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PwC valuer to lead B&B share compensation scheme

PriceWaterhouseCooper head of valuations Peter Clokey has been chosen to spearhead the investor compensation scheme for Bradford & Bingley shareholders.

Clokey will head up the independent valuation of B&B shares prior to its collapse in September 2008, with the help of PwC staff. Under the Banking Act, the Government must seek an independent valuation for all of B&B’s shares prior to its nationalisation.

Clokey will inform former shareholders and others, such as the holders of B&B’s subordinated debt, of the basis on which he is going to operate and how he intends to proceed. Any interested parties can go to www.bandbvaluer.org.uk.

On the website, Clokey says to investors: “I realise you would probably like me to resolve this quickly. So, while I will take the time needed to carry out a thorough evaluation, I will try to reach my decision as swiftly as possible.

“For now, please bear in mind that we are right at the beginning of what is an extremely complicated process. Almost one million people will be affected by the outcome of my decision and much of the information I will rely on is not available to me immediately.”

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Jeremy Pearson is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. Many parents value the standard of education offered by […]

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