Bradford and Bingley plc Compensation Scheme: applications invited for appointment
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Issued 10 March 2009
Bradford & Bingley plc Compensation Scheme:
applications invited for appointment as independent valuer
The Treasury is inviting applications for the position of
valuer to assess any compensation that may be payable to former holders
of the shares in Bradford & Bingley plc that were transferred
the Treasury in September last year (and others affected by the
Further details on how to apply can be found at www.hm-treasury.gov.uk/valuer
The closing date for applications is 07 April 2009.
applicants will be invited to present to a selection panel in May 2009.
Treasury is appointing an independent valuer, through a competitive
process, to assess any compensation that may be payable to those
affected by the transfer of Bradford & Bingley plc to the
in September 2008 (specified in Part 2 of the Bradford &
plc Compensation Scheme Order 2008 (S.I. 2008/3249)).
- A detailed brief for potential applicants is available at www.hm-treasury.gov.uk/valuer
appointment will be made by HM Treasury Ministers on the recommendation
of a panel comprising Michael Izza (Chief Executive of the Institute of
Chartered Accountants of England and Wales), Anthony Fry (Senior
Managing Director, Evercore Partnership), the Hon Christopher Gardner
QC and Louise Tulett (Director of Finance, Procurement and Operations,
HM Treasury). Mr Izza will chair the panel. This is
the same panel
that recommended the appointment of the independent valuer for the
purposes of the Northern Rock plc Compensation Scheme.
- A list of people who held shares
immediately prior to the transfer is being maintained. They can update
their contact details by following the instructions on: www.bbg.co.uk/bbg/ir/shareservices/shareholding
Following the appointment process, the valuer is expected to
the basis on which he or she is going to conduct the valuation exercise
and rules of procedure in relation to the assessment. No further action
is required at this stage by those who held Bradford & Bingley
shares at the time of the transfer.
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Article Published/Sorted/Amended on Scopulus 2009-03-13 12:24:15 in Business Articles