Whistleblower’s RBS £128m court battle… says troubled bank will dishonour his allegations

This Is Money, 26.02.17


A whistleblower has warned that RBS will try to silence him in a courtroom showdown over its infamous company rescue unit.


Neil Mitchell says his IT firm Torex was pushed into administration by the Global Restructuring Group, which sold it for a song.


He has been fighting a legal battle to prove his case and win £128m – and is due to appear in the High Court today.


But RBS has applied to have his case thrown out. He says it wants to avoid having to disclose embarrassing documents, adding: ‘There will be an army of lawyers seeking to discredit me.’


After he blew the whistle on accounting irregularities at Torex in 2007, it passed into the hands of the GRG and its assets were sold to US private equity giant Cerberus for £204m, which Mitchell claims was less than its value.


He is pursuing Cerberus, KPMG and RBS for damages. RBS said his case had no merit.


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