RBS Shares Rights Issue

EightOfHearts wrote: »

As the Bank has admitted liability will I be able to claim for my shares and who should I contact at the Bank or otherwise.

a) the bank hasn't admitted liability otherwise they would be liable for a lot more cash to a lot more people

b) if you didn't join the people taking RBS to court, you can't have a piece of the resulting out-of-court settlement of that action. Feel free to take RBS to court yourself, in a separate action.

DavePollard wrote: »

I would have thought that now RBS has created a precedent by agreeing to pay out they would have difficulty successfully defending any further claims in respect of the Rights Issue. Also it would cost them more money for legal fees.

On the contrary there is no precedent that would stop them defending small claims.

They had an absolutely massive claim brought in court by people who owned hundreds of millions of shares and had the financial clout to threaten long drawn out court action which could have cost multiples of what they settled out of court. It would have been potentially very risky to not settle, and say "well, see you in court then" not just because losing would be expensive but losing on court would open the floodgates to more claims for all and sundry to get nodded through. So, they settled WITHOUT setting a precedent in court.

But if you turn up with your five shares or whatever and say, "hey, pay me out or I'll take you to court", they will tell you to get stuffed, because they know you won't have resources (without bankrupting yourself) to assemble the evidence and fight term in court for years. And you would not have the "big guns" of other wealthy former shareholders alongside you in court because they have already settled and agreed not to go back to court.

You have nothing to loose by testing the water and making a claim maybe through the registrars to see what reply you receive.

Nothing to lose except the time taken to write to the registrars (who don't handle compensation claims, and all claims will be denied by the company)

. If a negative response, then you may wish to consider taking some form of legal action yourselves. Make sure you quote your shareholding number on any correspondence. Good Luck

Yes, good luck to you, but if you think you're going to mount a serious legal challenge when all the other interested parties who had decent quantities of shares have already blown their load, you're dreaming.

Unfortunately if you decide to be an owner of a bank you might lose any of your investment, up to and including all of it. If you then want to sue an international banking organisation that has billions of pounds and government backing... that's a recipe to lose a LOT more than your original stake.