London — A judge has given Royal Bank of Scotland and thousands of investors until June 1 to agree to a deal that would avert a trial over the bank’s £12bn cash call in 2008. RBS has already offered almost £1bn to settle investor allegations that it misled them. If it reaches a deal, RBS will avoid a trial that would rake over its near collapse and force former CE Fred Goodwin to testify. Judge Robert Hildyard on Wednesday adjourned proceedings for the third time to June 7 after days of intense talks failed to yield an out-of-court settlement. He ordered both sides to notify him of any deal by June 1 or face trial. "We must have certainty one way or another ... and that must be made clear," Hildyard told London’s High Court. The trial had been due to begin on Monday. RBS, which is still more than 70% state owned, denies any wrongdoing and says former executives did not act illegally. Jonathan Nash, a lawyer for the claimants, said progress "remains good" and he was hopeful of a sett...
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