What were the statutory assumptions that the Independent Valuer was required by law to apply?
When undertaking his valuation, the Independent Valuer was required to apply the statutory valuation assumptions set by the Banking (Special Provisions) Act 2008 and the Northern Rock plc Compensation Scheme Order 2008. These statutory valuation assumptions were that: • all financial assistance provided by the Bank of England or HM Treasury to Northern Rock had been withdrawn; • no financial assistance would in future be provided by the Bank of England or HM Treasury to Northern Rock (apart from ordinary market assistance offered by the Bank of England subject to its usual terms); • Northern Rock was unable to continue as a going concern; and • Northern Rock was in administration.
Related Questions
- How can you say that the process was independent given that the statutory valuation assumptions, which were core to the valuation, are so controversial?
- What are the statutory assumptions that the Independent Valuer was required by law to apply?
- What are the statutory assumptions that the Independent Valuer is required by law to apply?
