The case would give valuable insight into the biggest failure in UK banking history – but now the bank is attempting to settle
What spoilsports they are at Royal Bank of Scotland. We’ve waited years to hear again from Fred Goodwin and Sir Tom McKillop, chief executive and chairman of the bank when it sank in 2008. Now the board wants to kill the legal case that could see the duo, plus two other former directors, cross-examined in court.
RBS’s attempt to settle with the 9,000 shareholders who claim they were misled into backing the £12bn rights issue in 2008 is not a great surprise. Chief executive Ross McEwan seems sick of a case that reminds the outside world of the state-backed bailout that happened six months after the rights issue was launched in April 2008.
Related: RBS offers £200m to avert court case brought by 9,000 investors