What is currently happening in the valuation process?
The Independent Valuer has now issued Assessment Notices setting out his final determination as to the amount of any compensation payable by HM Treasury to former shareholders of Northern Rock and to those whose rights to receive shares were extinguished when Northern Rock was transferred into temporary public ownership. Having applied the valuation assumptions that he was required by law to apply, the Independent Valuer has determined that there is no value in the shares (or right to receive shares) as at the Valuation Date and therefore that no compensation is payable to former shareholders (and to those whose rights to receive shares have been extinguished).
