LEXLAW Solicitors & Barristers
In yet another example of disclosure wrongdoing, The Lawyer’s Tabby Kinder reports that Dentons and RBS have been accused in the High Court of deliberate non-disclosure of documents…
RBS announces a New Complaints Process and Complex Fee Refunds for SMEs in their GRG division between 2008 to 2013. This process has serious flaws.
SMEs who claim they were mistreated by Royal Bank of Scotland’s turnaround division, GRG, await to see if the City regulator will set up an FCA-agreed GRG compensation scheme.
The Times reports that Wenta, a company that supports new businesses, is suing RBS and NatWest for mis-selling a complex financial product. The banks sat on Wenta’s board and encouraged the deal, despite it being a disastrous one that cost the company over £500,000.
Lexlaw, Wenta’s lawyers claim the banks misled the company about the risks involved and have been slow to resolve the dispute. While several other banks have settled similar cases, RBS and NatWest have resisted, forcing Wenta to take legal action. The case is currently undergoing mediation, and a settlement may be reached soon.
Reports surface that Mark Spurin will take charge of the RBS GRG Review compensation scheme for ‘impacted SME’ victims.
The Royal Bank of Scotland (RBS) is reviewing its past sales of 1,800 Enterprise Finance Guarantee (EFG) loans to small businesses, following concerns that RBS did not properly explain…