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Northern Rock shareholders begin legal challenge
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A compensation court challenge has been launched by shareholders of financial-institution Northern Rock, which was nationalised earlier in the year.
The UK Shareholders Association (UKSA) hopes that shareholders could receive around £5 per share, but some believe it could be considerably lower.
UKSA has already put together a case for a legal review into the process of how the bank was brought under state ownership, which is backed by around 7,000 shareholders.
Newcastle-based Northern Rock was nationalised in February after experiencing the first run on a bank in over a century following a constriction to the flow of credit.
