Developer Says RBS Had No Reason To Deny Refinancing Plan

Law360, London (May 9, 2019, 3:22 PM BST) -- A property developer has drilled down on allegations that RBS caved to government pressure to run him out of business, saying there was no logical reason for the bank not to refinance his business when it was making a steady revenue stream off of him.

Oliver Morley filed fresh arguments on May 3 expanding his allegations that Royal Bank of Scotland PLC was persuaded by a now-defunct Treasury agency to reject his refinancing plans and transfer his business portfolio to a controversial turnaround unit within the bank. 

The bank said last month that it convinced the Treasury's Asset Protection Agency, which...

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