Archive For The “Press” Category

RBS mistreated ailing businesses, says watchdog

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RBS mistreated ailing businesses, says watchdog Times, 26.08.17   Only one in ten of the troubled businesses put into Royal Bank of Scotland’s scandal-hit turnaround unit ever ended up returning to the main bank, according to a leaked report from the City watchdog.   Small and medium-sized companies placed under the supposed care of the […]

RBS mistreated clients, leaked FCA report reveals

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RBS mistreated clients, leaked FCA report reveals Guardian, 25.08.17   A division of the taxpayer-owned RBS bank which was meant to help companies in trouble mistreated many of its clients but did not try to “profit from their distress”, according to a leaked report by the regulator, the Financial Conduct Authority.   According to the […]

RBS accused of mistreating businesses in leaked report

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RBS accused of mistreating businesses in leaked report BBC, 25.08.17   The RBS department set up to help companies in trouble mistreated many of its clients, a leaked report for the Financial Conduct Authority says.   It found some “inappropriate action” – such as interest charges being raised or unnecessary fees added – was experienced […]

‘Disgraceful’ lack of progress by RBS over GRG group restructuring scandal

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‘Disgraceful’ lack of progress by RBS over GRG group restructuring scandal The Times, 31.07.2017 By James Hurley   Business owners affected by Royal Bank of Scotland’s restructuring scandal have expressed frustration at what they say is a lack of progress in the lender’s compensation scheme.   RBS has paid millions in “automatic” refunds of fees […]

RBS braced for fresh trial after investors raise legal fees

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RBS braced for fresh trial after investors raise legal fees FT, 06.06.17   Royal Bank of Scotland and former disgraced boss Fred Goodwin are bracing for a trial over the state-backed bank’s 2008 share sale after investors managed to gather millions of pounds at the 11th-hour in an attempt to push ahead with the court […]

RBS Lawsuit Settlement Said to Falter as Some Investors Hold Out

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RBS Lawsuit Settlement Said to Falter as Some Investors Hold Out Bloomberg, 2.6.17   Royal Bank of Scotland Group Plc’s settlement with investors suing the bank, which seemed a certainty earlier in the week, has faltered as a handful of investors continue to hold out.   Some of the shareholders who indicated Monday they would […]

Former Torex boss eyes appeal against ‘apparent bias’ in RBS High Court ruling

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Former Torex boss eyes appeal against ‘apparent bias’ in RBS High Court ruling Telegraph, 30.05.17   The boss of a collapsed software firm who claimed Royal Bank of Scotland forced the business into administration is attempting to overturn a High Court judge’s decision to dismiss his £128m lawsuit.   Neil Mitchell, the former chief executive […]

RBS Investors Back Settlement That May Avert Goodwin Clash

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RBS Investors Back Settlement That May Avert Goodwin Clash Bloomberg, 29.05.17   Investors suing Royal Bank of Scotland Group Plc over a rights offering in 2008 accepted the lender’s improved settlement offer in a move that may allow former Chief Executive Officer Fred Goodwin to avoid a potentially embarrassing court appearance.   RBS doubled its […]

Companies still find cause for complaint about RBS scheme

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Companies still find cause for complaint about RBS scheme Times, 29.05.17   The pace of dealing with ‘ruinous’ problems caused by the bank’s Global Restructuring Group is too slow for some critics   Donald Trump must look like useful cover for those seeking to bury bad news. In a move that understandably led to accusations […]

RBS High Court case adjourned as bank makes 11th-hour offer to shareholders

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RBS High Court case adjourned as bank makes 11th-hour offer to shareholders Telegraph, 22.05.17   A crunch High Court trial over Royal Bank of Scotland’s crisis-era rights issue is expected to be adjourned for 24 hours after the lender made a last-minute attempt to settle with aggrieved shareholders.   The taxpayer-owned bank has doubled its […]

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