Category: loans

What a tangled web… – NearlyLegal

Posted February 18th, 2013 in company directors, consumer credit, loans, news, tribunals, winding up by sally

“Since our post on Barons Finance Limited, we’ve heard various things about the property and landlord related activities of Barons Finance and assorted other companies under the control of Dharam Prakash Gopee. As it appears that Mr Gopee has on at least one occasion continued to pursue proceedings (including appearing in the appeal permission in the last post) for Barons Finance Limited, despite the company having been wound up and a liquidator having been appointed by the Court, we hope this post might be of use for people acting for Defendants in possession proceedings, duty scheme advisers and hopefully members of the judiciary who are unaware of the relevant court decisions and orders.”

Full story

NearlyLegal, 17th February 2013

Source: www.nearlylegal.co.uk

VTB Capital plc v Nutritek and others – WLR Daily

Posted February 7th, 2013 in appeals, banking, corporate veil, freezing injunctions, law reports, loans, misrepresentation, service out of jurisdiction, Supreme Court by sally

VTB Capital plc v Nutritek and others [2013] UKSC 5; [2013] WLR (D) 41

“Where a claimant alleged that it had been induced by the fraudulent misrepresentations of a third party to enter a contract with a company, and sought to make a contractual claim against the third party as being jointly and severally liable with the company, it was not appropriate for the court to pierce the corporate veil, even if it could do so on appropriate facts, since to do so would render the third party liable as if he had been a co-contracting party with the company when he had not, and when none of the contracting parties, including the claimant, had intended that he should be.”

WLR Daily, 6th February 2013

Source: www.iclr.co.uk

VTB Capital plc (Appellant) v Nutritek International Corp and others (Respondents) – Supreme Court

Posted February 6th, 2013 in appeals, banking, freezing injunctions, law reports, loans, misrepresentation, service out of jurisdiction, Supreme Court by sally

VTB Capital plc (Appellant) v Nutritek International Corp and others (Respondents) [2013] UKSC 5 | UKSC 2012/0167 (YouTube)

Supreme Court, 6th February 2013

Source: www.youtube.com/user/UKSupremeCourt

A new approach: access to justice in criminal cases – LegalVoice

Posted February 6th, 2013 in alternative business structures, budgets, criminal justice, fraud, legal aid, legal representation, loans, news by sally

“Anyone concerned over the need to check the power of the police and prosecution authorities by providing a counter-balance holding these state funded entities to account may find this paper helpful, writes Robin Murray. It is a proposal to save millions of pounds of tax-payers’ money whilst at the same time preserving independent access to justice, an essential pre-requisite to prevent abuse and injustice to which anyone of us, high or low can become a victim.”

Full story

LegalVoice, 5th February 2013

Source: www.legalvoice.org.uk

Undue Influence in the Family – A 2013 Update – Family Law Week

Posted February 4th, 2013 in families, loans, mortgages, news, undue influence by tracey

“Luke Barnes, barrister at Three Dr Johnson’s Buildings, examines the issue of undue influence in family matters.”

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Family Law Week, 1st February 2013

Source: www.familylawweek.co.uk

Property fraudsters sent to jail for up to seven years – BBC News

Posted January 18th, 2013 in banking, forgery, fraud, loans, news, sentencing by tracey

“Two men from London have been sent to jail after being found guilty of
defrauding two banks, Allied Irish Banks and Bank of Scotland, of £61.”

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BBC News, 17th January 2013

Source: www.bbc.co.uk

Peer-to-peer lenders to be regulated – Daily Telegraph

Posted December 10th, 2012 in banking, financial regulation, loans, news by sally

“Peer-to-peer lenders such as Zopa, RateSetter and Funding Circle will be regulated by the new Financial Conduct Authority.”

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Daily Telegraph, 7th December 2012

Source: www.telegraph.co.uk

Arrears, warrants and abuse of process – NearlyLegal

Posted October 1st, 2012 in abuse of process, loans, mortgages, news, repossession, warrants by sally

“A report of a County Court mortgage possession case has reached us, in which the secured lender’s behaviour resulted in a finding of abuse of process. The question was when (an if) an arrears payment had been received.”

Full story

NearlyLegal, 30th September 2012

Source: www.nearlylegal.co.uk

Barclays to be investigated over claim they misused loan scheme – The Guardian

Posted September 21st, 2012 in banking, financial regulation, guarantees, loans, news, small businesses by tracey

“A government business lending specialist is to investigate a loan made by Barclays that turned sour and allowed the bank to collect nearly £70,000 in taxpayer guarantees.”

