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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...

Tags on this discussion: bank bankrupcy banks guarantee guarantor Insolvency insolvency rules

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...

Tags on this discussion: bank banking banks consumer credit act ICOB PPI unfair relationship

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...

Tags on this discussion: bank banking banks disclosure money laundering

Money laundering – do you need to disclose bank employee details?

7 July 2011 | Steven Mills Comments Off

Last year, the Court of Appeal decided that a claimant was entitled to require a bank to prove its case that it was obliged to make a number of authorised disclosures to the Serious Organised Crime Agency. ...

Tags on this discussion: bank banking banks disclosure identity money laundering public interest immunity serious organised crime

Duty of care – valuers and the buy-to-let market

22 June 2011 | Jonathan Sachs Comments Off

Last October we reported on a case where a valuer was held to owe a duty of care to a purchaser on a buy-to-let property in respect of a valuation provided to the lender not the purchaser. The valuation...

Tags on this discussion: bank banks buy-to-let duty of care Professional Negligence Valuation

PPI claims – “unnecessary embellishments”

15 June 2011 | Steven Mills Comments Off

PPI claims – “unnecessary embellishments” This case is an interesting example of the type of claims a borrower with PPI can attempt to raise and the court’s approach to these claims. Borrowers...

Tags on this discussion: bank banking banks consumer credit act contract fiduciary duty PPI total charge for credit unenforceable unfair relationship

Can a written guarantee be subject to an oral agreement?

25 May 2011 | Clare Stothard Comments Off

The guarantor, Mr Binney, claimed that although he had signed a written guarantee in favour of National Westminster Bank plc (“the Bank”), it was subject to an oral agreement that the guarantee limited...

Tags on this discussion: bank banking banks contract estoppel guarantee oral agreement representation warranty

What happens when a claimant discontinues his claim – who is liable to pay the costs?

5 April 2011 | Steven Mills Comments Off

In 2009, banks were facing a flood of claims pursuant to section 78 of the Consumer Credit Act 1974 (“the Act”). The Act provides that a creditor under a regulated agreement for running account credit...

Tags on this discussion: bank banking banks CCA costs discontinuance reconstituted

What duty of disclosure does a lender owe a guarantor?

10 March 2011 | Steven Mills Comments Off

The Court of Appeal considered the question of how much information a lender is obliged to give a guarantor? Although the case did not involve a retail bank, the principles highlighted are of wider relevance. The...

Tags on this discussion: bank banks disclosure duty of disclosure guarantee Guarantees misrepresentation

Sale and leaseback schemes

30 December 2010 | Karen Jacobs Comments Off

The court was asked here to determine preliminary issues in 9 test cases concerning the controversial sale and lease back schemes. These schemes enabled the occupiers of property to sell their property...

Tags on this discussion: bank banks default lenders mortagees mortagors mortgages overriding interests priority sale and leaseback

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Latest news and views tagged bank

Can a lender petition for bankruptcy based on a guarantee?

Unfair relationships – Payment Protection Insurance

Disclosing names of bank officials who report suspicions of money laundering

Money laundering – do you need to disclose bank employee details?

Duty of care – valuers and the buy-to-let market

PPI claims – “unnecessary embellishments”

Can a written guarantee be subject to an oral agreement?

What happens when a claimant discontinues his claim – who is liable to pay the costs?

What duty of disclosure does a lender owe a guarantor?

Sale and leaseback schemes

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