Royal Bank of Scotland trial: Majority of shareholders willing to accept bank's settlement offer, court hears

William Turvill
Follow William
Investors Launch £4bn Compensation Claim Against The Royal Bank Of Scotland
The RBS High Court trial was due to commence on Monday morning (Source: Getty)

A majority of claimants suing Royal Bank of Scotland are willing to settle the action, the High Court has been told.

The trial, which was due to kick off on Monday, has been adjourned as RBS battles to reach a settlement with the shareholders bringing the action.

Read more: Vince Cable has slammed RBS' "obscene in the extreme" legal defence costs

Press Association reported from the court that a majority were willing to settle on Tuesday morning.

Jonathan Nash QC, for the claimants, told the court: “The present position is that the majority of claimants have indicated their willingness to accept the latest offer from the defendant.

“There now appears to be a good prospect that within the course of today the remaining claimants, or nearly all, will confirm they will also agree in principle so as to bring a practical end to the proceedings.”

Read more: Shareholders urged to vote out RBS' Davies

Related articles