Five UK institutional investors challenging the Royal Bank of Scotland (RBS) over a £12bn (€15bn) share issue in 2008 have begun legal proceedings against the bank in a court in London.Pension fund Universities Superannuation Scheme (USS), asset managers Aviva Investors and Legal & General Investment Management (LGIM) and insurers Prudential and Standard Life will commence legal proceedings today in London’s Royal Courts of Justice (RCJ).Today’s case management hearing is a pre-argument meeting of the two parties, with legal cases to be put forward soon after, IPE understands.The legal challenge relates to the institutional investors allegedly being misled at the issue that RBS announced in order to shore up its books after a controversial takeover of Dutch bank ABN AMRO. RBS was bailed out by the UK government only months later.The institutions, represented by legal outfit Quinn Emmanuel, are set to argue that misleading information was provided as the bank asked shareholders to increase stakes in the April 2008 share issue.At the time of issue, RBS was trading at £34.60 per share, which then plummeted to £4.94 by the end of 2008.The bank faced near collapse around six months after the £12bn share issue, only to be bailed out by UK taxpayers, with the government still retaining an 81% stake.The lawsuit is expected to be the tune of £1bn in compensation from the bank.However, when the case was launched in April this year, the exact split among the five claimants was yet to be decided.The case follows on from a group of more than 100 institutional investors making a similar case in April 2013.RBS, USS, Prudential, LGIM and Aviva Investors all declined to comment further on the latest meeting regarding the case.
ANIMAL welfare experts have made an urgent appeal for help after these five pups were found dumped at the side of a road.Donegal Pet Rescue is urgently seeking a foster bitch to help care for the animals.Ryan McCauley from DPR told Donegal Daily: “We got a call this morning to our helpline from a member of the public who was out walking in the Ballbofey area and came across a box. “He told us that there was pups in the box. We met him this morning in Letterkenny pets and we were horrified to see five labrador cross pups approximately one week old inside.”The charity urgently need a foster bitch to help these pups survive as milk from a lactating bitch will hopefully keep them alive at this tender young age.“We also want to appeal to the public for any information on who might of dumped these wee pups in such a manor as to leave them to die and we are very worried for the welfare of the mother of these pups,” said Ryan.“We at Donegal Pet Rescue are horrified that in this day and age with so much help available that someone can be so cruel as to put 5 pups in a box and leave them at the side of the road and God only knows what state the poor mother is in.” He added: “So please if anybody has a lactating bitch that might let these poor wee pups latch on then please get in contact with Donegal Pet Rescue , we will provide you will all the help we can to keep these little darling alive to they are strong enough to wean and hand feed.”Email Ryan on [email protected] or via DPR Facebook page. HORROR AS FIVE PUPS FOUND DUMPED IN A BOX was last modified: October 19th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Ballybofeyletterkennypups abandoned