The Times reports that the campaign group RBS GRG Business Action Group has appointed lawyers Clyde and Co. to review allegations that the bank exploited and in some cases forced people out of business, after more than 800 aggrieved companies came forward. The bank has been under scrutiny since entrepreneur Lawrence Tomlinson, at the time a Government advisor, published a report last year claiming that GRG had deliberately caused businesses to fail by charging unfair fees, in order to seize their assets with its West Register property division – claims denied by RBS. A report commissioned by the bank and compiled by Clifford Chance rejected key parts of Tomlinson’s claims. However, the report has been criticised for its narrow remit and investigations by the Financial Conduct Authority and Serious Fraud Office are ongoing.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.