Main Menu

Case in court

Former RBS executive facing trial over claims bank ruined firms

RBS hq

RBS denies claim against GRG

A trial is due to begin on Monday of a senior Royal Bank of Scotland executive who headed the unit alleged to have seized assets from small firms so it could sell them for a profit.

Derek Sach, 71, led the bank’s Global Restructuring Group (GRG), which was a focus of claims over misconduct by the bank in the run-up to the 2008 financial crisis.

Property developer Oliver Morley, a former RBS customer is making a claim against GRG over his £125m property empire. The case will be heard at the Royal Courts of Justice.

Mr told the Mail on Sunday: “The case is costing me millions but it is worth every penny. It was a complete robbery. I cannot rest until I have some form of justice.”

RBS said that it will defend the claim “‘vigorously”.



Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.