The biggest investors in Northern Rock are this week expected to launch a multi-faceted legal action against the Government, regulators and individuals over the collapse of the nationalised bank. Sunday Telegraph
SRM Global and RAB Capital, which own a total of 20% of the Newcastle-based bank, are finalising tactics with their legal teams which could include suing Chancellor Alistair Darling and the Governor of the Bank of England, Mervyn King.
Jon Wood, head of SRM, the biggest shareholder in Northern Rock said he is prepared to take the action to the European courts, added: 'The tripartite caused significant problems for the bank, then they stole it from us and now they want to decide compensation. This is commercial vandalism.'