We are a grouping of individuals and businesses, all of whom have suffered at the hands of GRG. We believe that GRG have acted unlawfully and that our members losses can be attributed to such unlawful action rather than to external economic factors.
We have come together to collate evidence and research and pursue avenues for compensation for our members. This includes pursuing our claims in the courts if necessary.
Individually, we have all suffered at the hands of the Bank and are familiar with their strong-arm tactics. By joining together and pooling resources, we can challenge the actions of GRG on a group basis. This means that we can employ the best banking experts, solicitors, barristers and other professionals to pursue our claims and we will have the resources to continue to do so until we reach a judgement by the court.
The Action Group is constituted as a Company Limited By Guarantee and its members are those who have claims against RBS for the actions of GRG. Any legal action taken will be done on the basis which maximises returns for our claimant members. Once the action is concluded and the compensation distributed - the Group will be disbanded.
We are a Not-For-Profit Organisation. We will arrange the funding of the Action on the basis which is most beneficial to our members. In practice, this means raising part of the costs from members in the form of a subscription, based on the size of the claim.
We will review the initial information you send us and contact you with details of the cost applicable to you.
Some potential members want to pursue action against RBS but no longer have the resources to pay a subscription. We are arranging facilities with specialist litigation funders to accommodate such cases as far as possible. This facility will be utilised on a first-come-first served-basis.
Sometimes solicitors organise Action Groups on the American no-win-no-fee model. In our view these are set up primarily for the benefit of the solicitors involved as they will want to take a very large percentage of any compensation award received. In extreme cases, this can be 25% or even more.
We believe that it would be morally wrong for solicitors to benefit unfairly at the expense of our claimants, who after all, have suffered grievously already.
- Be Proactive - By joining the Action Group you are not only taking steps to bring RBS to account for the damage it has inflicted on your business, employees, you and your family but you are also giving vital support to other business people like yourself. At the same time you will benefit from the strength of numbers in the Group.
- Publicity - We are determined to shine a spot light on the completely unacceptable serious misconduct of RBS. Many of our members are happy to share details of the banks strong-arm tactics sharp business practices and misconduct, with the public. We can help to bring your case to the attention of politicians, including your local MP, the local and national media and regulators. Some businesses will want to remain anonymous for as long as possible. There can be several reasons for this. We fully understand this and unless you specifically authorise us to disclose the fact that you are a member, you and the details of your claim will be kept completely confidential. We do not share information with anybody else. We will discuss the issue of confidential confidentiality fully with you.
- Expertise - Given that our membership is comprised of business people who, were it not for the unlawful actions of the Bank would by any measure be regarded as successful, you can see that we have access to a large body of expertise and amongst our members and supporters we have experts in banking law, economists, accountants, solicitors, chartered surveyors insolvency practitioners, public relations consultants and many other professional disciplines. If you can bring your knowledge, experience and professional expertise to the group, we would be grateful for your input and we will discuss the possibilities in this area with you at the very outset.
The Group is controlled by the members. We contract with the solicitors, barristers and other professionals we might need to pursue a successful action. We arrange payment of their bills as they fall due. We monitor and control costs very carefully and in this way we retain the maximum possible compensation for the benefit of our claimants. This is very important. In the event of a negotiated settlement, the Group only considers the best interests of its members. Other groups controlled by lawyers might be tempted to accept too low a settlement in order to conclude the action. Similarly, we will avoid pursuing any action which does not have a good chance of success.
The Group is managed by the Claims Committee. The Committee is responsible for all the strategic decisions of the Group. The committee is comprised of businesspeople and experienced professionals.
We are funding 100% of our own-side costs through a combination of subscriptions and litigation funding. We have total faith in the merits, substance and validity of our claim and its prospects for success. However, we expect any action against the Bank to be defended vigorously. This means that in the event that the Bank were to win in court, we could be liable for some of their costs. We are arranging for insurance cover to protect our members against such an eventuality.
If you feel you have a claim we will need you to give us as much detail as possible about your case by completing our Joining Application.
If your claim has not already been verified, we will need to arrange for this to be done now. This will involve a cost which you will have to pay. We will let you have details of this cost before we proceed with verification.
We will then meet with you to discuss any matters arising in the verification process. If you then decide to join we will discuss the ways you can do this.