Peter Clokey, the man appointed to lead an independent valuation at Bradford & Bingley, has now begun to assess the compensation process for the former shareholders of the bank. In an update released by PricewaterhouseCoopers, Clokey said that the bank is keeping a register of the 930,000 former shareholders, whose rights were transferred when the bank was placed into public control. 'To determine what, if any, compensation is owed I will be gathering and reviewing a significant amount of information about the financial position of the bank in the days and weeks leading up to the end of September last year,' he said. Clokey added that he will be following a 'robust' and 'fair process' during the valuation. The PwC partner was appointed by the Treasury last week, for a fee of £4.8m, to determine whether any compensation should be awarded following the nationalisation of the bank last September.