We believe that GRG acted unlawfully and that business losses can be attributed to such conduct. We believe that persons affected will be due compensation for such damage and for the consequential losses which resulted from this.
RGL will gather and analyse evidence in order to assess the viability of pursuing RBS through the English courts in London. Legal advisors, insolvency practitioners, financial, accounting, and strategic advisors have already been appointed to deliver this process.
The headline claim in the litigation will be that RBS, through GRG, systematically sought to defraud its own customers for its own commercial purposes, targeting asset-rich SMEs which it then funnelled into GRG on the basis of a pretext (often invented), hit them with heavy fees, placed them into a manufactured insolvency process and then in many cases obtained their key assets at below market value prices.
Conspiracy and Whistle-blowers
One of the causes of action which may be pleaded against RBS and others, is conspiring to harm by unlawful means, which in simple terms means that more than one person conspired to deliberately cause loss to another. This will have an effect on the point from when time runs, regarding the time limitation of when actions can be brought. Accordingly, we would be most interested in hearing from, or about, past or present employees of RBS, GRG, valuers, consultants or insolvency practitioners, who may have knowledge of such behaviour. Your identity will of course be kept strictly confidential. Please visit our Whistle-blower page.
For the sueRBS.com action, RGL is focused upon identifying potential claims that raise common misbehaviours by the Royal Bank of Scotland plc, so that the results of those claims can potentially be applied to other cases in the RGL group. In particular, RGL’s focus is upon identifying elements of fraud or deliberate concealment in RBS’s behaviour. It is likely that where such elements of fraud or deliberate concealment are present, these will delay time running on some limitation periods until the fraud or deliberate concealment was discoverable. To the extent that these elements are present in RBS’s behaviour, this may offer another way for potential claimants against the bank to seek redress. It may also assist potential claimants with claims which may otherwise already be time-barred.
RGL is not able to offer individual advice or representation to potential claimants in relation to the expiry of specific limitation periods for potential causes of action, or as to the steps required to preserve any such causes of action. Where fraud or deliberate concealment is not present, the limitation period will typically expire six years from the date upon which the breach of contract or negligent act or omission occurred.
It is extremely important for you to seek your own independent legal advice if you have concerns relating to the time-barring of such causes of action.
- Initially registrants will be contacted, and we will begin to gather a significant amount of essential information about what was done to claimant businesses by RBS. This will include documentary and witness evidence, to enable us to better evaluate your case.
- During this process you will authorise us, through the terms of our Claims Management Contract, to manage the litigation on your behalf.
- Our solicitors will then start to work up individual cases, including the taking of witness statements, with a view to issuing proceedings from early in 2017.
- The exact process of how so many cases will be dealt with by the Court will not be known until we have actually begun to issue proceedings and the matter has been determined by a series of Case Management Conferences. However, we anticipate some form of group representative action whereby a relatively small number of cases, representing the full range of repeating factual patterns of RBS’ culpable behaviour, will initially be brought, and the Court’s findings of liability therein can be rolled out, in a binding fashion, against RBS, with respect to similar factual situations in a large number of cases standing behind them.
The cost of running this action against RBS will be substantial, but claimants will not be asked to contribute to the funding of the action.
The arrangements will be: –
- Claimant contribution to legal costs – zero
- Claimant contribution to After the Event (ATE) legal insurance – zero
- Claimant share of successful outcome – 52%
For further details, see our Claims Management Contract