He apparently broke his own bank's code of conduct when he began a sexual relationship with a 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. Hours later, the Daily Mail applied for the existing injunction covering Sir Fred to be lifted. Lawyers for Sir Fred told Mr Justice Tugendhat in the High Court that since the affair was now in the public domain they would not try to maintain his protection.
Lord Stoneham, pictured yesterday, revealed details of the former chief executive of Royal Bank of Scotland's court order in the House of Lords. Lord Oakeshott today told BBC Radio 4's Today programme: 'I'm very concerned the whole story should be out there, should be properly investigated and we should all learn the lessons of the collapse. He said he would not consider revealing details of other superinjunctions, such as those banning reports of footballers' and actors' alleged affairs.
He added: 'I couldn't care less if footballers are playing away. This is quite different, this is not the question of footballers' sex lives - I'm not interested in that. This is a major, overwhelming public interest. Lord Oakeshott added: 'I wanted to make sure the regulator could look at this. One key question is whether Sir Fred broke the RBS code of conduct, which says employees who have affairs with colleagues should tell their managers if there is any possibility that their judgment might be affected.
It subsequently collapsed under the weight of bad loans and its own lack of cash. Sir Fred, 52, quit after negotiating the effective nationalisation of the bank at vast cost to taxpayers. An investigation into the collapse by the FSA, the City regulator, has been long delayed and is eagerly awaited.
The existing order prohibits the naming of the other person to the relationship and prohibits the publication of any details. That remains in force. Peers began asking questions about him after BBC TV personality Andrew Marr admitted to the Mail that he had taken out a privacy injunction to hide an affair with a journalist.
The woman had a child who at one stage Mr Marr thought was his own. What is it? It is the privilege which stops MPs and peers from being sued for defamation for any statement they make in Parliament.
What are its origins? The origins date back to the English Civil War when Parliament was fighting for the right to independence from the monarchy. Back then the law was the will of the King. But it was the the Bill of Rights which established parliament's rights following the Glorious Revolution and officially enshrined parliamentary privilege in English law. Article 9 guarantees freedom of speech stating "the freedom of speech and debates or proceedings in parliament ought not to be impeached or questioned in any court or place out of Parliament".
Why is it an issue now? It is controversial now as the Lord Chief Justice said today newspapers could be found in contempt of court for merely reporting what is said in Parliament. His comments are seen by critics as an attempt by the courts to censor parliamentary proceedings - when it is a constitutional right enshrined in English law - and they say the law belongs to everyone - not just judges and the courts.
Campaigning politicians welcomed the outing of Sir Fred but said taxpayers still need to know the truth about the collapse of RBS. It is, however, a victory. However, what they really need to do is to change tack. He is being prepared for the case by his legal team at Clifford Chance who will be advising him on what to expect in court and prepare his formal witness statement.
Unlike other disgraced public figures who have tried to rehabilitate themselves, Goodwin has shunned charity or voluntary work. He took on an advisory role at architects RMJM before being stripped of his knighthood in In his appearance before MPs was broadcast live. This time only those who turn up in the public gallery will hear his voice as courts do not permit recording or broadcasting.
The woman, an ex-colleague of Sir Fred at Royal Bank of Scotland, had applied to the judge to report the Daily Mail to the Attorney General for publishing details that may reveal her identity, which is protected by a court order. Rejecting her application, Mr Justice Tugendhat said: "The lady is free to refer the matter to the Attorney General herself, and the Attorney General is free to act of his own motion.
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