Wonga TV ad banned for failing to show interest rate – BBC News
‘The Advertising Standards Authority has banned a TV advert by payday lender Wonga, after a complaint by a charity.’
BBC News, 8th October 2014
Source: www.bbc.co.uk
Category: debts
Nickel & Goeldner Spedition GmbH v “Kintra” UAB – WLR Daily
‘An action for the payment of a debt based on the provision of carriage services taken by the insolvency administrator of an insolvent undertaking in the course of insolvency proceedings opened in one member state and taken against a service recipient established in another member state came under the concept of “civil and commercial matters” within the meaning of article 1(1) of Council Regulation (EC) No 44/2001. Moreover, article 71 of Regulation No 44/2001 meant that, in a situation where a dispute fell within the scope of both that regulation and the Convention on the Contract for the International Carriage of Goods by Road, as amended, a member state could, in accordance with article 71(1) of that Regulation, apply the rules concerning jurisdiction laid down in article 31(1) of that Convention.’
WLR Daily, 4th September 2014
Source: www.iclr.co.uk
In re PGL Realisations plc and other companies; Laverty and others v British Gas Trading Ltd – WLR Daily
‘Charges arising under deemed contracts for supplies of gas and electricity to retail premises after the companies had entered into administration and after the premises had been vacated by the companies were provable debts within rule 13(12(1)(b) of the Insolvency Rules 1986.’
WLR Daily, 31st July 2014
Source: www.iclr.co.uk
Borrower wins court reprieve over £13,000 debt due to ‘illegible documents’ – Daily Telegraph
‘ When Harry Moore was taken to court over spiralling credit card debts, he faced losing both his home and business. Mr Moore, 43, had built up a balance of more than £13,000 on an MBNA credit card, and had failed to meet repayments. His debts were passed from MBNA to a debt recovery agency, Hillesden Securities, which in November 2013 took him to court. But the case was thrown out – because the orginal agreement was “impossible to read”.’
Daily Telegraph, 16th July 2014
Source: www.telegraph.co.uk
Novoship (UK) Ltd and others v Nikitin and others – WLR Daily
Novoship (UK) Ltd and others v Nikitin and others [2014] EWCA 908; [2014] WLR (D) 297
‘The remedy of an account of profits was available against one who dishonestly assisted a fiduciary to breach his fiduciary obligations, even if that breach did not involve a misapplication of trust property.
WLR Daily, 4th July 2014
Source: www.iclr.co.uk
Could TV Licensing be given power to raid bank accounts? – Daily Telegraph
‘HMRC chief Lin Homer indicates proposed powers to raid bank accounts of debtors could be extended to TV Licensing and DVLA, as MPs warn they violate Magna Carta.’
Daily Telegraph, 8th July 2014
Source: www.telegraph.co.uk
Gambling addict sues Ritz casino after losing £2m – BBC News
‘A gambling addict is suing the Ritz casino after betting and losing £2m in one evening.’
BBC News, 3rd July 2014
Source: www.bbc.co.uk
Wonga chased debt with fake lawyers, says FCA – BBC News
‘Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.’
BBC News, 25th June 2014
Source: www.bbc.co.uk
Businessman jailed for fraud after faking own death – Daily Telegraph
‘Debt-ridden businessman Sanjay Kumar faked his own death to claim millions of pounds in life insurance.’
Daily Telegraph, 17th June 2014
Source: www.telegraph.co.uk
University tuition fees and discretionary leave to remain – Hardwicke Chambers
‘Recent press coverage1 has highlighted a black hole in the government’s finances concerning student debt. A mis-calculation in the number of graduates who will earn enough to repay their loans has meant that, should the number pass the 48% mark (which appears likely – it is currently at 45%, having already been raised from an initial figure of 28%) the government would have been better off keeping to the £3,000 a year tuition fees regime. Little comfort to those students subject to the £9,000 a year rate of fees, but there is another group of people who view students with access to university loans on any terms as the lucky ones: those with discretionary leave to remain (“DLR”).’
Hardwicke Chambers, 8th April 2014
Source: www.hardwicke.co.uk
Panorama bailiffs investigation to be aired after high court bid fails – The Guardian
‘The bailiff and star of BBC show The Enforcers has failed in a high court bid to stop a John Sweeney Panorama investigation into debt recovery being broadcast.’
The Guardian, 7th April 2014
Source: www.guardian.co.uk
Crackdown to stop bailiffs using aggressive tactics – BBC News
‘Sweeping changes to the way bailiffs can enforce the repayment of debts come into force on Sunday.’
BBC News, 4th April 2014
Source: www.bbc.co.uk
Quarter of payday lenders may quit under tougher rules – BBC News
‘One quarter of payday lenders may pull out of the market under pressure from new regulations. The Financial Conduct Authority (FCA) is to investigate the way they treat borrowers struggling to repay loans. It has said the review will be one of its first actions when it takes over regulation of the consumer credit sector on 1 April.’
BBC News. 12th March 2014
Source: www.bbc.co.uk
OFT warns universities about sanctions on students in debt – The Guardian
‘The Office of Fair Trading has written to more than 170 universities and other higher education groups warning that the widespread practice of stopping students graduating or continuing with their course if they owe money over issues such as late library books or childcare services could breach consumer laws.’
The Guardian, 18th February 2014
Source: www.guardian.co.uk
‘Logbook lenders’ are flouting the law, say debt advisers – The Guardian
‘Innocent car buyers can lose their vehicles under ‘bills of sale’ rules dating back to the Victorian era.’
The Guardian, 16th February 2014
Source: www.guardian.co.uk
Salliss v Hunt – WLR Daily
Salliss v Hunt [2014] EWHC 229(Ch); [2014] WLR (D) 56
‘When considering whether or not to grant an application to annul a bankruptcy order there was no reason in principle why the court should take any account of a debt due to a creditor where the creditor was aware of the bankruptcy but had never submitted a proof and had made an informed commercial decision not to lodge one in the future.’
WLR Daily, 10th February 2014
Source: www.iclr.co.uk
Davis and another v Price and another – WLR Daily
Davis and another v Price and another [2014] EWCA Civ 26; [2014] WLR (D) 16
‘The reference to a “further meeting” in section 262(4)(b) of the Insolvency Act 1986 in relation to a nominee was a reference to a “further meeting under section 257” of the Act.’
WLR Daily, 21st January 2014
Source: www.iclr.co.uk
Payday lenders’ default fees could break the law – The Independent
‘Many payday lenders could be breaking the law by charging excessive default fees to borrowers who miss repayments, according to Which? An investigation by the consumer group revealed that 10 of 17 leading payday lenders have default fees of £20 or more, and four charged £25 and above, with Wonga topping the table at £30.’
The Independent, 13th January 2014
Source: www.independent.co.uk
Payday loan costs cap unveiled by George Osborne – The Guardian
‘George Osborne said the cap on the overall cost of credit was the next logical step as the coalition sought to regulate what had been a wholly unregulated market.’
The Guardian, 25th November 2013
Source: www.guardian.co.uk
Worcester loan shark burned to death by debtor – BBC News
“A man who burned to death a loan shark to whom he owed money has been jailed for 10 years.”
BBC News, 8h November 2013
Source: www.bbc.co.uk
