RBS’s Global Restructuring Group: Options Available



The effects of the actions of GRG, now partially admitted by RBS, have been catastrophic and affected many lives in every sense.

We at Bell & Company have assisted many companies and more importantly many individuals who have come under the remit of GRG mainly since the 2008 crash. In our opinion the unit was not fit for purpose and was a ‘rudderless ship’ still reeling from the consequences of the crash and the disastrous management of RBS in the period 2000-2008.

This in turn lead to policies which defied logic along with short term decisions that were based on damage limitation with the use of the guise of ‘cost of capital to Bank’, breaching whatever covenant that was deemed to be relevant to GRG’s individual arguments, all with the misguided hope that situations could be resolved in the Bank’s short term dash for cash and profit at the real personal cost to customers in both monetary and health terms.

The apology and the provision of £400 million (£100 million of costs) to compensate those who have suffered here is a start, but we will see how that pans out. Too little too late is my initial opinion and how the scheme will work is vague to say the least. Bell & Company has seen at first hand the real cost of GRG & RBS’ actions here.

There have been many good people and businesses destroyed here in every sense. The real human cost is most concerning to this day some 8+ years after the crash. There are the obvious signs and examples of people’s financial ruin but we have seen firsthand the devastating effect of peoples’ personal lives and in many instances their health.

Devastating Consquences

There are instances of real physical health problems and a lot of mental health suffering, that cannot be under estimated and is ongoing. In nearly every instance all of the people we have seen and worked and work with are good people who made entrepreneurial decisions with the support and pressure from lenders ‘over keen’ to sell loans and lend on terms that would definitely not be seen as prudent.

Yes the financial loss is there for all to see but the Health loss and cost in all this is immeasurable. As a State owned body now, the politicians are strangely quiet on this, but maybe we should not be too surprised or disappointed by their inaction as they seem to be more embroiled in self publicity and social media status’.

We continue in our work for all clients who face financial woe in whatever form. Many of those affected by GRG and other such financial institutions have adopted the Legal challenge route and some will make representations to the RBS compensation scheme and we wish you well.

A word of warning though – deep pockets and patience on a long haul are needed. Our legal friends need focus on the real matters before them and Banks across the board will fight to protect themselves and in playground parlance ‘their dad is bigger than your dad’. They have very deep pockets and for those making the decisions, it is not their money.

Mediation in whatever form is often the very best way to put an end to such issues and it often helps people get on with their lives after years of suffering. Our legal friends are not always keen on this but resolution is needed for everyone here. It’s the ability to talk, without weakening a position, openly to determine what both parties reasonably want. Bell & Company act for hundreds of clients across Europe and can help and advise on your options even if you feel there is only one option, the path you are on.

Generally the Banks want to deal with the mess before them and were not individually involved in issuance of some of the crazy unsustainable lending, but they are human and have a job to do.


To conclude:

  • A crazy financial market and subsequent crash with no real Regulator in place has left many fine people in desperate situations. Yes customers should possibly not have borrowed the money but the Banks definitely should not have lent that money.
  • The losses and costs to businesses and people is immense. The fear people continually live in and health issues caused by the conduct of Banks and their various departments will never be accounted for, but it is huge.
  • The provision of compensation and the option of legal action is not to our mind that attractive nor in most cases realistic.
  • If you are still involved/trapped in your personal issues with Banks in whatever form, be they Personal Guarantees etc, as the old Orange ad used to say ………..’IT’S GOOD TO TALK’. Call us at Bell & Company for a Free no obligation chat and maybe take a different perspective on your situation – even if it is not good!


Good Luck and Keep Well





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