Lawyers for Royal Bank of Scotland (RBS) shareholders awarded £200m by the bank demanded documents today from the original action group so they could pay shareholders their share of the settlement.
In a High Court hearing today, lawyers for the shareholders instructed by Manx Capital Partners argued that the RBOS Shareholder Action Group should hand over documents relating to the case so that it could verify which shareholders were entitled to a share in the settlement.
A group of RBS investors received £200m from the bank in June 2017 over claims that it misled shareholders over the health of the bank before a rights issue in 2008.
Manx Capital Partners, one of the major claimants, is acting as the delegated manager of the claims against RBS.
It claims that the Action Group, the previous agents for the claimants, has not handed over key information that will allow a financial settlement to be completed, something that is disputed by the Action Group.
The case, which is being heard by Mr Justice Hildyard, will conclude tomorrow.