RBS faced the criticism in a case management hearing held last Wednesday. HSF is acting for the bank in the dispute over the rights issue, brought by a group of former RBS shareholders who claim they were misled into participating. The HSF team is headed by partners Adam Johnson, Simon Clarke, Kirsten Massey and James Norris-Jones and it is believed that the firm’s total fees for its work on the case will hit the £100 million mark. The team is also seeking that claimants contribute £11 million into a trust account to fund RBS’ costs if it loses the case.
Last remaining shareholders
The shareholders, are represented by Signature Litigation partner Graham Huntley and are the last remaining claimants after groups advised by by Quinn Emanuel Urquhart & Sullivan, Stewarts Law and Mishcon de Reya settled for £800 million at the end of last year.
Email your news and story ideas to: [email protected]
