Thousands of motor finance claims can be brought via omnibus forms – Legal Futures

Posted March 5th, 2025 in case management, class actions, law firms, loans, news by sally

‘The High Court has overturned a ruling that 5,823 people with motor finance commission claims have to file individual claims, rather than sue via eight omnibus claim forms.’

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Legal Futures, 5th March 2025

Source: www.legalfutures.co.uk

Thames Water £3bn loan deal did not breach competition law, High Court rules – Law Society’s Gazette

Posted February 19th, 2025 in competition, loans, news, water, water companies by sally

‘Thames Water £3bn loan deal did not breach competition law, High Court rules,’

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Law Society's Gazette, 18th February 2025

Source: www.lawgazette.co.uk

Supreme court judges reject Reeves’ motor finance intervention – The Guardian

‘Rachel Reeves was dealt a fresh blow on Monday when her attempt to intervene in a high-profile supreme court case and curb a potential £44bn bill for lenders caught up in the car loan commissions scandal was rejected. Judges at the supreme court rejected the chancellor’s application, lodged last month, in which she urged them to avoid handing “windfall” compensation to borrowers harmed by allegedly secret commission payouts to car dealers that arranged the loans.’

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The Guardian, 17th February 2025

Source: www.theguardian.com

Man cons council out of £710k in ‘Greggs’ swindle – BBC News

Posted February 14th, 2025 in coronavirus, fraud, loans, news by sally

‘Aftab Baig, 47, made fraudulent small business grant claims from Leeds City Council against 32 properties which were branches of the firm during the coronavirus pandemic in May 2020. Baig, who had no links to Greggs and was not employed by the company, was eventually caught out and all but £90,000 was later returned to the council. At Leeds Crown Court on Wednesday, Baig, of Paisley Road West, Glasgow, was found guilty of three counts of fraud and is due to be sentenced at the same court on 31 March.’

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BBC News, 14th February 2025

Source: www.bbc.co.uk

Fraudster who defrauded Covid ‘Eat Out to Help Out’ scheme jailed – Crown Prosecution Service

‘An accountant who helped himself to £27,000 from the ‘Eat Out to Help Out’ scheme as part of a bigger Covid loans fraud has been jailed for three years and eight months today.’

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Crown Prosecution Service, 3rd February 2025

Source: www.cps.gov.uk

Thames Water seeks court approval for emergency cash – BBC News

Posted February 3rd, 2025 in loans, news, waste, water by sally

‘Thames Water will seek approval for an emergency cash lifeline in court on Monday as it faces running out of money in four weeks’ time.’

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BBC News, 3rd February 2025

Source: www.bbc.co.uk

Treasury seeks to intervene in Supreme Court motor finance case – Legal Futures

‘The government has applied to intervene in the Supreme Court hearing on motor finance, expressing concern that the Court of Appeal ruling could have a significant and potentially damaging impact on the market.’

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Legal Futures, 22nd January 2025

Source: www.legalfutures.co.uk

No Ifs, No Butts: Evaluating Evidence for Unconditional Loans Versus Investments in Butt v Butt & Ors [2024] EWHC 3222 (Ch) – Tanfield Chambers

Posted January 9th, 2025 in chambers articles, families, loans, news, shareholders, trusts by sally

‘After 5 days of evidence and submissions, the Court has handed down judgment in the case of Butt v Butt & Ors [2024] EWHC 3222 (Ch). The case concerned a business centre in Nottingham (the “Centre”) and the beneficial ownership of M&B Properties (Nottingham) Ltd, an SPV which had purchased the Centre.’

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Tanfield Chambers, 13th December 2024

Source: tanfieldchambers.co.uk

Thames Water wins court approval to secure ‘critical’ £3bn cash lifeline – The Guardian

Posted December 19th, 2024 in debts, loans, nationalisation, news, water companies by sally

‘Thames Water has won court approval to secure a £3bn cash lifeline from some of its biggest creditors.’

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The Guardian, 17th December 2024

Source: www.theguardian.com

Supreme court grants permission for appeal against UK car finance ruling – The Guardian

‘The supreme court has granted permission for two car lenders to appeal against a landmark ruling on motor finance commission payments that has left firms fearing a potential £30bn compensation bill.’

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The Guardian, 11th December 2024

Source: www.theguardian.com

Lloyds suspends commission payments after ‘seismic’ ruling on UK car finance – The Guardian

Posted October 31st, 2024 in appeals, banking, consumer protection, loans, news by michael

‘Lloyds Banking Group has scrapped commission payments across its £15bn motor finance arm after a landmark ruling on car loan misselling, as industry and Treasury officials hold urgent talks amid fears of contagion across the wider financial sector.’

