“Ss 5(4) and 9(2) of the Banking (Special Provisions) Act 2008 and art 6 of the Northern Rock plc Compensation Order 2008 (SI 2008/718), the provisions establishing the assumptions upon which valuation of shares was carried out under a scheme for compensating shareholders subsequent to the nationalisation of Northern Rock plc, did not infringe the shareholders right to peaceful enjoyment of their possessions under art 1 of the First Protocol to the Convention for the Protection of Human Rights and Fundmamental Freedoms (set out in Pt II of Sch 1 to the Human Rights Act 1998).”
WLR Daily, 16th February 2009
Source: www.lawreports.co.uk
Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.
