RBS sued by luxury residential developer

Royal Bank of Scotland is being sued in the High Court for an alleged breach of a loan agreement involving one of the highest profile residential developments to fall victim to the downturn, Real Estate Capital can reveal. John Morris, the developer behind the luxury Charters scheme near Sunningdale, south west London, is suing RBS for reneging on an agreed banking facility to finance the final construction works at the site in September 2008.