FCA: credit card firms must stop suspending all users in debt spiral – The Guardian

Posted February 4th, 2020 in consumer credit, debts, financial regulation, interest, news by sally

‘Britain’s financial watchdog has warned credit card firms against the blanket suspension of cards of consumers who are stuck in a debt spiral, telling them to reduce or waive interest and other charges instead.’

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The Guardian, 3rd February 2020

Source: www.theguardian.com

A scheme of arrangement cannot compel a landlord to accept a surrender of a lease because this would interfere with the landlord’s proprietary rights, the High Court in England has ruled – OUT-LAW.com

Posted January 24th, 2020 in debts, landlord & tenant, leases, loans, news, schemes of arrangement by tracey

‘A scheme of arrangement cannot compel a landlord to accept a surrender of a lease because this would interfere with the landlord’s proprietary rights, the High Court in England has ruled.’

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OUT-LAW.com, 23rd January 2020

Source: www.pinsentmasons.com

Court overturns CVA supervisors’ decisions to reject creditors’ proofs of debt – OUT-LAW.com

Posted November 14th, 2019 in contracts, debts, insolvency, news by tracey

‘The High Court in England has overturned decisions made by supervisors of a company voluntary arrangement (CVA) to reject creditors’ proof of debt for dividend purposes.’

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OUT-LAW.com, 11th November 2019

Source: www.pinsentmasons.com

CVAs after the Debenhams decision – Falcon Chambers

Posted November 7th, 2019 in company law, debts, insolvency, landlord & tenant, news by sally

‘In May 2019, the requisite majority of the creditors of Debenhams Retail Ltd voted in favour of a company voluntary arrangement (“CVA”) proposed pursuant to s.1 of the Insolvency Act 1986. As has become common, the scheme of arrangement proposed by the CVA only affected the rights of landlords and rating authorities. All other creditors were to be paid in full.’

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Falcon Chambers, 31st October 2019

Source: www.falcon-chambers.com

Court rejects debtor’s challenge to the validity of assignment of debt (Nicoll v Promontoria (Ram 2) Ltd) – Littleton Chambers

Posted November 1st, 2019 in assignment, debts, insolvency, loans, news by sally

‘Restructuring & Insolvency analysis: James Bickford Smith, barrister at Littleton Chambers, examines the High Court’s decision in Nicoll v Promontoria (Ram 2) Ltd that the appellant debtor’s challenge to the validity of an assignment of his debt to the respondent should not have been entertained by the judge below because although the appellant had sought to put the effectiveness of the assignment in issue in his first witness statement, the point that he took was entirely different from that which he took before the judge.’

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Littleton Chambers, 3rd October 2019

Source: www.littletonchambers.com

Insolvency Update – Using winding up procedure to collect a debt: Sell Your Car With Us Ltd v Anil Sareen [2019] EWHC 2332 – Hardwicke Chambers

Posted October 31st, 2019 in debts, insolvency, news, winding up by sally

‘The recent case of Sell Your Car With Us Ltd v Anil Sareen will be of interest to practitioners in Corporate Insolvency as it provides a useful reminder that there is no strict rule that the winding up procedure is inapt for mere debt collection.’

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Hardwicke Chambers, 7th October 2019

Source: hardwicke.co.uk

Wonga customers’ average compensation payout may be just £118 – The Guardian

Posted October 9th, 2019 in administrators, compensation, complaints, debts, interest, loans, news, statistics by sally

‘Customers who were mis-sold loans by the collapsed payday lender Wonga are expected to receive less than 10% of what they are owed in compensation after administrators revealed that only £41m will be put aside for claimants.’

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The Guardian, 9th October 2019

Source: www.theguardian.com

UK court rejects landlords’ challenge to Debenhams CVA – Pinsent Masons

Posted September 25th, 2019 in company law, debts, landlord & tenant, news, rent by michael

‘Court rejected landlords’ challenge to Debenhams’ CVA in what will be seen as a victory for retailers and a validation of “landlord only” CVAs.’

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Pinsent Masons, 24th Septwmber 2019

Source: www.pinsentmasons.com

Failure to attend trial “means more than turning up late” – Litigation Futures

Posted September 5th, 2019 in appeals, civil procedure rules, debts, delay, loans, news, striking out, trials by tracey

‘The High Court has set aside an order made by a recorder striking out a claim because the claimants were two hours late for a trial in Cornwall.’

