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 heard in Court

11 October 2021: Second Case Management conference scheduled in Court

Legal, Funding and Management Team

Counsel: Andrew Onslow QC, Lisa Lacob (3 Verulam Buildings)
Solicitors: Fladgate LLP
Litigation Funding: Bench Walk Advisors
ATE Insurance: In place

Testimonials

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

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