Royal Bank of Scotland faces costly lawsuit

Lawyers for Royal Bank of Scotland sat down last month with representatives of angry shareholders to broker an end to what may end up being the costliest case in British legal history.

They tried to persuade investors to drop claims they were misled into stumping up £12bn (€13.8bn) just a few months before the bank’s bailout in 2008.

But the low-profile gathering came to nought, an outcome that could have huge implications for the recovery at RBS as it risks adding up to £6bn to the lender’s litigation bill, lawyers said.