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, our expert panel would like to assist you to claim financial compensation.
What is the RBS Global Restructuring Group (GRG)?
Between 2008 and 2013, the GRG at Natwest and RBS 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 bank's 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 overburned the company with debt and pushed them into an insolvent state.
In some instances, the RBS disposed of company assets at prices that 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 its 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 affected? Discover how the ClaimExperts.co.uk panel of solicitors can help you claim compensation.
Get In Touch Today.
Our specialist banking panel of solicitors are keen to hear from any customers of the GRG with RBS.
ClaimExperts.co.uk is a trading name of Fairweather Claims Ltd. Fairweather Claims Ltd is a limited company registered in England and Wales, registration number 12783771.
Regulated by the Financial Conduct Authority. Details can be found at https://register.fca.org.uk/. Firm Reference Number 935899
Our expert GRG Solicitors work on a no-obligation and strictly confidential basis.
Unlike other law firms, they 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 panel's services, they then work closely with accountants and other experts in order to present your case as best they 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.