Royal Bank of Scotland is facing a £100m legal claim from a businessman who says he was targeted by its scandal-hit restructuring unit.
Oliver Morley, a wealthy property developer, claims the Global Restructuring Group (GRG) placed him under “economic duress” which resulted in the acquisition of his assets by the bank’s property arm, West Register.
The effect was to “enrich RBS at Morley’s expense” he said. Morley is demanding that an agreement that led to the sale of his properties to West Register be overturned. He is also seeking damages for “intimidation” and “breach of contract”.
