The move caused the first run on a British bank for 150 years as savers, worried they might lose everything, formed queues outside branches to withdraw their money.
When the bank was subsequently nationalised, at least 160,000 shareholders lost their investments.
Former Northern Rock worker Dennis Grainger is chairman of the Northern Rock Small Shareholders sub-committee.
He has spent the last decade heading a campaign to recover their losses and is sending a report commissioned by the UK Small Shareholders Association to the Prime Minister.
Most of the £37bn of taxpayers' money used to bail out Northern Rock has already been recovered by the Treasury.
It is expected that the Treasury will also receive at least £4.5bn more from the body it set up to manage the bank's loans.
"Is she going to put the money under the pillow... and keep it like an asset stripper and use it for what they want?" Mr Grainger asked.
"Where is the fairness?
"Where is the justice?"
SKY News.