We may be able to help you claim compensation if you suffered a financial loss due to being placed within the Global Restructuring Group (GRG)
Does your company bank with the Royal Bank of Scotland (RBS) and has it incurred a loss after being transferred into the Global Restructuring Group (GRG)?
If the answer is yes, we would like to assist you to claim financial compensation.
What is the Global Restructuring Group (GRG)?
Between 2008 and 2013, the GRG at Natwest and RBS’s was established by the banks as a business support unit for businesses experiencing financial difficulties.
The idea of behind the GRG was to offer its troubled clients extra care and assistance and nurse them back to solvency.
The reality however was much the opposite due to a culture of exploitation where many of the banks customers were treaded unfairly.
Why Do I Have A GRG Claim?
The FCA recently published a report which stated it had, “significant concerns” with how SME customers were treated by the RBS Global Restructuring Group.
The damning FCA report said that the RBS failed to support its commercial customers with an ethical and well thought out turnaround practice.
It also highlighted that the RBS had placed undue focus on pricing increases and debt reduction without considering the long-term consequences to its customers.
More alarmingly, the FCA stated the bank had failed to identify customer complaints and handle them fairly.
The affected companies were charged overly complex fees and was subjected to other treatments which in some instances over burned the company with debt and pushed them in to an insolvent state.
In some instance the RBS disposed of company assets at prices which may have been at an undervalue; selling them off to other companies associated with RBS.
How Much Compensation Am I Entitled To?
The RBS has announced is has set aside a total of £400,000,000 to compensate is SME customers. Within the FCA report it announced there could be as many as 16,000 affected businesses.
Are you one of the many companies affect? Discover how ClaimExperts.co.uk can hep you claim compensation.
Get In Touch Today..
Our specialist banking litigation solicitors are keen to hear from any customers of the GRG.
ClaimExperts.co.uk is a trading name of Smooth Commercial Law Limited. Smooth Commercial Law Limited is a limited company registered in England and Wales, registration number 09954059.
Authorised and regulated by the Solicitors Regulation Authority. Details can be found at www.sra.org.uk. SRA number: 643046
We work on a no-obligation and strict confidential basis.
Unlike other law firms we are also able to offer flexible funding arrangements including damage based fee arrangements and third party funding.
If you decide to move forward using our services, we then work closely with accountants and other experts in order to present your case as best we can.
If you are keen on making a claim against the RBS, you should be aware that time is critical.
Many SMEs may find that too much time has elapsed for them to be able to commence court proceedings.
If you want to make a GRG Compensation Claim with ClaimsExperts.co.uk, just complete our quick no-obligation enquiry for by clicking here.