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The Guardian, 30th October 2024

Source: www.theguardian.com

Law firm fails in bid to restrain litigation funder’s winding-up petition – Legal Futures

Posted October 28th, 2024 in debts, law firms, loans, news, solicitors, winding up by sally

‘A well-known sports law firm has failed to convince the High Court to restrain a litigation funder from advertising a winding-up petition over a loan it has not repaid.’

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Legal Futures, 28th October 2024

Source: www.legalfutures.co.uk

Clarity on the Merits Threshold for Freezing Injunctions: the Court of Appeal in Isabel dos Santos v Unitel S.A. – The 36 Group

Posted October 16th, 2024 in appeals, chambers articles, costs, freezing injunctions, injunctions, loans, news by sally

‘By a Judgment handed down on 30 September 2024 the Court of Appeal dismissed an appeal by Ms Isabel dos Santos against a worldwide freezing order (WFO) and a consequential costs order granted against her by Bright J on 20 December 2023. The Judgment provides welcome clarity in the wake of conflicting authority on the proper approach to the merits threshold for obtaining a freezing injunction, and also confirms the approach to be taken on costs.’

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The 36 Group, 9th October 2024

Source: 36group.co.uk

Manchester City’s tribunal verdict: the key questions answered – The Guardian

Posted October 8th, 2024 in competition, damages, loans, news, shareholders, sport by sally

‘Champions are claiming success over Premier League and we look at what the ruling means and possible ramifications.’

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The Guardian, 8th October 2024

Source: www.theguardian.com

Verdict reached in Man City’s first legal case with Premier League – latest news – Daily Telegraph

Posted October 7th, 2024 in competition, damages, loans, news, shareholders, sport by michael

‘Manchester City are claiming victory in their landmark legal battle with the Premier League over the associated-party transaction (APT) rules that govern commercial spending by state and multi-club ownerships.’

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Daily Telegraph, 7th October 2024

Source: www.telegraph.co.uk

Businessman sentenced for Government backed COVID 19 bounce back loan fraud – Crown Prosecution Service

Posted September 23rd, 2024 in coronavirus, Crown Prosecution Service, fraud, imprisonment, loans, news, sentencing by sally

‘An entrepreneur was sentenced today (20 September 2024) for fraudulently obtaining a COVID-19 Bounce Bank Loans to a value of £50,000.’

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Crown Prosecution Service, 20th September 2024

Source: www.cps.gov.uk

Company boss banned over £145k Covid support claims – BBC News

Posted September 4th, 2024 in company directors, coronavirus, disqualification, insolvency, loans, news by sally

‘A businessman has been banned from being a company director after making bogus claims for £145,000 in Covid-19 support grants.’

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BBC News, 3rd September 2024

Source: www.bbc.co.uk

Judges releases law firm from privilege to defend claim – Legal Futures

Posted August 29th, 2024 in arbitration, fiduciary duty, insolvency, law firms, loans, news, privilege by sally

‘A City law firm will be able to fully defend itself from serious allegations in the High Court after a judge held that its former clients cannot claim legal professional privilege (LPP) because of the iniquity exemption.’

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Legal Futures, 29th August 2024

Source: www.legalfutures.co.uk

Houssein & Others v London Credit Limited & Another [2024] EWCA Civ 721 – Falcon Chambers

‘The First Respondent (“LCL”) agreed to loan £1,881,000 to the Third Appellant, CEK Investments Limited (“CEK”), for a period of 12 months. The loan was secured by a debenture over CEK’s assets, personal guarantees from CEK’s directors the First Appellant and her husband (who had subsequently died and whose estate was now represented by their son, the Second Appellant), and mortgages over 5 buy-to-let properties and their family home.’

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Falcon Chambers, 4th July 2024

Source: www.falcon-chambers.com

IP addresses ruled floating charge under loan security agreement – OUT-LAW.com

Posted June 10th, 2024 in floating charges, insolvency, internet, loans, news by sally

‘Lenders should be aware that despite their static nature, IP addresses have been classified as floating charge assets under a loan security agreement by a recent decision of the High Court of England and Wales. There are legal and practical considerations for lenders and their advisers when securing digital assets, following the ruling.’

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OUT-LAW.com, 7th June 2024

Source: www.pinsentmasons.com