RBS announced last month that SME customers will automatically be entitled to a refund of the fees that they were charged whilst being managed by the Bank’s Global Restructuring Group (GRG) between 2008 and 2013 following a review by the FCA.

This offer follows on from the payments RBS has made in recent years for the mis-selling of PPI and interest rate swap products which has resulted in £1.8 billion of redress costs.

This article examines possible consequences for SMEs that were in GRG during the relevant period which now are, or have been, in an insolvency procedure.

Philip Jones explains that recent cases have confirmed the need for insolvency office holders, and those appointing them, to take great care to ensure that the appointments are valid.

As was described in our article Invalid Liquidation Appointments the appointment of an insolvency office holder can be fraught with difficulties.