RBS has paid over £500,000 defending Goodwin before court case

Wanted Fred Goodwin

UK taxpayers have paid almost £500,000 in legal fees to defend disgraced former bank boss Fred Goodwin in a case which has not even come to court yet.

The Edinburgh Evening News reports that law firms representing four former directors of Royal Bank of Scotland have already racked up £400,000 in defence costs over a lawsuit brought by shareholders.

And if the case does reach the courts, the final bill is expected to total tens of millions of pounds.

Goodwin’s legal fees are being paid by the bank – which is 82 per cent owned by the state – despite the fact he receives a £342,500-a-year pension from RBS.

It means public funds are effectively being used to defend bosses who led the bank to the biggest state bail-out in British corporate history.

To access the complete Edinburgh Evening News article hit the link below:

Fred Goodwin legal bill costs taxpayers nearly £500k

 

 

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts