UK’s Clydesdale, National Australia Bank sued over business loans

clydesdale bank. CYBG, tailored business loans, TBLs

LONDON, May 2 (Reuters) – Almost 150 claimants have filed a lawsuit against Britain’s Clydesdale Bank and former owner National Australia Bank in London, alleging thousands of business loans were mis-sold in a potential multimillion pound claim.

RGL Management, a claims management company that represents small or medium-sized (SME) businesses, said on Thursday it expected to add hundreds more claimants to the case in a group claim that could swell to at least 700 by the end of the year.

“Clydesdale’s conduct towards its customers has been utterly disgraceful,” said James Hayward, the CEO of RGL Management.

“We are pleased to be launching this action today to recover the hundreds of millions of pounds in losses owed to claimants. We are resourced to prosecute this matter to a successful outcome for the claimants.”

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