continue to hire and maintain its existing base. Archived from the original on Retrieved later, Steve. Archived from the original on 20 September 2008. "Northern Rock chairman quits after criticism from lawmakers". "Northern Rock might have to turn away savers". Andrew Caldwell and HM Treasury, Upper Tribunal (Tax and Chancery Chamber NR/001/2010, where the shareholders' appeal was rejected. 198 As of October 2012 the company operates under the Virgin Money brand. In 2014 Virgin Money repaid a further 154.5 million that it had received as part of the refinancing package. 6 These additional payments which would take the value of the sale to over 1 billion could include a 150 million capital instrument and an additional cash consideration of 50-80 million would be paid upon a future profitable IPO or sale in the next five. 53 In March 2009, it was revealed that Lehman Brothers and Bradford Bingley had tabled bids for Northern Rock in December 2007; both of these bidders later fell victim themselves to the banking crisis. 43 Takeover offers edit Virgin edit On, Virgin Group announced that it intended to bid for Northern Rock as the lead partner in a coalition including American giant AIG, turnaround specialist WL Ross and First Eastern Investment.
Nationalisation of, northern Rock, wikipedia
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"Osborne plans to sell Northern Rock to a single buyer". "Northern Rock plc to sponsor Newcastle United". Reuters noted that there were considerations to sell the bank, but no formal discussions were taking place with potential buyers. On 17 February 2008, Alistair Darling, the Chancellor of the Exchequer, announced that Northern Rock was to be nationalised 4 claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under. British and Irish Legal Information Institute. "General Election 2010: Northern Rock customers to get shares". Administration would also have triggered the clause. Should the clauses be triggered, investors could demand their funding back potentially leaving the Government with an immediate 45bn bill. Three North Labour MPs have agreed to hand a series of petitions in, on behalf of shareholders who lost hundreds of thousands of pounds when their shares were confiscated. "Northern Rock finance director David Jones departs".
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