A proposal by National Bank shareholders for an-out-of-court settlement is being evaluated by the government, Justice Minister Owen Bonnici said yesterday.

It is the first time that the government has made a pronouncement on the matter.

Earlier this month, the Constitutional Court confirmed that the rights of 82 shareholders had been breached when they were forced to surrender their stakes without compensation 40 years ago.

The judgment applies to two groups of shareholders: 33 who had not signed their shares away to government and 49 who had signed to release their shares.

The case has been sent back to a lower court for continuation on the liquidation of damages.

Times of Malta yesterday raised the issue with Dr Bonnici, who said it was in the interest of all to find a solution to this “saga” that had been dragging on for years.

“The government is currently evaluating proposals from a legal and financial perspective, which were sent by the lawyer representing the shareholders.”

In November 1973, Dom Mintoff’s government took over the bank and a few months later its business was taken over by the newly set-up Bank of Valletta.

During the process, shareholders were not given any form of compensation, triggering a legal battle that has dragged on for over four decades.