Taxpayers face £100m legal bill for ex-RBS bosses



Royal Bank of Scotland has racked up more than £100 million in legal costs to defend claims it misled investors over a £12 billion fundraising.
Taxpayers will ultimately foot much of the bill for defending the Edinburgh-based bank because it is 73 per cent owned by the UK government.
Investors allege they were misled about RBS’s underlying financial strength when they backed its £12bn rights issue in the spring of 2008, just months before the lender almost collapsed.
The rights issue came after what is now widely seen as a disastrous takeover by RBS of Dutch bank ABN Amro – while Goodwin... read more

 
29 September 2016 in Business, Views: 118
Source: Scotsman
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