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The Guardian, 20th September 2012

Source: www.guardian.co.uk

OFT revokes payday lender licence, but firm continues to lend – The Guardian

Posted August 10th, 2012 in appeals, fraud, licensing, loans, news by tracey

“A payday lender has been fined and had its licence taken away by the Office of Fair Trading for the first time – but is still lending money at interest rates of more than 5,000%.”

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The Guardian, 9th August 2012

Source: www.guardian.co.uk

Wonga.com escapes ad ban from ASA – The Guardian

Posted July 4th, 2012 in advertising, complaints, loans, news by sally

“Short-term loan company Wonga.com has avoided a ban from the advertising watchdog despite more than 80 complaints that its ads failed to show that it charged up to 4,214% interest.”

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The Guardian, 4th July 2012

Source: www.guardian.co.uk

Payday loan firms agree to voluntary guidelines – The Guardian

Posted May 25th, 2012 in codes of practice, consumer protection, loans, news by tracey

“Payday loan companies have promised to improve the way they sell credit to borrowers under voluntary guidelines agreed with the government.”

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The Guardian, 24th May 2012

Source: www.guardian.co.uk

OFT pulls the plug on Yes Loans – The Guardian

Posted March 9th, 2012 in consumer credit, consumer protection, loans, news by tracey

“The Office of Fair Trading is revoking the consumer credit licence of one of the UK’s largest unsecured credit brokers for ‘deceitful and oppressive business practices’. If successful, it will put payday loans broker Yes Loans out of business – but the firm has 28 days to appeal and can continue arranging new loans in that time due to limitations in consumer credit regulations.”

Full story

The Guardian, 8th March 2012

Source: www.guardian.co.uk

Call for tighter controls on payday lenders – The Guardian

Posted March 7th, 2012 in consumer credit, debts, financial regulation, loans, news by sally

“Payday lenders should be forced to limit the rolling over of loans, stop allowing customers to switch from one lender to another, and to share information about their customers with other lenders, the business, innovation and skills committee has recommended.”

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The Guardian, 7th March 2012

Source: www.guardian.co.uk

Payday loan firms to be investigated by OFT – The Guardian

Posted February 24th, 2012 in consumer credit, consumer protection, loans, news by tracey

“Payday loan companies will come under fresh scrutiny after the Office of Fair Trading (OFT) launched a review of the sector amid concerns some lenders are taking advantage of people in financial difficulty.”

Full story

The Guardian, 24th February 2012

Source: www.guardian.co.uk

‘Pension unlocking’ loan schemes ruled unlawful – OUT-LAW.com

Posted December 21st, 2011 in loans, news, ombudsmen, pensions, taxation, trusts by tracey

“Loans between pension schemes are ‘unauthorised payments’ which cannot be used as a way of unlocking pension capital before a scheme member retires, the High Court has ruled.”

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OUT-LAW.com, 21st December 2011

Source: www.out-law.com

Payday loan companies face tougher regulation over high interest rates – The Guardian

Posted December 8th, 2011 in debts, financial regulation, interest, loans, news by tracey

“Companies that provide expensive, short-term loans to desperate borrowers face tougher regulation by the government.”

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The Guardian, 7th December 2011

Source: www.guardian.co.uk

Toy boy’, 72, faces losing home after court battle – Daily Telegraph

Posted November 4th, 2011 in loans, news, wills by tracey

“A 72-year-old ‘toy boy’ faces losing his home after a judge ruled that he must pay back money given to him by his long-term partner before she died, plus a hefty legal bill, because they were not married.”

Full story

Daily Telegraph, 4th November 2011

Source: www.telegraph.co.uk

Parties forced to take out loans at high interest to pay their legal costs can recover that interest, judge says – OUT-LAW.com

Posted November 3rd, 2011 in costs, interest, loans, news by sally

“Parties in complex court cases who are forced to take out loans at a high rate of interest to pay their legal costs can recover the full amount of that interest from the other party in certain circumstances, a court has said.”

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OUT-LAW.com, 3rd November 2011

Source: www.out-law.com

Office of Fair Trading takes steps to shut Yes Loans – BBC News

Posted October 31st, 2011 in complaints, consumer credit, consumer protection, loans, news by sally

“The Office of Fair Trading (OFT) is taking steps to close down a company which claims to process thousands of loan applications a week.”

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BBC News, 29th October 2011

Source: www.bbc.co.uk