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Northern Rock investors to start law suit

Northern Rock’s biggest shareholders are expected to start legal action against the Government and the regulators this week.

SRM Global and RAB Capital, which own around 20 per cent of the lender, are believed to be getting ready to launch their law suit, which could see Chancellor Alistair Darling and Bank of England governor Mervyn King being singled out.

SRM chief executive Jon Wood said at the weekend that it was “expecting to file legal action by the end of the week.”

He added: “We haven’t decided whether to name individuals though we certainly plan to call them as witnesses.”

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