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 [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 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
“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
“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 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
“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
“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’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 [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.
” 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
“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
“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
“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.
“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
“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
“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
“Big banks and their clients are gearing up for possible post-credit crunch lawsuits that may start hitting the courts within six months, leading lawyers said yesterday.”
Financial Times, 5th February 2008
Source: www.ft.com
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