RBS cleared as High Court judge dismisses property developer’s claim it ruined his business

Dismissed: Oliver Morley had claimed RBS's controversial Global Restructuring Group placed him under 'economic duress'

Dismissed: Oliver Morley had claimed RBS’s controversial Global Restructuring Group placed him under ‘economic duress’

A propertydeveloper who was trying to sue Royal Bank of Scotland for ruining his business has lost his case.

Oliver Morley had claimed RBS’s controversial Global Restructuring Group (GRG) placed him under ‘economic duress’, which led to some of his properties being seized by the bank and sold for a profit. But in a High Court judgment yesterday, the claim was dismissed.

Mr Justice Kerr found that RBS did not breach its duty to exercise reasonable care and skill when dealing with Morley, that its actions were rationally connected to its commercial interests, and that the bank did not engineer a default on Morley’s loan.

 

 



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