Royal Bank of Scotland is closing in on a £200m settlement with investors over its ill-fated cash call in 2008, which would bring an end to years of fighting.
RBS and lawyers for a shareholder claimant group were nearing an agreement over the £12bn rights issue launched by former boss Fred Goodwin in 2008, Sky News reported. The investors allege that RBS, under 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. The trial, which had been due to start at the High Court on Monday, was adjourned to enable both sides to engage in further settlement negotiations. It is said Trevor Hemmings, the multimillionaire businessman funding part of...
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