B&B shares are worthless, finds review

Laura Miller
clock

Bradford & Bingley (B&B) shareholders had their hopes of compensation dashed today after an independent assessor upheld his previous ruling against a payout.

Peter Clokey, the independent valuer appointed under the Bradford & Bingley plc Compensation Scheme and a partner of PwC, published his decision today in a Revised Assessment Notice. The review backs his original decision from July last year that ordinary shares in the nationalised bank had no value immediately before their transfer to HM Treasury. Consequently, no compensation is payable by HM Treasury to former shareholders or those who held subscription rights to the shares, he says. About 8,000 of the 930,000 former shareholders wrote to Clokey to contest his ruling last year, ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Muted response as Labour names Grimsby Town FC co-owner next investment minister

Muted response as Labour names Grimsby Town FC co-owner next investment minister

After the sudden exit of Poppy Gustafsson last week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Hargreaves Lansdown and Schroders to launch double LTAF offering

Hargreaves Lansdown and Schroders to launch double LTAF offering

From next week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Darius McDermott: Complacency at the peak

Darius McDermott: Complacency at the peak

'Markets to hit new highs, while credit spreads are at multi-decade lows'

Darius McDermott
clock 08 September 2025 • 5 min read