale of Northern Rock plc to a consortium led by him would provide good value to the taxpayer.
To ask Her Majesty’s Government whether they will publish in full the terms imposed on the sale of Northern Rock plc by the European Commission; whether any provision exists to vary those terms; what sanctions are available to the European Commission in the event of non-compliance; and whether the details...
To ask Her Majesty’s Government whether they will publish in full the terms imposed on the sale of Northern Rock plc by the European Commission; whether any provision exists to vary those terms; what sanctions are available to the European Commission in the event of non-compliance; and whether the details...
To ask Her Majesty’s Government what was the amount of excess regulatory capital within Northern Rock above the required 10 per cent tier 1 core capital ratio at the date on which its sale to Virgin Money was agreed.
To ask Her Majesty’s Government what was the amount of excess regulatory capital within Northern Rock above the required 10 per cent tier 1 core capital ratio at the date on which its sale to Virgin Money was agreed.
To ask Her Majesty’s Government whether Mr Wilbur Ross will require the approval of the Financial Services Authority as a person exercising significant influence over Northern Rock plc following the sale of that company to Virgin Money.
To ask Her Majesty’s Government whether Mr Wilbur Ross will require the approval of the Financial Services Authority as a person exercising significant influence over Northern Rock plc following the sale of that company to Virgin Money.
To ask Her Majesty’s Government what arrangement was made with the private equity purchasers of Northern Rock plc to claw back further amounts in the event of a future sale of Northern Rock plc, and how this relates to partial sales or sales of an interest in an entity owning...
To ask Her Majesty’s Government what arrangement was made with the private equity purchasers of Northern Rock plc to claw back further amounts in the event of a future sale of Northern Rock plc, and how this relates to partial sales or sales of an interest in an entity owning...
To ask Her Majesty’s Government (1) whether the agreement for the sale of Northern Rock plc to Virgin Money contains any provision enabling the sale price to be varied or the buyer to withdraw, contingent on any decision by the Financial Services Authority (FSA) on the amount of regulatory capital...
To ask Her Majesty’s Government (1) whether the agreement for the sale of Northern Rock plc to Virgin Money contains any provision enabling the sale price to be varied or the buyer to withdraw, contingent on any decision by the Financial Services Authority (FSA) on the amount of regulatory capital...
To ask Her Majesty’s Government what percentage of the capital of Northern Rock plc will be owned by private equity after its acquisition by Virgin Money; and what percentage of the share capital will be owned by shareholders based in (1) the British Virgin Islands, (2) the Cayman Islands, (3)...
To ask Her Majesty’s Government what percentage of the capital of Northern Rock plc will be owned by private equity after its acquisition by Virgin Money; and what percentage of the share capital will be owned by shareholders based in (1) the British Virgin Islands, (2) the Cayman Islands, (3)...