Cherie Blair (Booth, in court) has been hired as a special adviser by Merseyside and North Yorkshire to pursue their claims against Royal Bank of Scotland.
The class action suit in New York is being brought on a ‘no win, no fee’ basis by US lawyers Coughlin Stoia and the two local authorities, who have seen their pension fund investment in RBS drop by over £20m, are joining the action.
So Cherie won’t be fronting the case, not that she’s qualified to, being a civil rights lawyer.
This one could take years and cost the UK taxpayer, which owns a majority of RBS, maybe even 95 per cent, tens or even hundreds of millions.
But will Cherie take her chances with Coughlin Stoia or just pick up a big fee for advising Merseyside and North Yorkshire?
The latter one suspects.