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Foreign news: RBS misled compensation scheme judge

15 November 2016 4:54PM
Former UK high court judge Sir William Blackburne, who will oversee RBS's compensation scheme for thousands of companies mistreated by its restructuring unit, was previously misled by the bank in a court case over a business dispute, The Times reports. Businessman Mohammed Sarwar challenged RBS in 2000 over default interest charged at 25 per cent. RBS claimed it had never charged this and Blackburne found in the bank's favour. However, in fresh litigation a decade later, the Court of Appeal found information that RBS had provided "misled Blackburne and the customer", and criticised the bank for not correcting the record until November 2009, with the customer forced to litigate again.

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