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Local authorities are looking into the possibility of launching legal action against building companies accused last month of cover-pricing and bid-rigging by the Office of Fair Trading (OFT).
Councils have contacted David Greene, the solicitor behind the Northern Rock and Railtrack shareholder action cases, The Times has learnt. They want to know whether they have a [...]

The Government is struggling to find an independent valuer for Northern Rock to determine what, if any, compensation shareholders should receive for their stakes in the Legal nationalised bank.
Industry sources said that accountants, investment banks and other potential valuers were wary of taking on the job because of the potential legal and reputational risks involved. [...]