The Jimmy Savile Charitable Trust’s application to replace Natwest as the executor of the Savile estate has been dismissed by a High Court judge.

Following a three-day hearing at the High Court, Mr Justice Sales yesterday sanctioned a compensation scheme for Savile’s alleged victims that had been agreed between Natwest and lawyers representing the alleged victims.

At the same time he dismissed the charity’s application to have Natwest replaced as executor of Savile’s £4m estate. The Trust had said it was unhappy with the bank’s performance and that compensation issues had not been fully thought through.

Sales said he would give a detailed reason for his decision at a later date.

The Jimmy Savile Charitable Trust and the Jimmy Savile Stoke Manedeville Hospital Trust were named as the main beneficiaries of Savile’s estate when he died in October 2011.

In November 2012 the estate was frozen when it emerged that alleged victims planned to seek compensation.

The Jimmy Savile Stoke Mandeville Hospital Trust was wound up at the end of last year and removed from the Register of Charities in November 2013.

Both charities, which had three trustees in common, announced that they would wind up after a television documentary revealed allegations that the TV personality had sexually abused underaged girls over a number of years.