Northern Rock EGM

As dawn breaks over the Tyne and drizzle gently falls, the media start to gather outside the Metro Arena. It's soon clear that security has been set to levels of near paranoia. Photograph: Graeme Wearden/guardian.co.uk

Rebel shareholders in Northern Rock won one of the four resolutions they tabled at an extraordinary general meeting but sent a clear message to the management about their concerns for the future of the stricken lender. Read the article Photograph: Graeme Wearden/guardian.co.uk

Employees also showed up at the EGM, fearful that they might lose their jobs. But despite the lobbying, one-in-three positions was later axed by replacement chairman Ron Sandler Photograph: Graeme Wearden/guardian.co.uk

Shareholders run the gauntlet of protesters as they arrive at the Arena Photograph: Christopher Thomond/Guardian

Investors in Northern Rock endured a grim few months as its shares tumbled. In January they got their chance to lambast the company, at a heated EGM in Newcastle. Two hedge funds won the right to challenge any fire sale of the company Photograph: Scott Heppell/AP

Philip Richards, the chief executive of RAB Capital, arrives. His hedge fund (together with SRM) forced today's meeting and tabled four resolutions that would prevent the bank's board from selling assets or issuing new shares Photograph: John Giles/PA

Northern Rock's chairman Bryan Sanderson leaves the EGM Photograph: Owen Humphreys/PA

Jon Wood, the one-time star UBS trader who runs SRM, answering questions after the EGM. He attacked Bank of England governor Mervyn King for failing to save Northern Rock discretely Photograph: Graeme Wearden/guardian.co.uk

Most shareholders took a pragmatic view on the bank's collapse. Peter Grundy hoped the bank could survive as a private company run by competent management, not 'an opportunist with £200m'. 'I don't want it dubbed Virgin Rock, or Northern Virgin, or some vulgar name like that,' he said Photograph: Graeme Wearden/guardian.co.uk

Bill Ormond, another local shareholder, argued that nationalisation could be a good thing for Northern Rock. 'It worked for British Rail, and it worked when the pits were nationalised and it took away the owners who were sending 12-year olds down the mines.' Photograph: Graeme Wearden/guardian.co.uk