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Polaris of Enlightenment

Sunday, May 19, 2024

Polaris of Enlightenment

Nigel Farage sues NatWest Group for millions of pounds

The crisis of confidence in banks

Published 15 November 2023
- By Editorial Staff
Major British bank NatWest Group is being sued for millions by Nigel Farage.

Brexit figure Nigel Farage is suing major bank NatWest Group and its former CEO Dame Alison Rose for an undisclosed amount in the multimillion-pound range, as reported by several British media outlets. The lawsuit is a result of the closure of his bank accounts last summer and the severe and false accusations he faced on the state channel BBC.

Sky News reports that they have learned Nigel Farage has instructed London-based Grosvenor Law to assist him in a claim against both NatWest Group and its former CEO Rose.

Farage is expected to demand millions of pounds in damages for the scandal that escalated into a minor crisis for the state-supported lender.

Thus, he begins a formal legal battle not only against the bank but also against Alison Rose. Rose resigned in July this year after admitting she discussed her personal banking affairs with a BBC journalist.

The first legal letters from Farage’s representatives are expected to be sent out next week.

“Banks must be held accountable”

The lawsuit is filed just days after NatWest confirmed that it had canceled most of Dame Alison’s planned severance package of over 10 million pounds. More than 7.5 million pounds in share allocations and bonuses were canceled after the bank declared Alison Rose did not leave the bank in the “correct way”.

The bank further announced that it could not find any misconduct committed by Alison and that she is therefore entitled to payments during her 12-month notice period, expected to amount to approximately 3.2 million pounds.

In a statement to Sky News on Saturday, Nigel Farage comments on the upcoming lawsuit against NatWest Group and Alison Rose as being of principal importance as many others have also endured similar treatment.

– For all their lies and deceptions towards me, and their illegitimate debanking of tens of thousands of innocent people, NatWest and its former CEO, Dame Alison Rose, need to be held to account, says Farage, emphasizing that the goal is to pursue a so-called class action lawsuit.

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