High Court: part 36 offer meant party could not accept earlier ‘without prejudice’ offer – Litigation Futures

‘The High Court has ruled that a claimant’s part 36 offer was a counter-offer, meaning that an earlier common law offer by the defendants no longer remained open for acceptance.’

Full story

Litigation futures, 15th July 2016

Source: www.litigationfutures.com

Comments Off on High Court: part 36 offer meant party could not accept earlier ‘without prejudice’ offer – Litigation Futures

City watchdog battles to ban ‘reckless’ payday lender – Daily Telegraph

Posted July 15th, 2016 in financial regulation, loans, news, unfair commercial practices by tracey

‘The City watchdog faces a legal battle in its attempts to ban a payday lender from the industry, as financier Andrew Barry Hart fights claims he “took a reckless approach” to lending and “failed to address unfair business practices”.’

Full story

Daily Telegraph, 14th July 2016

Source: www.telegraph.co.uk

Comments Off on City watchdog battles to ban ‘reckless’ payday lender – Daily Telegraph

Court of Appeal: lender entitled to recover full refinancing loan in negligent property valuation case – OUT-LAW.com

Posted July 8th, 2016 in appeals, banking, insurance, loans, negligence, news, surveyors, valuation by sally

‘A lender was entitled to recover the full amount of a refinancing loan it granted after relying on a negligent property valuation, and not just the ‘top-up’ funding, the Court of Appeal has ruled.’

Full story

OUT-LAW.com, 6th July 2016

Source: www.out-law.com

Comments Off on Court of Appeal: lender entitled to recover full refinancing loan in negligent property valuation case – OUT-LAW.com

State aid ruling will help inform future investment of public funds, say experts – OUT-LAW.com

Posted May 25th, 2016 in appeals, competition, EC law, loans, local government, news, sport, state aids by sally

‘A recent ruling by the Court of Appeal in London will help public bodies invest public funds into business ventures without breaching state aid rules.’

Full story

OUT-LAW.com, 23rd May 2016

Source: www.out-law.com

Comments Off on State aid ruling will help inform future investment of public funds, say experts – OUT-LAW.com

Judges reject state aid challenge to £14.4m council loan to stadium operator – Local Government Lawyer

Posted May 17th, 2016 in appeals, loans, local government, news by sally

‘The Court of Appeal has dismissed a judicial review challenge to Coventry City Council’s decision to lend £14.4m to ACL, a company which operates the Ricoh Arena.’

Full story

Local Government Lawyer, 17th May 2016

Source: www.localgovernmentlawyer.co.uk

Comments Off on Judges reject state aid challenge to £14.4m council loan to stadium operator – Local Government Lawyer

Crackdown on student loan repayment avoiders – BBC News

Posted February 12th, 2016 in education, loans, news, prosecutions by sally

‘Graduates in England and Wales who fail to repay their student loan in time could be prosecuted, ministers warn.’

Full story

BBC News, 11th February 2016

Source: www.bbc.co.uk

Comments Off on Crackdown on student loan repayment avoiders – BBC News

Martin Lewis begins legal challenge over quiet student loans change – Daily Telegraph

Posted December 15th, 2015 in loans, news, repayment by sally

‘Campaigner Martin Lewis has engaged lawyers to investigate whether the Government has acted illegally in asking students to repay more.’

Full story

Daily Telegraph, 14th December 2015

Source: www.telegraph.co.uk

Comments Off on Martin Lewis begins legal challenge over quiet student loans change – Daily Telegraph

Dickinson and another v UK Acorn Finance Ltd – WLR Daily

Dickinson and another v UK Acorn Finance Ltd [2015] EWCA Civ 1194; [2015] WLR (D) 479

‘The fact that a loan the subject of litigation was rendered unenforceable by statute did not mean that a judge was not entitled to determine whether it would be an abuse of process for a party to proceed with its submission that it would be an abuse of process for another party to be permitted to proceed with its claim which was founded on that loan.’

WLR Daily, 25th November 2015

Source: www.iclr.co.uk

Comments Off on Dickinson and another v UK Acorn Finance Ltd – WLR Daily

Teenager killed himself hours after Wonga cleared out his account – The Guardian

‘A disabled teenager killed himself on the same day that the payday loans company Wonga cleared out his bank account, it has been revealed.’
Full story

The Guardian, 25th September 2015

Source: www.guardian.co.uk

Comments Off on Teenager killed himself hours after Wonga cleared out his account – The Guardian

NUS begins legal action to prevent government scrapping maintenance grants – The Guardian

Posted September 25th, 2015 in budgets, education, equality, loans, news, trade unions, universities by sally

‘The National Union of Students has begun legal action to prevent the government scrapping maintenance grants.’

Full story

The Guardian, 23rd September 2015

Source: www.guardian.co.uk

Comments Off on NUS begins legal action to prevent government scrapping maintenance grants – The Guardian

Solicitor who forged client’s signature on witness statement struck off – Legal Futures

‘A solicitor who forged his client’s signature on a witness statement has been struck off, even though the client himself expressed surprise that disciplinary action had been taken.’

Full story

Legal Futures, 24th September 2015

Source: www.legalfutures.co.uk

Comments Off on Solicitor who forged client’s signature on witness statement struck off – Legal Futures

Is equity release still a dirty word? – BBC News

Posted September 21st, 2015 in interest, loans, mortgages, news by sally

‘Whether you’re considering a cruise, a new kitchen, or just giving money to the children, the thought of liberating that cash from the value of your house is enticing.’