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Litigation Futures, 5th September 2019

Source: www.litigationfutures.com

Payments from discharged bankrupt ‘should not continue after second bankruptcy’ – OUT-LAW.com

Posted August 9th, 2019 in appeals, bankruptcy, debts, news, trustees in bankruptcy by tracey

‘A man does not have to continue making payments after he was discharged from a first bankruptcy and made bankrupt for a second time, the Court of Appeal in England has ruled.’

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OUT-LAW.com, 8th August 2019

Source: www.pinsentmasons.com

Court rejects appeal against judgment delivered after 18 months – Law Society’s Gazette

Posted July 26th, 2019 in appeals, debts, delay, fraud, judges, judgments, misrepresentation, news by tracey

‘Losing defendants in a civil claim have failed to overturn a judge’s ruling – despite it taking him 18 months from the end of proceedings to hand it down.’

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Law Society's Gazette, 26th July 2019

Source: www.lawgazette.co.uk

Body-worn cameras to be compulsory for bailiffs – BBC News

Body-worn cameras are to be compulsory for bailiffs under government plans to improve the treatment of people in debt.

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BBC News, 22nd July 2019

Source: www.bbc.co.uk

Can’t Pay? We’ll Take it Away! bailiff entered house unlawfully – BBC News

Posted June 25th, 2019 in bailiffs, debts, media, news by sally

‘A bailiff from television’s Can’t Pay? We’ll Take it Away! who entered a house unlawfully left the occupants feeling “violated” and “like the guilty party”.’

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BBC News, 25th June 2019

Source: www.bbc.co.uk

Payday lenders being ‘bombarded’ by spurious claims – The Guardian

‘Compensation claims management firms looking for the next big earner after the PPI scandal have been accused of bombarding the much-criticised payday lending sector with complaints that are often spurious and sometimes without the knowledge of borrowers.’

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The Guardian, 10th June 2019

Source: www.theguardian.com

City regulator bans high overdraft fees to reform ‘dysfunctional’ market – The Guardian

‘The City regulator has accused UK banks of causing “significant harm” to their most vulnerable customers as it pushes ahead with a ban on excessive overdraft fees.’

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The Guardian, 7th June 2019

Source: www.theguardian.com

High court judge leads inquiry into London Capital & Finance scandal – The Guardian

‘The government has launched an independent inquiry into the collapse of London Capital & Finance, the investment firm at the centre of a mounting £236m financial scandal in which thousands of investors lost money. Dame Elizabeth Gloster, a leading high court judge specialising in corporate failures, finance and fraud, will lead the investigation into the company and the oversight of the City watchdog ahead of its collapse.’

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The Guardian, 23rd May 2019

Source: www.theguardian.com

Payday loan complaints reach five year high – BBC News

‘Complaints against payday lenders have soared to a five year high, the industry watchdog has said.’

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BBC News, 15th May 2019

Source: www.bbc.co.uk

I’m still at a loss’: Windrush victims who were forced into homelessness and debt due to scandal still living in anguish and destitution a year on – The Independent

‘On 16 April 2018, Amber Rudd – then home secretary – stood up in the House of Commons to formally acknowledge the Windrush scandal for the first time. The treatment of immigrants by her department’s “hostile environment” was appalling, she said, vowing to deal with cases within two weeks and put things right. But exactly one year later, the suffering goes on. Many are yet to receive a response to their application to the taskforce, leaving them in a “state of limbo” with little or no information about how their case is progressing.’

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The Independent, 16th April 2019

Source: www.independent.co.uk

Government guidance to end “aggressive enforcement tactics” in recovery of unpaid council tax – Local Government Lawyer

Posted April 15th, 2019 in council tax, debts, enforcement, local government, news by michael

‘The Ministry for Housing, Communities and Local Government (MHCLG) is to publish new guidance to improve how councils recover unpaid council tax and end their use of “aggressive enforcement tactics”.’

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Local Government Lawyer, 12th April 2019

Source: www.localgovernmentlawyer.co.uk

Bailiffs should be required to wear bodycams, say MPs – The Guardian

Posted April 11th, 2019 in bailiffs, debts, news, repossession by sally

‘Bailiffs should be officially regulated and required to wear body cameras to monitor their behaviour when they seize property to cover unpaid bills and fines, MPs have recommended.’

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The Guardian, 11th April 2019

Source: www.theguardian.com