By Bob Howard
Reporter, Radio 4's Money Box
It is thought almost one million shareholders have a possible claim
Shareholders in Bradford & Bingley will be told how much compensation, if any, they will receive by the end of June, next year.
The bank's valuer, Peter Clokey, made the announcement at a meeting of shareholders in central London.
It is estimated 930,000 shareholders have a possible claim, following the nationalisation of Bradford & Bingley in September 2008.
Many are worried they may receive little or no compensation.
Mr Clokey, from the firm Price Waterhouse Coopers, was appointed by the government to start calculating the value of the shares in June.
The government is paying Mr Clokey's firm up to £4.8 million to carry out the work. The Treasury has offered no deadline for the valuation to be published, but he told the meeting he could now offer a time-frame.
"I believe, as I stand here today, that I will have issued my ruling within a year of my appointment - so by the end of June, next year."
Peter Clokey has been appointed the nationalised bank's valuer
Mr Clokey has been instructed by the government to value Bradford & Bingley at the time of its nationalisation, without taking into consideration any financial assistance it received from the taxpayer.
"The legislation says I should assume the bank was receiving no further support from the Treasury or the Bank of England, save for the ordinary market assistance from the bank of England, subject to its usual terms," he said.
"Part of my job is to work out precisely what that statement means."
He told the meeting he was interested in receiving submission from ordinary shareholders, not just the principal players in the bank and government:
"I'm keen to get information from not only people like the Treasury, not only the directors of the company.
"If you have any information which is pertinent to the process of working out what that bank was worth on the morning of the 29th September, please share it with me."
Critics claim the government's guidance could be interpreted to mean the bank was not effectively a going concern, and so shareholders will receive almost nothing for their shares.
On the Friday before it was nationalised the value of Bradford and Bingley shares fell to just 20p, having reached a high of around £3 during the previous 12 months.
The Bradford & Bingley Shareholders' Action Group said if its members do not receive adequate compensation it will consider taking possible court action.
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