Business & Finance

Northern Rock shareholder

I have just had a letter from UK shareholders Association with a response form.
Saying that they are campaigning for justice for NR shareholders.
I still have my 500 privitisation shares (and am wishing I'd sold them when the story broke).
If I reply will they expect me to chip in to their legal costs?
If I don't reply and they win an improvement in treatment will I get a better deal too.

Do people think they have a reasonable case? My impression was that the NR Action Group compounded the problems of NR before the government took it over.

dancecaller Thurs 08/05/08 07:34

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buildersmate
Thurs 08/05/08
09:39

I'm sure you will get a balance of views from here.

My own is that the Government owes the shareholders nothing. The business overstretched itself and couldn't get the funds at a price to support the mortgages that they had promised people at competitive rates. It is what can happen when a business tries to grow too fast. Result: - less money coming in than going out. Outcome - reduced shareholders' funds.

So no sympathy from me I'm afraid, but see what others say. PS. I'm still waiting for the Government to do something resulting from the Equitable Life fiasco.

Twenty20
Thurs 08/05/08
09:40

The company was broke before the government stepped in to save it, therefore the shares were worthless. I dont think anyone is given any guarantees when they buy shares that they will get their money back if the company goes to the wall.

Postdog
Thurs 08/05/08
12:51

I know nothing other than I saw this was being discussed on working lunch today (BBC2). Might be an idea to chck the website and see if anything has been said.

dancecaller
Thurs 08/05/08
14:15

Question Author

Thanks postdog.

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