RGL announces new legal team as list of claimants grows.
London, 25 April 2016: RGL Management Limited (“RGL”), recently formed specifically to bring claims against RBS Plc on behalf of SME businesses which entered RBS’s infamous Global Restructuring Group (“GRG”) division, today announced Humphries Kerstetter LLP as their solicitors. Humphries Kerstetter is a specialist litigation practice with a track record in winning complex cases and is headed up by founder and senior partner Mark Humphries with over 30 years’ experience in dispute resolution.
RGL is also represented by a team of barristers from 3 Hare Court Chambers led by Simon Davenport QC. Simon specialises in insolvency, civil fraud and commercial dispute cases.
RGL has also confirmed that it has been signing up potential claimants at an increasing rate whose individual losses range between one or two million and tens of millions of pounds. RGL’s experience is that many SME business owners whose businesses went through GRG have had their lives destroyed. The group has already begun collecting and evaluating evidence.
RGL is funded and intends to progress with building initial cases against RBS during 2016.
James Hayward, CEO of RGL said, “We are very pleased by the response we have had from businesses affected by GRG. The potential claimants that we have spoken to are very relieved to know that RGL is funded and that they are now finally able to make progress with their cases.”
Mark Humphries senior partner at Humphries Kerstetter stated, “We are very pleased to have been instructed to represent RGL on such an important claim. From what we have seen, we believe there is potentially a strong case and we intend to move forward with it quickly.”
Anyone who has been affected is encouraged to contact the RGL group via its website, www.sueRBS.com.
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RGL is a newly formed company with a dedicated professional team in place to manage and pursue claims against RBS. The company has successfully raised funding to begin the preliminary investigation work.
The team at RGL comprises:
James Hayward: CEO. James is a lawyer and investment banker with experience in the US, UK and Australia. James has run many large, complicated, multi-party, commercial actions and been involved in the litigation funding industry.
Tony Lahert is a highly experienced executive having served on boards in the UK, US and Europe. Tony founded and is chairman of www.ksl-it.com, a 900 member action group associated with legal claims running to hundreds of millions of dollars against financial institutions and professional advisers in the UK and US. Certain targeted defendants have settled before court action, with ongoing legal proceedings against others in New York and London.
Alan Thomas is a chartered accountant with extensive experience as an insolvency practitioner and in running action groups against large financial institutions and advisers.
About Humphries Kerstetter
Humphries Kerstetter LLP is a law firm based in the City of London specialising in high stakes commercial litigation. With an ethos of “reputation is everything”, the firm’s approach is not targeted at maximising profits, but rather at the enhancement of the firm’s reputation.
Mark Humphries founded the firm after serving as Head of Advocacy at Linklaters LLP for over 15 years, along with managing partner Kristopher Kerstetter. Mark acts for a number of banks and major corporates in a wide range of contentious matters. He is a very experienced solicitor-advocate and legal and commercial strategist. Mark has been cited consistently by legal directories as a leader in the field of commercial litigation.
Kristopher Kerstetter, also formerly of Linklaters, has over 15 years’ experience in complex commercial litigation. He is a solicitor-advocate with rights to appear in all Higher Courts (Civil) of England and Wales as well as the courts of the US states of New York and Massachusetts.
Humphries Kerstetter has a wealth of experience in handling high value banking and insolvency disputes. It is currently acting for Tesco Stores and WH Smith against Visa and MasterCard in the high profile interchange litigation involving credit and debit card fee overcharges.
Read more about Humphries Kerstetter here: www.humphrieskerstetter.com
About Simon Davenport QC – 3 Hare Court Chambers
RGL are delighted to also be represented by Simon Davenport QC, Aidan Casey QC and Daniel Lewis all of 3 Hare Court Chambers.
Simon Davenport QC specialises in commercial dispute cases, insolvency and civil fraud. He is head of the Chambers groups in all of these areas and is widely acclaimed as a leading silk in these fields across the Bar, named as a Leading Silk in these areas in the major directories.
He is trusted in the largest scale litigation and widely recognised as an advocate of the first rank, a clever strategist and a highly effective cross-examiner.
He has been appointed to the Serious Fraud Office approved list of Queen’s Counsel, was appointed to the Treasury Solicitors’ panel of Queen’s Counsel. He is a member of both the Policy Group and the Fraud Group of R3. In 2015, he was elected as a bencher of the Honourable Society of the Inner Temple.
He has recently been conducting the Aeroflot v Berezovsky litigation ($150 million alleged fraud by an oligarch), the Baha Mar Chapter 11 ($3.5 billion insolvency of Bahamas resort in the Delaware bankruptcy court with Daniel Lewis), NGM v Wallis (£50 million fraud trial) and Coventry v Lawrence (lead case in Supreme Court on litigation funding), KMR v Forsters ($100-200 million loss of Russian oil field exploration rights; construction of contracts) as well as many other substantial cases in the Chancery and Commercial Courts including ongoing litigation relating to SWAPS and Forex Mis-selling Claims.
Aidan Casey QC specialises in heavyweight commercial litigation. He is recommended as a leading barrister in the Legal 500 and in Chambers and Partners for Commercial Litigation and for Civil Fraud, and is renowned for intellectual prowess coupled with a commercial approach.
He has substantial experience of very large claims arising from the recent Libor-rigging events and from related interest rate hedging product sales and is currently instructed in a number of cases in those fields. He also has a particular interest in similar claims arising from Forex-rigging.
His recent reported cases include USA v Abacha (acting for Standard Chartered in an action by the USA against the son of Sani Abacha, former president of Nigeria), the Aeroflot v Berezovsky litigation, Alternative Power Solution v Standard Chartered (seminal Privy Council banking case on the fraud exception in letters of credit) and AM Holdings v Henderson Global Investors (acting, with Simon Davenport QC, in for the investor in a dispute involving seizure by lenders of a highly valuable site in Leadenhall).
Daniel Lewis specialises in insolvency and company law and civil fraud. He is recognised by Legal 500 as a leading junior in insolvency. He regularly acts for office-holders particularly in relation to claims and interim injunctions for the preservation and recovery of company assets.
His recent reported cases include: the Baha Mar Chapter 11 proceedings (in the Delaware bankruptcy court with Simon Davenport QC), American Leisure Group Ltd. v. Wright (jurisdiction dispute relating to allegedly fraudulent IPO), Hamilton v. Brown (minority shareholder’s petition in respect of group of companies operated by bankrupt whilst disqualified), Re Advalorem Value Asset Fund Limited (in the Gibraltar Supreme Court with Simon Davenport QC, claims in relation to a fraud on UK pension funds).”
Read more about the 3 Hare Court Chambers here: www.3harecourt.com
GRG’s role within RBS was held out as providing support for stressed businesses. However, in a twist to the usual circumstances, especially in the period immediately after the global financial crisis, it was the bank which was distressed and usually not the customer. The systemic questionable behaviour of GRG was first highlighted in the Tomlinson Report in late 2013. The report cited whistleblowers confirming that businesses were targeted and destroyed to generate profits for the bank, with disastrous consequences for the owners. The Company believes that in many cases healthy businesses were destroyed by GRG to generate profits for RBS.