RBS Put Profit Before Relationship, Developer Says

Law360, London (October 31, 2019, 5:06 PM GMT) -- A property developer who has accused Royal Bank of Scotland of wrecking his business during the financial crisis testified at trial Thursday that he believed bankers were happy with his company’s results, even though he had missed loan payments.

Oliver Morley told Judge Timothy Kerr at the High Court that he thought the bank was ultimately satisfied with the performance of his business despite repeated formal notifications that it had missed interest rate payments.

Making his first appearance on the witness stand, Morley acknowledged that he had “trouble digesting information” about the written loan requirements and instead relied upon the word of...

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