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Judge queries RBS case costs

A HIGH Court judge has queried a bill submitted by lawyers representing the Royal Bank of Scotland (RBS) and its former chief executive Fred Goodwin.

Mr Justice Hildyard said a £115,000 "statement of costs" - outlined during the latest stage of litigation featuring RBS, Mr Goodwin and shareholders who have sued in a bid to recover investment losses - appeared "disproportionate". The judge said the costs claim would need "more careful scrutiny".

Litigation centred on an RBS share offer in summer 2008 - a few months before the bank was given Government support, said the judge.

Mr Justice Hildyard ruled investors should pay half of the RBS legal bill and said the costs would have to be assessed.

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Finance

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