The Royal Bank of Scotland (RBS) has settled with care home provider, Westgate Healthcare, over allegations of mis-selling of an interest rate swap. It is understood from reports that the bank paid more than £30m in damages out of court to the firm; however, it has admitted no liability. One expert has suggested that RBS is facing over 40 legal cases over swap mis-selling; the bank has declined to comment.
The Royal Bank of Scotland (RBS) has settled with care home provider, Westgate Healthcare, over allegations of mis-selling of an interest rate swap. It is understood from reports that the bank paid about £10m in damages out of court to the firm; however, it has admitted no liability. One expert has suggested that RBS is facing over 40 legal cases over swap mis-selling; the bank has declined to comment.