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Judge confirms that RBS cash call case need not go to trial

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Judge confirms that RBS cash call case need not go to trial

A U.K. judge said there need be no trial over civil proceedings brought against Royal Bank of Scotland Group Plc by a group of investors seeking reparation over the lender's controversial £12 billion rights issue in 2008, Sky News reported June 7.

The judge's decision means RBS avoids the prospect of former CEO Fred Goodwin being forced to testify in the case and comes after the bank reached a £200 million deal with the RBoS Shareholder Action Group. Some 87% of claimants by value have accepted the offer, and a lawyer for the shareholder group said the other 13% are expected to follow suit.

Anyone wishing to apply to pursue the case at trial was given until July 28 to do so, according to the report.