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Ex-RBS boss Goodwin to appear in court

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https://www.theguardian.com/business/2017/may/19/rbs-fred-goodwin-court-bank-bailout-shareholders

 

 

For eight years, Britain’s most vilified banker has kept a low profile. But next week in London’s high court a £520m legal case will force Fred Goodwin into the limelight.

 

Thousands of shareholders in Royal Bank of Scotland are accusing the institution’s former chief executive – along with three former board colleagues and the bank itself – of misleading them when they bought the bank’s shares in a failed rescue attempt in April 2008.

 

Goodwin is scheduled to appear at the high court over two days starting on the day of the general election, 8 June. It will be the first time Goodwin has been forced to publicly account for the bank’s £45bn taxpayer bailout since politicians on the Treasury select committee questioned him in February 2009. It will also be the first time senior bankers have been questioned about their role during the financial crisis in a London court.

 

 


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I am pleased, but there should also have been criminal investigations.

 

RBS was very successful for a period, but it went wrong because they invested heavily in US mortgage assets that were actually worthless. They also ended up with more rubbish investments when they took over ABN Amro with insufficient due diligence.

 

Banks are still taking huge risks and it will go wrong again.


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I visited RBS headquarters on Tuesday morning. In Edinburgh.

 

I was overwhelmed at the size and the luxury of the place and in its grounds. And a wonderful large old house nearby to provide crèche facilities, gym facilities and other staff benefits.

 

Inside the main, modern – lots of glass – building – which is huge – there is an enormous central space which I suppose is the canteen/restaurant. The grounds are like a large park.

 

I was told that Fred Goodwin had his own ATM which was reserved for his use only. I don't know if this is true

 

If you wonder where the money went – go to RBS headquarters in Edinburgh


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Impressive


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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It would appear that RBS are desperate not to go to court

 

Royal Bank of Scotland makes 11th hour bid to settle bitter row with thousands of disgruntled shareholders

 

 

http://www.mirror.co.uk/news/business/royal-bank-scotland-makes-11th-10474640

 

Royal Bank of Scotland has made a dramatic eleventh hour bid to avoid a legal showdown that would have seen disgraced ex-boss Fred Goodwin appear in court.

 

Insiders say chief executive Ross McEwan personally intervened by doubling an offer to investors who say they lost a packet when RBS was bailed out by the taxpayer at the height of the financial crisis.

 

A High Court hearing was adjourned for 24 hours to allow settlement talks to continue.

 

The move, which was agreed by the claimants and the defendants, was granted at a brief hearing in London by Mr Justice Hildyard.

 

 

Something they don't want the rest of the world to hear, perhaps !


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Looks like the investors might have settled and Fred Goodwin and RBS can breathe a huge sigh of relief 1

 

http://www.bbc.co.uk/news/business-40082635

 

RBS investors ready to settle share sale legal dispute

 

A group of small shareholders has reached a settlement with RBS over claims that they were misled about the bank's health before it asked investors for £12bn in 2008.

 

The 9,000-strong RBS Shareholders Action Group has confirmed that it has accepted 82p a share.

 

It is almost double the original offer made by RBS.

 

The case will now go back to the High Court on Thursday where Mr Justice Hildyard will hear if it will proceed.

 

The RBS Shareholders Action Group sent a letter to its members over the weekend recommending the offer - which is less than the 92p a share compensation some investors had hoped to secure.

 

It is also below the 200p-230p that investors paid to buy shares in the rights issue nine years ago.

 


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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