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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Royal Bank of Scotland Share Chat (RBS)



Share Price: 261.60Bid: 261.40Ask: 261.60Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.20Spread as %: 0.08%Open: 266.20High: 266.20Low: 258.90Yesterday’s Close: 261.60


Share Discussion for Royal Bank of Scotland


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MrBubbles
Posts: 183
Off Topic
Opinion:No Opinion
Price:261.60
RE: Settlement
Sat 20:48
M1k3y , i did get the email that you sent me this morning from RBOS as well .

Out of interest how much fees have you paid to date to the RBOS fund for legal fees ?

Cheers
 
M1k3y
Posts: 1,316
Research
Opinion:No Opinion
Price:261.60
Settlement
Sat 16:01
M1k3y
Posts: 1,316
Answer
Opinion:No Opinion
Price:261.60
RBS
Sat 12:12
Sorry to hear that Bubbles.
I am surprised that the settlement did not include RBS paying the fees of the groups Solicitors etc.
40%-45% Is a substantial chunk to lose , on top of the fees that claimants had already paid to the group.
Will be interesting to see what exactly the final percentage payout figure to claimants is and who exactly is going to be paid what in the way of fees .
MrBubbles
Posts: 183
Off Topic
Opinion:No Opinion
Price:261.60
RE: RBS Group
Sat 11:55
Thanks for your email Milky . As expected not a single word in it about the late claimants ......Luckily got through on the RBOS line and was told that the offer does not include the latecomers ....so that news has just put me out of misery over the whole of this bl888dy affair .

Cheers
M1k3y
Posts: 1,316
Research
Opinion:No Opinion
Price:261.60
RBS Group
Sat 10:44
Looks like they are going to settle but there may be some unhappy members of the group as they are saying they will be taking 40 % - 45% of the settlement figure to pay fees etc ?
MrBubbles
Posts: 183
Off Topic
Opinion:No Opinion
Price:261.60
rest of FT article
Sat 08:39
What the UK, and other countries, have received is a great deal of money. Last year, the Bank of England estimated that global banks had paid $150bn in fines over the prior five years, in connection with not just the financial crisis but also mis-selling and price-fixing scandals. This is enough to hurt, and likely to change, future behaviour. The BoE also points out, however, that the fines are roughly equivalent to the amount of cash the banks have had to raise to meet higher post-crisis capital requirements. Taking funds out of banks with fines while simultaneously insisting that they are underfunded threatens to become a pointless circular exercise. Furthermore, the dependence on fines rather than prosecutions or civil suits leaves the question of personal responsibility painfully unresolved.

There is always the risk that shareholder lawsuits will create moral hazard. The stock market is a irreducibly risky place. The idea that when a business falls apart its owners can seek compensation in the courts could make shareholders less cautious — and lack of caution is precisely what financial crises are made of. If the cases do go to trial, though, there is at least the compensation that arguments will be heard and a judgment reached.

The RBS shareholders may settle before Mr Goodwin enters the court. This might be in both sides’ best interest. But it will not bring any sense of resolution to a country that is still living in the shadow of the financial crisis.
MrBubbles
Posts: 183
Off Topic
Opinion:No Opinion
Price:261.60
RBS court case ; FT view
Sat 08:39
The financial crisis lives on in UK courtrooms

The civil suit against RBS is about accountability as well as money

RBS investors hold out for Goodwin’s day in court

The law tries cases and metes out punishment for a number of different reasons. Securing restitution for damage done and deterring future misdeeds are the most respectable and most often cited. There is a subtler reason, though, one that is easily forgotten. Justice often consists in simply setting the record straight, in saying what happened in a clear, public and final way. If this last element is neglected, old wounds can remain open.

The financial crisis, and in particular the shareholder suit against the Royal Bank of Scotland, are an excellent example. Certainly, the RBS shareholders are after money. The holdouts who have refused offers of a settlement from the bank are seeking £700m, claiming that they were misled by the bank ahead of its £12bn rights issue in 2008, which was quickly followed by a state bailout and the further collapse of the shares. Several of them, however, say that they also want fundamental questions answered publicly. “It’s about seeing the ex-directors in court and . . . learning once and for all what happened,” one said.

The shareholders would, more specifically, want to see former RBS chief executive Fred Goodwin in the dock. Mr Goodwin has, to a degree, been punished already. He lost his job, of course, and his knighthood was stripped away five years ago. After a fight, he was forced to accept a reduction in his pension. But, aside from an appearance in front of a Commons inquiry, he has not had to answer publicly for what happened at RBS or his role in it.

There is an important sense that the RBS case is not about one man or one bank, but the country as a whole. The taxpayer is still directly involved. RBS is almost three-quarters owned by the state, which has a cost basis in its shares of 502p. The shares are currently at 260p. The government has recently acknowledged that it may never be made whole. And nearly a decade after the crisis, no senior UK bank executive has yet been a defendant in a civil or criminal trial as a result of the sectors’ decimation by bad loans, risky funding and ill-structured products. The country has some of the same hunger for justice as the RBS holdouts.

honestbob
Posts: 1,113
Off Topic
Opinion:No Opinion
Price:261.60
Neil mitchell
Fri 17:30
I have no more information than anyone else but i cant belief RBS defence can be that robust

They should have all paperwork records etc to the issue and should be in position to simply say we can prove our case lets go to court - end of

Either they have no faith in the British judicial system or not lot confidence they are rich -just my opinion
M1k3y
Posts: 1,316
Answer
Opinion:No Opinion
Price:261.60
Bubbles
Fri 17:16
TY
MrBubbles
Posts: 183
Off Topic
Opinion:No Opinion
Price:261.40
Milky
Fri 16:36
oakwood2a@yahoo.co.uk




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