BusinessCompany NewsMajor firm wouldn’t touch Rock valuation ‘with a barge pole’

Major firm wouldn't touch Rock valuation 'with a barge pole'

Unnamed figure at 'big firm' gives cold shoulder to the job of totting up compensation for Northern Rock shareholders

A figure from one of the leading accountancy firms has said that it would not
touch the job of valuing Northern Rock ‘with a bargepole.’

The Treasury is aiming to get a value of the Rock’s worth after the
Government’s £25bn support package has been stripped out and one of the top
firms would naturally be in the running for the job.

The Sunday Times reported the comments in the wake of the
new management duo Ron Sandler and FD Ann Godbehere taking control at the
Newcastle-based company last week.

Shareholders are fearing the worst because the Rock would have collapsed if
the government had not tided it over, implying that they are not in line for a
large amount of compensation.

Further reading:

NAO
to probe government’s Rock rescue

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor