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The Liechtenstein bank LGT Treuhand (now known as Fiduco Treuhand) has been ordered to pay €7.3m to one of its customers, to compensate him for being prosecuted for tax evasion in Germany.
Heinrich...
Orders for sale consultation
The Ministry of Justice has published a consultation on whether a minimum threshold should be imposed on orders for sale applications (following a charging order) in relation to consumer credit debts only....
Exploring a bank’s suspicions of money laundering
The Proceeds of Crime Act 2002 (“the Act”) provides obligations on a bank to notify the authorities if they suspect a customer of money laundering.
As the Court of Appeal noted, a bank is in the...
Can you recover costs in the small claims court?
When a claim is allocated to the small claim usually the successful party is unable to recover the costs. In this case the Judge held that the successful defendant could recover their costs.
The...
The Office of Fair Trading (“OFT”) has published a consultation on sections 77/78/79 of the Consumer Credit Act 1974– duty to give information to debtors and the consequences of non-compliance on the enforceability of the agreement
The OFT is consulting on guidance because of concerns that some debtors are being misled into thinking that these sections can be used to get their debts written off and that some creditors are not following...
Mortgage arrears handling
The Financial Services Authority has published proposals to strengthen existing rules on arrears handling.
The key arrears proposals:
Make plain that firms must not add early repayment charges...
Triumph of common sense – copy of consumer credit agreement
Can debtors avoid paying their debts under the Consumer Credit Act 1974 ("the Act") if a bank is unable to provide an exact copy of the agreement?
Judge David Waksman held that the banks could satisfy...
Bank’s duty of care
This case considered complaints that the bank had failed to act in accordance with normal banking practice and that it had not complied with advertisements which stated that there were locally based agricultural...
Payment Services Directive implemented in the UK
The Payment Services Directive (PSD) was implemented in the UK by the Payment Services Regulations 2009 on 1 November 2009. This Directive, combined with the new Banking Conduct of Business Sourcebook...
Need advice on a compromise agreement?
Litigation project management - a new way of estimating costs
Computer games designer’s failure to disclose his previous ideas meant employing company owned them – Burrows v Smith, High Court
Computer games designer’s failure to disclose his previous ideas meant employing company owned them – Burrows v Smith, High Court
"Fit notes" to be launched in April 2010
As an employer, have you the right to defend your property?
Framework to provide greater certainty on tax policy
A good compromise?
Tax Health Plan
Happy New Year