Royal Bank Of Scotland Share Discussion Threads

[tfergi] 08/6/2017 07:13

Money has been set aside for the court case against RBS hasn't it?

[chinese investor] 07/6/2017 15:24

"Mr Jonathan Nash QC, who is acting for the claimants, said that a “significant” proportion of those who had not yet agreed to the 82p offer that was made last month are expected to do so before a July 4 deadline.

Any hold-outs will then have until July 28 to tell the court that they want to resurrect the trial - but they will have to provide evidence they have the funding to proceed with the case."

[chinese investor] 07/6/2017 13:22

"Judge Robert Hildyard said the minority of rebel shareholders could apply for the trial to resume if they could prove they had sufficient funding by the end of July."

[pal44] 07/6/2017 11:17

Leeds gone in Purdah ! interesting he may be a political hack lol

[juju44] 07/6/2017 09:09

I was not part of an action group. Can I get any compensation ?

[chinese investor] 07/6/2017 08:49

juju44,
Probably not but you can always try -

[juju44] 07/6/2017 08:41

I bought shares in the rights issue but have not joined any group in the legal case Can I get any refund ?

[chinese investor] 07/6/2017 08:34

COURT 15
Before MR JUSTICE HILDYARD
Wednesday, 7 June 2017
10:30
TRIAL LIST
Part Heard
HC-2013-000484 RBS Rights Issue Litigation

[smurfy2001] 06/6/2017 19:06

Time the CEO went what a disgrace!

--

RBS spends £1bn battling its own shareholders over rights issue

Royal Bank of Scotland has racked up a £1bn bill fighting its own shareholders over its disastrous 2008 rights issue after the taxpayer-owned lender finally reached a settlement with hold-out investors to escape an embarrassing High Court trial.

[chinese investor] 06/6/2017 17:02

Tis a mystery !
A billion pound loss !

cfc1 (RBS) 6 Jun '17 - 15:48
wonder why RBS is getting smashed today!?

[cfc1] 06/6/2017 15:48

wonder why RBS is getting smashed today!?

[chinese investor] 06/6/2017 15:14

I suspect Diane Abbott has been totting up the numbers for the Action Group !

[maxk] 06/6/2017 14:59

Anyway...two days to go and the whole lot will be sorted.

Auntie Treesa or Uncle Corby .. what a choice

[maxk] 06/6/2017 14:56

Everyone's gone to the moon to see Elvis And leeds.

[g1945] 06/6/2017 14:55

Yes, a bit of a shambles now. Too many things hidden from us. Too many deals made behind closed doors. At this rate we'll end up having to start an action against them!

[smurfy2001] 06/6/2017 14:54

This site is like a ghost town.

[chinese investor] 06/6/2017 14:47

I can't help but notice the Share Price has dropped 2.7% as a result of this settlement !

i.e. a loss of £900 million !

[cfc1] 06/6/2017 14:46

has everyone disappeared?

[chinese investor] 06/6/2017 14:35

So we've settled for £200 million and we've (settlement 82p) been told we have to pay a £85 million bill (legal costs plus "after the event" insurance) !
RBS waived the rights to recover the costs of the earlier settlers (settlement just over 40p) and we are not liable for them !
I'm assuming the cost of the "after the event" insurance was £7.5 million and so we might be paying around £30 million in the event of the settlement !
Two years ago the estimate for our total (i.e. us and the earlier settlers) legal costs to the end of the trial was £15 million !

So that'll be around a bill for £45 million - so where did they get £85 million from ?
I'm assuming RBS won't be chasing us for their own costs !

[chinese investor] 06/6/2017 13:36

Could be interesting !

COURT 15
Before MR JUSTICE HILDYARD
Wednesday, 7 June 2017
At half past 10
TRIAL LIST
Part Heard
HC-2013-000484 RBS Rights Issue Litigation

[g1945] 06/6/2017 13:31

Looks like it's all over - again!

[chinese investor] 06/6/2017 12:11

On The Other Hand........

Royal Bank of Scotland Group (LON:RBS) and former disgraced boss Fred Goodwin are set to face a trial after investors suing the bank over its 2008 rights issue secured funds to push ahead with a court case.

Scottish businessman Neil Mitchell, a former customer and critic of the lender, said investors have found the remaining £2mln of the £7mln needed to convince a judge today they can fund a trial over the £12bn cash call.

Roughly two thousand investors holding out for an offer of at least 92p per share managed to convince a High Court judge to give them more time to find the funding to take the case to trial.

McEwan is said to be trying to protect current shareholders in the bank by not paying too much in settlements. He will find out today whether he has managed to avoid the trial.