Funds Dispute Manx's Right To Represent RBS Shareholders

Law360, London (July 10, 2019, 7:12 PM BST) -- Institutional investors accused of failing to pay their share of costs to secure a £200 million ($254 million) settlement for RBS shareholders argued Wednesday that Manx Capital Partners should not be allowed to pursue the expenses on behalf of other shareholders.

Three Lloyds Banking Group PLC subsidiaries and several other pension and wealth funds being sued by Manx have applied to the High Court for an order stating that the firm is not permitted to advance the claim it has brought against them on behalf of thousands of shareholders in Royal Bank of Scotland PLC.

Roger Stewart QC, representing the funds,...

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