...............as RBS faces court action by small shareholders

As if the new Royal Bank of Scotland chief executive, Ross McEwan, did not have enough on his plate, the bank will next year face a legal battle that promises to be one of the biggest courtroom showstoppers of 2014. RBS is defending itself and former directors, including Fred Goodwin, against a £4.5billion suit launched by small shareholders. The case could be the biggest banking confrontation since the liquidators of BCCI, which collapsed more than two decades ago, sued the Bank of England The RBS legal battle promises to be a riveting and highly controversial chapter for the bank. It is likely to prompt a rare public appearance by Goodwin, now a virtual recluse. His legal costs, likely to run into millions, will be met by long-suffering taxpayers. The total legal bill is likely to be around £42million, of which a chunk will be used in an attempt to justify the individual conduct of Goodwin and his acolytes. .......Read more here