RBS Wins Quincecare Fight Over Legal Finance Fraud

By Christopher Crosby (May 12, 2022, 12:58 PM BST) -- Investors who lost millions of pounds in an alleged legal financing fraud cannot recover their money from RBS after the top court for overseas British territories ruled on Thursday that the lender does not owe a duty of care.

The court has ruled that RBS did not owe a duty of care to protect the Cayman Islands fund from the alleged fraudsters because the investors were not its customer. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) Justices for the Judicial Committee of the Privy Council rejected an appeal by a fund in the Cayman Islands to revive its claim, which sought to...

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