RSS feedsPricewaterhouseCoopers has been awarded a £4.8m contract to value Bradford & Bingley which was nationalised last September as the banking crisis took hold. PwC partner Peter Clokey now has to determine what compensation, if any, will be paid to the bank’s former 930,000 shareholders.
Clokey described the assignment as ‘very complex’. Shareholders have already flagged their intention to challenge the matter in court if the valuation is too low. Clokey said: ‘I will be gathering and reviewing a significant amount of information about the financial position of the bank in the weeks leading up to the end of September last year.’
The Treasury has offered no time frame for the valuation.
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