Page 233 - Bank Case Studies
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West
Register?
West Register
was the division
of GRG which
was responsible
for buying and managing the assets of companies within
GRG, including property and equity stakes. In April of 2014 it
was reported that West Register was to be wound up in
response to the adverse claims against GRG.
In October 2016 after a series of leaks containing sensitive
material was published by BuzzFeed News and BBC
Newsnight the lid came off RBS’ turnaround division, Global
Restructuring Group’s activities which the bank had used to
systematically destroy businesses by charging extortionate
fees and aggressive restructuring.
The process whereby these businesses were drained of cash
and stripped of assets was perpetrated by West Register a
division within GRG which acted as a property investment
company responsible for buying and managing the assets of
companies within GRG.
“Derek Sach, head of the now-defunct Global
Restructuring Group, was also a director of West
Register. He stepped down from his role as
director of West Register sometime before
appearing in the House of Commons when he
