Tag: RBS

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Court of Appeal grant permission to appeal based on LIBOR and Negligent IRHP Review arguments

The Court of Appeal has allowed WW Property Investments Ltd to appeal against NatWest over mis-sold interest rate derivatives and the negligent conduct of the IRHP review. This landmark decision challenges banks’ redress offers and recognition of consequential losses, encouraging affected customers and SME victims to seek legal advice for potential claims. The ruling could impact limitation periods and existing non-advisory defenses employed by banks, with major implications for financial services litigation and previous IRHP Review outcomes.

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The Lawyer: Dentons and RBS accused of non-disclosure of GRG files in High Court claim

Dentons and RBS face High Court allegations of deliberate non-disclosure of critical documents related to the controversial Global Restructuring Group (GRG), disrupting fair trial processes. This follows leaked “Dash for Cash” documents exposing RBS’s serious breaches of disclosure duties in Wall v RBS litigation, where RBS allegedly forced Opal Property Group into financial distress. Previous cases have also highlighted RBS’s poor disclosure practices and lack of candour, raising ongoing concerns about RBS’s litigation culture and compliance with court orders.

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Flaws in RBS ‘New Complaints Process’ and ‘Complex Fee Refund’ – RBS GRG West Register compensation scheme examined

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.

RBS announce GRG Compensation Redress Review Scheme Complaint FCA LEXLAW Solicitors Global Restructuring Group Royal Bank of Scotland

RBS Launches a New Complaints Process and Refund of Complex Fees for SME customers in GRG

RBS, with FCA agreement, has introduced a new complaints process for SME customers transferred to its Global Restructuring Group (GRG) between 2008 and 2013, overseen by independent third party Sir William Blackburne. The bank also announced automatic refunds of complex fees charged to these customers, aiming to address past failings in communication, complaint handling, and service. SMEs are urged to seek urgent legal advice to protect rights from limitation.

RBS GRG Review Litigation Lawyers London UK Review

FCA Statement on the FCA’s review of Royal Bank of Scotland’s treatment of customers referred to its Global Restructuring Group

The FCA’s review of RBS’s Global Restructuring Group (GRG) found no widespread evidence that RBS deliberately engineered transfers of viable businesses to GRG or acted as a “shadow director.” However, the review revealed systemic failings including poor communication, inadequate turnaround support, undue focus on pricing and debt reduction, poor valuations, conflicts of interest linked to West Register, and unfair complaint handling. Over a third of SMEs transferred to GRG faced insolvency regardless, but many also suffered inappropriate treatment.

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Litigation: What is Unlawful Means Conspiracy?

Unlawful means conspiracy is a civil tort where two or more individuals collude to harm another using illegal methods. Victims of such misconduct may find this tort useful in seeking compensation for acts that might not be actionable independently. By understanding unlawful means conspiracy, individuals can assess their legal options and protect their rights against potential wrongdoing.

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The Times: FCA ‘will not rush’ after receiving delayed RBS GRG report

The FCA has stated it will not rush the delayed report on RBS’s Global Restructuring Group (GRG) due to the complexity and importance of the investigation. The report, highly awaited following allegations of misconduct by GRG, aims to thoroughly assess RBS’s treatment of SMEs and the bank’s recovery practices.

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The Times: Firms seek payout for ‘mistreatment’ by NatWest & RBS GRG division (GRG Review Scheme)

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.

Primary Keywords: RBS Royal Bank of Scotland Interest rate hedging products (IRHPs) Financial derivatives Mis-selling Litigation Settlement Businesswoman Social care services London Secondary Keywords: Complex financial products Regulatory oversight Consumer protection Financial harm LEXLAW Solicitors & Barristers High Court IRHP review scheme Financial Conduct Authority (FCA) Break costs Derivative payments Long-Tail Keywords: RBS mis-sold derivatives to businesswoman Lloyds Bank financial derivatives lawsuit Social care provider sued RBS for mis-selling IRHP mis-selling scandal Lloyds Bank settlement over complex financial products Financial harm due to mis-sold derivatives Regulatory oversight of financial institutions Consumer protection in the UK LEXLAW Solicitors & Barristers legal case London-based businesswoman wins lawsuit against RBS

LEXLAW Case Study: RBS pay £1m to settle derivatives mis-selling claim with social care provider

RBS has agreed to a £1 million settlement with a businesswoman who accused the bank of mis-selling complex derivatives. The case highlights banks selling unsuitable financial products to businesses. RBS initially denied wrongdoing but eventually agreed to the settlement, which includes repayment of derivative payments, break costs, and suspended payments. The businesswoman’s business was negatively impacted by the mis-sold derivatives, and the case exposes flaws in the Financial Conduct Authority’s IRHP review scheme.

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The Times: Queen’s award winner sues banks over mis-selling

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.