Rock shareholders begin legal bid – BBC News
“Shareholders in nationalised bank Northern Rock are launching a court challenge over compensation they are due to receive.”
BBC News, 8th May 2008
Source: www.bbc.co.uk
Category: banking
Office of Fair Trading v Abbey National plc and Others – Times Law Reports
Office of Fair Trading v Abbey National plc and Others
Queen’s Bench Division
“Terms in standard form contracts between bank and customer providing for relevant charges were not exempt from assessment as to fairness.”
The Times, 29th April 2008
Source: www.timesonline.co.uk
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.
Office of Fair Trading v Abbey National plc and Others – WLR Daily
Office of Fair Trading v Abbey National plc and Others [2008] EWHC 875 (Comm); [2008] WLR (D) 128
“Terms in standard form contracts between bank and customer providing for relevant charges were not exempt from assessment as to fairness under reg 6 of the Unfair Terms in Consumer Contracts Regulations 1999.”
WLR Daily, 25th April 2008
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
Banks told to stop stalling and pay up after verdict on charges – The Times
“Banks have been accused of trying to block compensation claims from customers, after they refused to accept the findings of a High Court test case on penalty charges.”
The Times, 25th April 2008
Source: www.timesonline.co.uk
Small shareholders seek judicial review over Northern Rock compensation – The Times
“Northern Rock’s small shareholders will take High Court action against the Treasury within weeks after the Government’s lawyers rejected their plea for compensation.”
The Times, 24th April 2008
Source: www.timesonline.co.uk
Bank charges ruling due on Thursday – The Guardian
“The long-running controversy over bank charges could come a step closer to being resolved this week after it was announced that the judge hearing the test case would be handing down his judgment on Thursday.”
The Guardian, 21st April 2008
Source: www.guardian.co.uk
Bank details ‘being sold for £5 on the internet’ – Daily Telegraph
“Bank account details are selling for as little as £5 as part of a thriving trade in stolen information on the internet, according to a report.”
Daily Telegraph, 9th April 2008
Source: www.telegraph.co.uk
Credit crunch fallout could drag on for years, lawyers warn – The Times
“Lawyers across the City have been sifting through traders’ e-mails and listening to recordings of their phone conversations in an attempt to piece together thousands of financial transactions.”
The Times, 31st March 2008
Source: www.timesonline.co.uk
Watchdog admits failure over Rock – BBC News
“The UK financial watchdog, the Financial Services Authority (FSA) has admitted it failed to regulate Northern Rock adequately.”
BBC News, 26th March 2008
Source: www.bbc.co.uk
Northern Rock shareholders prepare legal challenge for violation of human rights – The Times
“Northern Rock’s army of small shareholders took their campaign for compensation to the courts yesterday as they accused the Government of abusing their human rights by nationalising the stricken mortgage lender.”
The Times, 20th March 2008
Source: www.timesonline.co.uk
Grosvenor Casinos Ltd v National Bank of Abu Dhabi – WLR Daily
Grosvenor Casinos Ltd v National Bank of Abu Dhabi [2008] EWHC 511 (Comm); [2008] WLR (D) 88
“The Uniform Rules for Collections 522 relating to international banking and collection processes did not create privity of contract between the principal and the collecting bank.”
WLR Daily, 18th March 2008
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
FSA drops plan to force banks to inform on clients – The Times
” The Financial Services Authority (FSA) has dropped a plan to force investment banks to inform on companies they brought to market long after the initial flotation was completed, the regulator confirmed today.”
The Times, 6th March 2008
Source: www.timesonline.co.uk
Biggest investor ready to sue over Rock – The Guardian
“The biggest investor in Northern Rock, SRM Global, is preparing to launch legal action against the government and regulators this week over their role in the collapse of the nationalised bank.”
The Guardian, 3rd March 2008
Source: www.guardian.co.uk
Sisters jailed after spending bank’s error – Daily Telegraph
“Two sisters have been given custodial sentences for helping to spend nearly £135,000 which was put into one of their bank accounts by mistake.”
Daily Telegraph, 29th February 2008
Source: www.telegraph.co.uk
Socimer International Bank Ltd (in liquidation) v Standard Bank London Ltd – WLR Daily
“Where a commercial agreement obliged a creditor bank to determine the value of the assets of the defaulting debtor bank at the date of termination, the creditor bank’s obligation was to carry out an honest, but otherwise subjective valuation.”
WLR Daily, 25th February 2008
Source: www.lawreports.co.uk
Please note once a case has been fully reported the corresponding WLR Daily summary is removed.
One small legal step and a giant leap for Northern Rock – The Lawyer
“Northern Rock passed into public ownership last Friday (22 February) following what was ultimately a very simple legal process.”
The Lawyer, 25th February 2008
Source: www.thelawyer.com
Treasury seeks to head off legal action – The Independent
“The Government will try to head off legal challenges to nationalisation from Northern Rock shareholders by appointing an independent arbitrator to value the battered lender.”
The Independent, 18th February 2008
Source: www.independent.co.uk
Law firms get set to sue investment banks – The Times
“An increasing number of City law firms are breaking one of the profession’s greatest unwritten rules by positioning themselves to sue investment banks, confident that the first of an expected wave of lawsuits arising from the credit crunch will emerge in Britain within weeks.”
The Times, 18th February 2008
Source: www.timesonline.co.uk