Full story

BBC News, 19th September 2015

Source: www.bbc.co.uk

Comments Off on Is equity release still a dirty word? – BBC News

Unfair law fails to protect logbook loan consumers – Law Commission

‘Logbook loan borrowers have too little protection – and those who unwittingly buy cars subject to logbook loans have none at all. Today the Law Commission opens a consultation to reform the archaic law underlying logbook loans – the “Bills of Sale Acts” – which remains unchanged since Victorian times.’

Full story

Law Commission, 9th Spetember 2015

Source: www.justice.gov.uk/lawcommission

Comments Off on Unfair law fails to protect logbook loan consumers – Law Commission

Unfair (banking/credit) Relationships – Relief under Sections 140A–140D of the Consumer Credit Act 1974 – No. 5 Chambers

Posted September 7th, 2015 in banking, consumer credit, judiciary, loans, news, unfair contract terms by sally

‘Under sections 140A-140D of the Consumer Credit Act 1974 credit transactions may be re-opened as a matter of judicial discretion. These wide judicial powers were added to the Act in 2006 (and came into force on 6 April 2007) in substitution of the previous, more limited, “extortionate credit bargains” regime which had routinely failed to provide an effective remedy to borrowers and guarantors seeking to challenge the terms of their agreement with the lender.’

Full story

No. 5 Chambers, 3rd September 2015

Source: www.no5.com

Comments Off on Unfair (banking/credit) Relationships – Relief under Sections 140A–140D of the Consumer Credit Act 1974 – No. 5 Chambers

Payday lender Cash Genie to pay £20m compensation – BBC News

Posted July 27th, 2015 in compensation, complaints, fees, interest, loans, news, unfair commercial practices by sally

‘Payday lender Cash Genie faces a £20m compensation bill after charging customers £50 to transfer them to the firm’s debt collection business.’

Full story

BBC News, 27th July 2015

Source: www.bbc.co.uk

Comments Off on Payday lender Cash Genie to pay £20m compensation – BBC News

Unregulated Credit Agreements: When is it safe for a lender to rely upon the business purpose exemption? – 11 Stone Buildings

Posted July 27th, 2015 in consumer credit, loans, news by sally

‘Consumer credit legislation requires lenders to negotiate a minefield of regulation and formalities. Even small errors in form, content or procedure can render a loan contract unenforceable and prevent a lender recovering the sums advanced. In the circumstances it is understandable that the exemptions within the legislation, such as that created by s.16B(1) of the Consumer Credit Act 1974 are often invoked to avoid the rigours of regulation. However, this approach can give rise to new risks as demonstrated in Woolsey v Payne [2015] EWHC 968 (Ch) [2015] All ER (D) 24 (May) and Wood v Capital Bridging Finance Limited [2015] EWCA Civ 451. Sarah Clarke, counsel in Woolsey and Payne, suggests how the lawyers and lenders should modify their approach to this exemption in light of these decisions.’

Full story

11 Stone Buildings, June 2015

Source: www.11sb.com

Comments Off on Unregulated Credit Agreements: When is it safe for a lender to rely upon the business purpose exemption? – 11 Stone Buildings

Swynson Ltd v Lowick Rose LLP (in liquidation) (formerly Hurst Morrison Thomson LLP) – WLR Daily

Posted June 30th, 2015 in accountants, appeals, contracts, damages, duty of care, law reports, loans, negligence by sally

Swynson Ltd v Lowick Rose LLP (in liquidation) (formerly Hurst Morrison Thomson LLP) [2015] EWCA Civ 629; [2015] WLR (D) 278

‘In a claim resulting from negligent advice the damages were not to be reduced to reflect a repayment to the claimant of debt made pursuant to a refinancing where such transaction, while arising because of the relevant breach of duty, did not arise in the ordinary course of business.’

WLR Daily, 25th June 2015

Source: www.iclr.co.uk

Comments Off on Swynson Ltd v Lowick Rose LLP (in liquidation) (formerly Hurst Morrison Thomson LLP) – WLR Daily

Record PPI fine for Lloyds knocks 12% off Horta-Osório’s bonus – The Guardian

‘Lloyds Banking Group has docked £350,000 from the bonus of its boss António Horta-Osório after being hit with a £117m fine for unacceptable handling of compensation claims for payment protection insurance.’

Full story

The Guardian, 5th June 2015

Source: www.guardian.co.uk

Comments Off on Record PPI fine for Lloyds knocks 12% off Horta-Osório’s bonus – The Guardian

Solicitors’ client accounts: whose money is it anyway? – Hardwicke Chambers

Posted April 1st, 2015 in appeals, damages, insolvency, loans, news, solicitors by sally

‘If a potential defendant is insolvent, it is a matter of critical importance to the potential claimant if they are able to assert a proprietary right over money or goods as opposed to a mere personal claim for damages.’

Full story

Hardwicke Chambers, 24th March 2015

Source: www.hardwicke.co.uk

Comments Off on Solicitors’ client accounts: whose money is it anyway? – Hardwicke Chambers

Carlyle (Appellant) v Royal Bank of Scotland (Respondent) (Scotland) – Supreme Court

Carlyle (Appellant) v Royal Bank of Scotland (Respondent) (Scotland) [2015] UKSC 13 (YouTube)

Supreme Court, 11th March 2015

Source: www.youtube.com/user/UKSupremeCourt

Comments Off on Carlyle (Appellant) v Royal Bank of Scotland (Respondent) (Scotland) – Supreme Court