RBS Put 'Sword Of Damocles' Over Property Co., Partner Says

Law360, London (October 30, 2019, 7:53 PM GMT) -- The business partner of a property developer accusing Royal Bank of Scotland of intentionally wrecking his business during the financial crisis testified Wednesday that pressure put on the business by the bank over its £75 million loan was akin to a precarious "sword of Damocles" hanging over its head.

During the second day of the High Court trial, Matthew McConville said he worked "hand-in-glove" with claimant Oliver Morley to build up the business, Morley Estates. McConville told the court that for years the business had a positive experience working with RBS, but that changed in late 2007, about the time its...

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