By: Ainsley Brown
The shareholders of Northern Rock, lead by hedge funds SRM Global and RAB Capital, have lost their judicial review appeal at the Court of Appeal this week.
This ruling should end the saga of the shareholders´ attempting to use human rights law in order to gain – to their mind – just compensation from the nationalization of the Bank by the UK government. Well, not exactly, for now it’s only a maybe.
The shareholders, well at least it would seem SRM Global for now, intends to carry on the fight. They intend to seek permission to appeal to the House of Lords – oh sorry, that is the newly minted Supreme Court – or ultimately if that fails to the European Court of Human Rights (ECHR).
So the saga continues, there could be at least two more chapters to come.