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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