Clifford Chance refuted Mr Tomlinson’s claims and said it could find no instances of the types of behaviour the businessmen described in his own report, which alleged viable companies had been forced into administration through disproportionately high fees and their assets sold off at below market prices to subsidiaries of RBS.

“The bank has no financial incentive to unnecessarily bring about the customer’s insolvency by imposing unaffordable interest and fees. We found no examples where the bank deliberately charged interest and fees which it believed or knew that the customer could not afford,” said Clifford Chance.

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  • Lawrence Tomlinson