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(From Banking Newslink)
Former Northern Rock shareholders lost their appeal regarding the valuation put on Northern Rock at the time of nationalisation. They had sought to overturn a high court decision refusing a judicial review of the valuation. They are considering taking the case to the Law Lords, the country's ultimate judicial authority.
The controversy centres around the government's terms of reference to the independent valuer - which was to estimate the value of Northern Rock at the time of nationalisation if it had not …