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Consumer credit – discontinuance of claim and obligation to pay costs

7 April 2010 | Karen Jacobs

In general terms, if a claimant discontinues his claim he is usually ordered to pay the defendant’s costs unless the court provides for a different order (CPR 38.6 (1)). In Carey v HSBC [2009] EWHC...

Tags on this discussion: banking banks

Limitation Act and mortgage debt

11 March 2010 | Clare Stothard

This judgment highlights that where a borrower makes repayments albeit for a very small amount, this will ensure that time starts to run each time the part payment is made and so prevents a claim for...

Tags on this discussion: banking banks Court of Appeal Litigation

Liechtenstein whistle blower case opens floodgates to litigation

12 February 2010 | Shimon Shaw

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...

Tags on this discussion: banking banks Fidco Treuhand LGT Treuhand liechtenstein tax taxes

Orders for sale consultation

10 February 2010 | Karen Jacobs

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....

Tags on this discussion: banking banks Litigation

Exploring a bank’s suspicions of money laundering

9 February 2010 | Steven Mills Comments Off

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...

Tags on this discussion: banking banks Court of Appeal money laundering

Can you recover costs in the small claims court?

2 February 2010 | Steven Mills Comments Off

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...

Tags on this discussion: banking banks contract costs High Court

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

2 February 2010 | Steven Mills Comments Off

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...

Tags on this discussion: banking banks consumer credit mortgages Office of Fair Trading OFT

Mortgage arrears handling

27 January 2010 | Karen Jacobs

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...

Tags on this discussion: banking banks FSA mortgages

Triumph of common sense – copy of consumer credit agreement

5 January 2010 | Clare Stothard | 1 comment

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...

Tags on this discussion: banks consumer credit act

Bank’s duty of care

17 December 2009 | Karen Jacobs

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...

Tags on this discussion: banks contract duty of care letter of demand tort

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Latest news and views tagged banks

Consumer credit – discontinuance of claim and obligation to pay costs

Limitation Act and mortgage debt

Liechtenstein whistle blower case opens floodgates to litigation

Orders for sale consultation

Exploring a bank’s suspicions of money laundering

Can you recover costs in the small claims court?

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

Mortgage arrears handling

Triumph of common sense – copy of consumer credit agreement

Bank’s duty of care

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