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RBS faces class action over ‘abuse’ of small businesses

by: Professional Adviser
  • 16/09/2014
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RBS faces class action over ‘abuse’ of small businesses
Hundreds of business owners affected by Royal Bank of Scotland's "turnaround" division for struggling companies are planning to sue the bank through a group legal action.

Small and medium-sized companies who claim that they were exploited and, in some cases, destroyed as a result of the activities of the bank’s global restructuring (GRG) division are joining forces to seek compensation from the lender.

The RBS GRG Business Action Group has appointed Clyde & Co, the law firm, to review allegations that viable companies were forced out of business, the Times reports.

It said that about 800 companies had come forward with complaints.

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