Nigel Farage to launch legal action against NatWest over debanking row
Former Ukip leader seeking millions in damages
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Nigel Farage is to launch a legal battle with NatWest over the debanking row which ended in the resignation of the bank’s chief executive, Dame Alison Rose.
The former Ukip leader said he was instructing lawyers to take action against NatWest Group, with the aim of turning it into a class action.
The banking giant has sought to draw a line under the row by scrapping about £7.6 million in potential payouts to its former boss after she left the company in July.
The banking giant said on Friday that, although there was “no finding of misconduct” against her, she was not considered a “good leaver” and will therefore not receive most of the discretionary parts of her pay package.
She will still get £2.4m for 12 months’ worth of pay and benefits plus around £800,000 for former bonus shares due to vest in March next year.
The scandal erupted when Mr Farage revealed in June that Coutts, which is owned by NatWest, was planning to close his account. He claimed it was due to his political opinions.
Dame Alison’s departure came after she admitted she had spoken to a BBC journalist about Mr Farage’s relationship with Coutts.
In a video posted on X, formerly Twitter, Mr Farage said the bank’s decision was “correct and right”.
He then added: “But this is not the end of the NatWest saga. I’m instructing lawyers today to take action against NatWest bank for what they’ve done, for their breach of confidence, for their lying.”
He also tweeted: “My aim is to turn this into a class action as so many others have been wronged.”
He will begin the legal battle next week, according to Sky News, which reported that he has instructed London-based Grosvenor Law to act for him in a claim against both NatWest and Dame Alison.
The outlet cited an unnamed source as saying Mr Farage could seek millions of pounds for damage to his reputation and to cover his legal costs.
Grosvenor Law declined to comment.