With RBS accused of ‘killing off’ perfectly viable British businesses in order to make a quick buck, the taxpayer-owned bank has appointed City law firm Clifford Chance to look into the matter:
RBS sources confirm asking Clifford Chance law firm to investigate allegations in Tomlinson report
— Laura Kuenssberg (@bbclaurak) November 25, 2013
Scrapbook is not holding its breath on the Magic Circle firm biting the hand that feeds them. Advising them on multi-million (and multi-billion) pound deals, Clifford Chance describes RBS as their “long standing client” and will be in no doubt as to which side their bread is buttered. The firm even advised the RBS subsidiary at the centre of the scandal — West Register.
RBS is accused of deliberately pushing small businesses to the wall — so that their property arm West Register could snap up assets on the cheap.
Collecting millions of pounds in fees … and then getting to investigate the mess when it all goes tits up. Classic City of London.