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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Royal Bank Of Scotland Group Plc | LSE:RBS | London | Ordinary Share | GB00B7T77214 | ORD 100P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 120.90 | 121.35 | 121.40 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
22/5/2017 23:36 | Is it all a charade? | maxk | |
22/5/2017 18:29 | "Crucially, Trevor Hemmings, the multimillionaire businessman funding part of the claim, is said to have decided that RBS's 82p-a-share proposal - tabled by the bank's current chief executive, Ross McEwan, on Sunday - was sufficient to justify settling." | chinese investor | |
22/5/2017 18:21 | If you are not a member of the action group is there any chance of any compensation? I lost a huge amount of my savings. I must be blind as I did not know ther was a group you could join. R. | retsius | |
22/5/2017 18:12 | Royal Bank of Scotland is closing in on a £200m-plus settlement with thousands of investors over its ill-fated 2008 cash call - a move that would spare former boss Fred Goodwin from two days of courtroom scrutiny. Sky News has learnt that RBS and lawyers for a shareholder claimant group were nearing an agreement that could bring an end to years of pursuit over the £12bn rights issue launched by Mr Goodwin just months before the lender needed rescuing by British taxpayers. Crucially, Trevor Hemmings, the multimillionaire businessman funding part of the claim, is said to have decided that RBS's 82p-a-share proposal - tabled by the bank's current chief executive, Ross McEwan, on Sunday - was sufficient to justify settling. The trial, which had been due to get under way on Monday morning at the High Court in London, was adjourned to enable both sides to engage in further settlement negotiations. Several uncertainties remained on Monday evening that meant a settlement could not be guaranteed, insiders cautioned. One person said it was possible that alternative funding could be lined up to allow those investors determined to see the trial proceed get their wish. If an agreement can be reached, it is likely to be announced on Monday evening or, more likely, Tuesday. The RBS group has previously settled cases brought by four other shareholder groups Sources said it would probably cost RBS more than £200m based on an 82p-per-share settlement, although the final figure could vary according to interest payments and was unclear. Talks between lawyers acting for both sides continued throughout Monday after RBS doubled the value of its offer to investors, just hours before the trial was due to start. Mr McEwan is said to have personally helped deliver the offer to lawyers acting for the former shareholders, many of whom rank among RBS's current workforce. The proposal represents the latest in a string of last-ditch efforts by RBS to avoid the lead-up to its 2008 cash call being played out in public. Mr Goodwin, who was ousted as RBS's boss as it was being bailed out with £45bn of taxpayers' money later that year, is due to give evidence on 8 June - the first time he will have given a full account of the crisis at the bank. Roughly 9,000 small investors, as well as some institutions, have been determined to press ahead with their claim even as a number of other claimant groups settled for just over 40p-a-share. Some members of the RBoS Shareholder Action Group have become increasingly willing to settle but are said to have been holding out for a deal worth at least 92p-per-share, just under half of what investors paid in the ill-fated rights issue. Others, however, are determined to see Mr Goodwin and his former senior colleagues give a public account of their actions. RBS has reached settlements with four other claimant groups in recent months, representing more than 80% of the total claims by value, and had set aside up to £800m to bring an end to all of the shareholder legal claims. The investors allege that RBS, under Mr Goodwin's leadership, misled them about the state of the bank's finances when it raised billions of pounds from them just months before it had to be rescued. Mr Goodwin, along with Sir Tom McKillop, the former RBS chairman, are named alongside the state-backed bank as defendants in the case. The Government continues to own more than 70% of the bank, and there is little prospect of it ever recouping the money it paid to avert its outright collapse. Most of the 27,000 members who were originally part of the RBoS Shareholder Action Group were ordinary retail investors who lost money after subscribing to the new RBS shares. To date, more than £100m has been spent by the bank defending the claims, a bill which includes the legal costs of Mr Goodwin and other former directors. Those legal fees have drawn criticism from investors and politicians, but were defended by Sir Howard Davies, RBS's chairman, at its annual meeting earlier this month. | chinese investor | |
