Fresh bank rows in the offing? - part 2

Thursday, 22 December 2016, 6:52 pm

Royal Bank of Scotland might have been hit with bunch of fresh legal claims (see my post from earlier in the week) but yesterday the beleugered bank won its long-running legal tussle with Manchester-based developer Property Alliance Group.

In fact, it really was a comprehensive win for taxpayer-owned RBS, with the bank winning all counts in the UK's first judgement in a civil Libor-related claim.

Still, there was one comment from Justice Asplin about the three RBS witnesses - Scott Nygaard, Mark Thomasson and Paul Walker - that caught my eye.

"I found each of Messrs Nygaard, Thomasson and Walker to be sophisticated, very guarded and at times evasive when giving evidence each having been interviewed extensively both by RBS itself and the relevant regulatory authorities. They were also prone to deliver a message rather than answer questions. Mr Nygaard, in particular, was prone to providing very lengthy answers in cross- examination, designed it seemed in order to obfuscate. I approach their evidence with some caution.

Ouch!..

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