EDINBURGH, Scotland: Edinburgh Evening News, July 3, 2006 - Royal Bank of Scotland is facing a business backlash over its role in the planned extradition of three former NatWest bankers, former CBI director-general Sir Digby Jones claimed.

Sir Digby warned RBS chief executive Sir Fred Goodwin that there were a number of RBS business customers "unhappy" with the way city-based RBS had handled the matter of the "NatWest Three".

The trio, Gary Mulgrew, Giles Darby and David Berminghan are due to face extradition to the US on or before July 17 to face trial on fraud charges linked to the collapse of energy giant Enron.

Sir Digby waded into the row and warned RBS - which inherited the legacy when it bought NatWest in 2000 - that a number of senior executives at some of Britain's biggest companies were planning to protest to Sir Fred.

He said that RBS's apparent refusal to release documents the trio think could halt an extradition would lead to a backlash against the bank. "There are quite a few RBS business customers who are unhappy with its behaviour and they are making representations," Sir Digby said. 

The NatWest Three face charges that they defrauded NatWest in a deal involving Enron. They are alleged to have sold a stake in a Cayman Islands-based business for less than its value. They believe a report by the Financial Services Authority, the Serious Fraud Office and RBS could help force government intervention in the case.

It is believed that the report questions the assumption that the deal price was too low and says a fair price was paid.

Cayman law firm storms into Jersey with merger
 
LONDON, England: The Lawyer, July 3, 2006 - The map of the offshore market will have to be redrawn again following the decision by Walkers to merge with Jersey-based Crills Advocates to create a 33-partner offshore powerhouse with offices in the Caribbean, the Channel Islands, the Middle East and Asia.

The new entity is called Walkers and went live on 1 July. Peter Harris and Julie Melia will remain senior partner and managing partner of the Jersey office, while Grant Stein remains global managing partner of Walkers.