"RBS put some "good and viable" businesses into default so it could make more profit, it is claimed in a report by government adviser Lawrence Tomlinson to be released on Monday."
"The shadow business secretary, Chuka Umunna, said: "The claims made by Lawrence Tomlinson against RBS' Global Restructuring Group are extremely serious indeed.
"To artificially distress otherwise successful businesses in order to seize their assets and profit would be utterly scandalous and deplorable. It's right that the FCA [Financial Conduct Authority] and PRA [Prudential Regulation Authority] look into the claims as a matter of urgency."
BBC business correspondent Joe Lynam says that if it is shown that RBS had a deliberate strategy of liquidating their own customers, it could open the bank to extensive legal action."
http://www.bbc.co.uk/news/business-25077124
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a friend of a friend had a business trading in high end cars - 100k plus, and was doing fine despite the economy - then his overdraft got pulled and he had a yard of prestige cars locked up by the bank and no business. worse yet, he was selling a friends ferrari as a favour at the time, and that got locked up as well.
my friend couldn't fathom the logic at the time - maybe now he has an answer
"Royal Bank of Scotland’s controversial Global Restructuring Group, which has been accused of forcing businesses to the wall so they could be stripped of their assets, also demanded that companies falling within its remit stopped paying tax"
http://www.independent.co.uk/news/business/news/rbs-told-customers-...