RBS faces second shareholder battle as Clydes drafted in

Royal Bank of Scotland (RBS) is already facing a fair share of litigation brought by shareholders , with a £4bn battle brought by investors in a £12bn rights issue looming.

Now a separate group of shareholders are threatening litigation over its restructuring group, which they allege forced small companies out of business in order to make a profit.

Clyde & Co has stepped in to represent the shareholder action group. RBS turned to Clifford Chance to investigate the allegations last year following a report by government adviser Lawrence Tomlinson, which later cleared the bank of wrongdoing.

It is not known if the bank has instructed advisers for the threatened litigation, though it has drafted in Herbert Smith Freehills (HSF) to defend its rights issue case.

Elsewhere, White & Case might also have been feeling a touch of déjà vu after losing again to Enyo Law in a battle between a group of oligarchs.

It followed the firm’s removal in January from the $2bn litigation between Ukranian Victor Pinchuk and his rivals Gennady Bogoliubov and Igor Kolomoisky, represented by Enyo, in January.

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