RBS Attempts To Deflect New Claims Over Turnaround Unit

Law360, London (January 30, 2019, 8:37 PM GMT) -- RBS urged a London judge on Wednesday to block a property developer from amending his lawsuit over the practices of the bank's controversial turnaround unit amid new allegations that a now-defunct government agency directed the bank to reject the developer's refinancing plans.

Paul Sinclair QC, counsel for Royal Bank of Scotland PLC, said at the High Court that Oliver Morley has submitted “totally new pleadings,” many of which the developer allegedly waited too long to file, in the case challenging the treatment of his company after he entered a £75 million ($98 million at current exchange rates) loan and a £49 million interest...

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