Latest input tagged banks
RSS feed for banks
His Honour Judge Waksman has delivered another judgment in favour of lenders. The claims all related to the interest rates stipulated on a regulated agreement relating to credit cards. The central...
BIS publishes quick start guide and guidance on the regulations implementing the Consumer Credit Directive
BIS, the Department for Business Innovation & Skills has published a quick start guide and more detailed guidance on the regulations implementing the Consumer Credit Directive.
Please see the link...
Developers seek legal advice over ‘swap contracts’
Estates Gazette has reported that a number of small property developers, who are facing receivership, are contemplating taking legal action against their banks for allegedly being mis-sold interest rate...
Review of consumer credit and personal insolvency
Consumer Affairs Minister, Edward Davey has announced a review of consumer credit and personal insolvency. The review will cover:
How consumers enter into credit commitments, including the way in...
Is an unqualified person allowed to act on behalf of parties to litigation?
In a recent case in which I was involved, the proposed representative had acted as advocate on behalf of the claimants on a number of previous applications both in a prior set of proceedings in connection...
Undue influence
Can a court make a finding of actual undue influence even if this is not pleaded? Even where a finding of undue influence is made, if one part of the transaction is not affected by the undue influence,...
OFT warns credit industry not to take court action against consumers outside their home jurisdiction
The OFT has imposed requirements on a national retail finance company and issued a warning to the credit industry that taking court action against consumers outside their home jurisdiction is unacceptable.
An...
If a lender lends money under a contract which subsequently is found to be ultra vires, is the lender entitled to recover that money by claiming restitution?
This is a case reminiscent of the “interest-rate swaps” litigation in which the House of Lords eventually held that English local authorities did not have the power to conclude such transactions. ...
Alternative to repossession and appointment of LPA receiver
The assignment of rental income by way of security can help protect lenders against defaulting borrowers.
Using this remedy means that lenders can demand that rent is paid to them directly from tenants...
Surge in negligence claims against estate agents and surveyors
An investigation carried out by a London law firm has revealed a huge rise in the number of professional negligence claims brought over valuations of residential and commercial properties in 2009.
The...