Peer lifts lid on Fred Goodwin injunction

Details of the super-injunction granted to the former head of the Royal Bank of Scotland, Fred Goodwin, were today exposed by a House of Lords peer.

Lord Stoneham, speaking on behalf of Lord Oakeshott, used parliamentary privilege to argue that the public had a right to know the details that led to the 20bn bailout of the Edinburgh-based bank.

Lord Stoneham of Droxford said in the House of Lords: "Every taxpayer has a direct public interest in the events leading up to the collapse of the Royal Bank of Scotland, so how can it be right for a super-injunction to hide the alleged relationship between Sir Fred Goodwin and a senior colleague.

"If true, it would be a serious breach of corporate governance and not even the Financial Services Authority would be allowed to know about it."

Lord Oakeshott's topical question was read out by his colleague because the peer was in Munich, Germany on Thursday when the authorities allowed him to go ahead.

Lib Dem MP John Hemming used parliamentary privilege in March to reveal Sir Fred, chief executive of the RBS before it was nationalised, had taken out a super-injunction, although he did not reveal any details.