In the wake of allegations that RBS killed or crippled thousands of businesses during the recession as part of a deliberate and premeditated plan, berg’s Alison Loveday speaks to Newsnight.
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The RBS files which were revealed on Monday by BuzzFeed News and the BBC’s Newsnight expose the policies which pushed businesses into the bank’s much feared Global Restructuring Group. The leaked evidence revealed for the first time that under pressure from the government the tax payer owned bank ran down businesses and in the process of doing so added billions to its balance sheet. According to the leaks more than 16,000 firms were sucked into the restructuring unit, many losing their homes, marriages and health alongside their companies and assets.
Speaking to the BBC’s Andrew Verity about the victims of RBS, berg’s Alison Loveday said
“They were a necessary victim if you like, that’s I think how the banks saw it, they knew that most business owners wouldn’t have the mental resilience or the finance to challenge them and they were typically acting alone, so it took quite a long time for people to realise that they weren’t the only ones who had been treated like that’
You can watch the full edition of Andrew Verity’s investigation for Newsnight here
If you have been affected by the activities of RBS and it’s GRG division and believe you are entitled to compensation we urge you to take immediate to progress your claim.