Nationalisation of Northern Rock mortgage products, but the other company, "Northern Rock (Asset Management) plc", will not. The subsidiary in Guernsey, Northern Rock (Guernsey) Limited, and all Irish accounts are owned by the new Northern Rock plc. After the split there are two boards of directors; Ron Sandler is the Chairman of the new Northern Rock plc and Richard Pym is Chairman of the Asset Management company. Gary Hoffman is Chief Executive of both companies. On 10 March 2010 Northern Rock (Asset Management) plc announced that for the year 2009 the company made a better than expected loss of £257.4 million; this was a
Nationalisation of Northern Rock were the three companies short listed by the government to value the bank. On 9 September "The Times" reported that Andrew Caldwell, a valuations partner at BDO Stoy Hayward had been chosen as the valuer, with a fee of £4.5 million. The legal action brought by investors against the Government started in the Royal Courts of Justice on 13 January 2009. Shareholders were also staging a demonstration outside the court. One of the points that was revealed about the case is that they were examining who 'leaked' the information about the bank receiving its emergency government bailout. In order to