Taxpayers will have to wait up to a decade to get their money back from the bailout ... and some Northern Rock mortgages were sold in 2011 to Virgin Money, but the vast bulk of the mortgages were left with Northern Rock Asset Management – now run by.
However, this cash is expected to be returned over a period of around 10 to 15 years from 2012 as Northern Rock Asset Management Plc is run-down and the remaining Government loan is repaid." Northern Rock was fully nationalised in 2008 after nearly.
Some 152,000 Northern Rock Asset Management customers will receive hundreds of pounds ... However, the Treasury said that the compensation plan was not decided in time for the chancellor's statement last week: "The UK Asset Resolution Board did not make.
Northern Rock Asset Management (NRAM), the so-called "bad bank" that manages ... although this would provide a positive return on the government's £37bn funding provided for the bailout, it may take up to 15 years to get the cash.
The Rock, currently in the middle of axing 680 staff as it downsizes after separating from ‘bad bank’ Northern Rock Asset Management (NRAM), said it ... is nationalised with a £27 billion Government bailout. March 2009 – The Rock announces more.
A court in New York has ruled that Northern Rock Asset Management (NRAM), the UK taxpayer-owned institution ... The bank was nationalised with a £1.4bn bailout in February 2008, and later split into two. The good assets were sold to Virgin Money for.
A further £20 billion is still owed by Northern Rock Asset Management, which houses a portfolio of mortgages ... after too many politicians tried to pretend the bailout would be almost free or even turn a profit." The sale, which is expected to be.
But Northern Rock ... Rock Asset Management will be ‘fully recovered’. Matthew Sinclair, of the TaxPayers’ Alliance, said: ‘Taxpayers have already paid once to bail out Northern Rock. Mistakes like this ultimately make the bill for that bailout.
Virgin Group said Friday that it planned to bid with a consortium for Northern Rock, the troubled British bank that ... includes the insurer American International Group; Toscafund Asset Management, a fund focusing on investments in the financial services.
The bailout at the time saved jobs and prevented a total collapse of the economy. Similar actions were taken in Europe with the bailout of Northern Rock and RBS in the ... and Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu.