Key Legal Milestones Achieved to Date
1 May 2019: Court Proceedings Issued in High Court, London
Claim Forms #1 and #2 Issued totalling 144 Claimants
30 July 2019: Formal Defence Received from The Bank
15 October 2020: Third Claim Form Issued in High Court
Claim Form #3 Issued totalling 365 Claimants
14-16 December 2020: First Case Management Conference Scheduled in Court
Legal, Funding and Management Team
Counsel: Andrew Onslow QC, Lisa Lacob (3 Verulam Buildings)
Solicitors: Michelmores LLP
Litigation Management: RGL Management
Litigation Funding: Bench Walk Advisors
ATE Insurance: In place
Summary to Date
Total Claimants Lodged on the Claim Form:
509
Total Number of Individual Loans:
867
“RGL’s claim is a very strong one and we are pleased to be able to assist.
Our investment will ensure the expenses of bringing this claim and of insuring against adverse costs are covered. We are confident RGL will be able to obtain redress for its group members.”
Adrian Chopin, Managing Director, Bench Walk Advisors
“It’s a great achievement by RGL to add so many new claimants to the ongoing litigation and is testimony to their expertise in this area.
“The VM RSG will continue our work in assisting victims of Clydesdale Bank and NAB on a number of fronts, one of which is backing the RGL group action as the route to a recovery of serious losses suffered by fixed rate TBL borrowers at the hands of these banks.”
Ian Lightbody, Chairman and Founding Member of the Virgin Money Remediation Support Group
“With the first court date now on the horizon, we are more confident than ever of securing the hundreds of millions of pounds in compensation owed to Clydesdale and Yorkshire Bank customers”.
James Hayward, CEO, RGL Management
“This is the first multi-party claim against a bank by its customers since the financial crash. We are confident this action will secure substantial compensation for the claimant group.”
Garbhan Shanks, partner at Michelmores