22/5/2017 15:43 | imagine if Corbyn won the election!!!! whats the odds on that! disaster for the Armed Forces and I guess the economy? | cfc1 | |
21/5/2017 12:02 | This made me cry. RBS investors die before court case About 4,000 Royal Bank of Scotland shareholders have died while waiting to take on the bank’s former directors in a legal action that was launched five years ago but will be heard in a court case beginning tomorrow. | mondaytuesday | |
19/5/2017 15:56 | Ex-RBS boss Fred Goodwin returns to spotlight in £520m court battle Controversial banker will be forced to publicly account for bank’s £45bn bailout in case brought by 9,000 shareholders "Goodwin’s defence costs will be covered by the bank and have already reached £6.5m – part of the colossal £125m legal bill RBS has incurred so far." | maxk | |
19/5/2017 15:30 | Lols all it took was the FED to say we will print some more free cash for you guys. Trillions later and the economy is dire with consumers drowning in debt. Solution? Print more and give to the same old people in the mkts. They couldn't let it fall 2% before dropping their pants so just go long the US index's | dope007 | |
19/5/2017 13:48 | That doesn't mean they are not holding them though. ECB warning of loan quality on "some" banks books today | dope007 | |
19/5/2017 09:11 | Polar great posts. Don't "step back" your comments are always good value! I think the RBS case will take months and perhaps even sept will be too quick given how slow gov't depts. move and she has only just taken role + all other stuff they deal with. wonder what the latest is on W&G ?! | cfc1 | |
19/5/2017 08:34 | Thanks gcom2. | broadwood | |
19/5/2017 08:28 | he's back in mid June Broadwood | gcom2 | |
19/5/2017 08:24 | leeds is in rehab. | maxk | |
19/5/2017 08:17 | Why doesn't Leedskier post here any more? | broadwood | |
19/5/2017 08:05 | "The bank has settled with about three-quarters of the 27,000 claimants, leaving just the one group of shareholders holding out, seeking about 520 million pounds at trial. Additional talks earlier this month failed to reach a final deal" | chinese investor | |
18/5/2017 21:19 | For info, from the Washington Examiner. Right at the end, RBS comes under the Foreign Claims Settlement Commission. The Senate voted Thursday to confirm Rachel Brand as associate attorney general. Senators voted 52-46 to support the nomination. Once she's sworn in, Brand will be the third-ranking official at the Department of Justice. An Iowa native, Brand just finished serving on the Privacy and Civil Liberties Oversight Board, an independent, bipartisan agency within the White House that works to finds the balance between civil liberties and privacy during the fight against terrorism. She has been in the department before, and worked her way up to assistant attorney general for the Office of Legal Policy under former President George W. Bush. Last month, the Senate Judiciary Committee moved her nomination to the full Senate in a party-line vote, 11-9. The Office of the Associate Attorney General also oversees the Antitrust Division, the Civil Division, the Environment and Natural Resources Division, the Tax Division, the Office of Justice Programs, the Community Oriented Policing Services, the Community Relations Service, the Office of Dispute Resolution, the Office of Violence Against Women, the Office of Information and Privacy, the Executive Office for United States Trustees, and the Foreign Claims Settlement Commission. Unquote | polar fox | |
18/5/2017 20:29 | RACHEL BRAND Happy to report that she was confirmed this afternoon, by a 52-46 vote. Someone, presumably her, has already edited her Wiki page to reflect this, although, under 'taking office' it says 'TBD', but we have to assume she'll be behind her desk ASAP. I'll be pleasantly surprised if the fine is settled before late July - much more likely, IMO, that it will be some time after Labor Day, Sept.4, when many folk traditionally return from their summer hols. Personally speaking, it's been very interesting monitoring the progress of Sessions, Rosenstein and Brand through the Senate, but I'll be stepping back some from here, patiently awaiting RBS developments on every front. | polar fox | |
18/5/2017 20:00 | "Lawyers warn it could take another seven years to legally establish any RBS liability and quantify any damages after judgments are appealed if the bank loses the case" | chinese investor |
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