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Purchase and leaseback schemes – are they binding on a lender?

1 February 2012 | Jackie Hanlon Comments Off

This appeal concerned nine test cases involving purchase and leaseback schemes whereby owners of properties (“the Vendors”) had sold their homes to purchasers (“the Purchasers”), who had promised...

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The perils of Part 36

19 January 2012 | Karen Jacobs Comments Off

This is yet a further case on Part 36 and the perils of not complying strictly with its provisions.  On 6 April 2007, Part 36 was completely rewritten.  In this case when the claimant put forward their...

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Default Notices

17 January 2012 | Steven Mills Comments Off

This is a Court of Appeal judgment involving a debt of £5,000 owed by Mr Brandon in respect of his credit card with Amex.  On 19 June 2007, Amex issued a Default Notice asserting a breach of the agreement...

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At the discretion of the lender

10 January 2012 | Steven Mills Comments Off

This dispute centred on the meaning of a loan agreement and is an example of how a court will approach the question of construction of a loan agreement. The purpose of the loan was to provide the claimant...

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Resolving costs payable in respect of a mortgage

6 January 2012 | Steven Mills Comments Off

Where a bank takes steps to enforce a mortgage against the borrower, a bank is usually entitled to recover all of its costs including solicitor’s costs from the borrower on a full indemnity basis. ...

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Can a lender petition for bankruptcy based on a guarantee?

17 November 2011 | Steven Mills Comments Off

Last December, I reviewed the case of McGuinness v Norwich and Peterborough Building Society [2010] EWHC 2989, which considered whether a guarantee liability is a liability for a liquidated sum within...

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OFT publishes revised Debt Collection Guidance

16 November 2011 | Jackie Hanlon

Last month, following a consultation between 10 March and 2 June 2011, the Office of Fair Trading (OFT) published a revised version of its Debt Collection Guidance. It was last revised in December 2006. The...

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Unfair relationships – Payment Protection Insurance

19 October 2011 | Steven Mills Comments Off

This Court of Appeal decision focused on the narrow issue of the size of the commission, relating to the cost of payment protection insurance (“PPI”), which the borrowers alleged gave rise to an unfair...

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Charging orders and competing creditors

18 October 2011 | Karen Jacobs Comments Off

This case considered whether to decline to make an interim charging order final if the effect would be to give one creditor priority in enforcing its judgment against other defendants. Unusually there...

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Disclosing names of bank officials who report suspicions of money laundering

18 October 2011 | Steven Mills Comments Off

This Court of Appeal decision raised the important question whether a bank’s obligation to make standard disclosure requires it to reveal the names of the bank employees who report suspicions of money...

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