The biggest investor in Northern Rock, SRM Global, is preparing to launch legal action against the government and regulators this week over their role in the collapse of the nationalised bank, according to The Guardian .
The Monaco-based fund manager, which owns 12% of Northern Rock, is finalising tactics with its lawyers, White & Case. RAB Capital, the second-biggest investor in Northern Rock with about 8%, declined to comment on whether it would also launch legal action this week. The lawsuit may name individuals such as the chancellor and the governor of the Bank of England. DESPITE THE CREDIT crunch, manufacturing industry continues to record growth and companies in the sector remain optimistic about the future, according to the latest survey by the EEF, the engineering and manufacturers' organisatio...
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