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