Worcester loan shark burned to death by debtor – BBC News

Posted November 8th, 2013 in assault, burglary, debts, fire, homicide, news, sentencing by tracey

“A man who burned to death a loan shark to whom he owed money has been jailed for 10 years.”

Full story

BBC News, 8h November 2013

Source: www.bbc.co.uk

A negative note – New Square Chambers

Posted November 5th, 2013 in appeals, debts, mortgages, news, repossession, sale of land by sally

“As everyone knows, a mortgagee may go into possession before the paper has cooled down after coming out of the printer, or something like that. But under modern conditions, and particularly with residential mortgages, the strictness of this rule is reduced or removed by agreement or the impact of statute. Even so the principle that the mortgagee is entitled to possession and the limits on the court’s power to deny him that entitlement means that a mortgagor in distress may have very little control over his fate.”

Full story (PDF)

New Square Chambers, 31st October 2013

Source: www.newsquarechambers.co.uk

NCA suffers Supreme Court defeat on assets recovery marshalling claim – 11 Stone Buildings

“On 23 October 2013, the Supreme Court gave judgment in Szepietowski v. the National Crime Agency (formerly the Serious Organised Crime Agency, ‘SOCA’). The case is now the leading authority on the marshalling of securities and will be of interest to those advising banks and other businesses involved in secured lending. The case, however, will also be of general interest in light of the Court’s consideration of the principles applicable to the construction of settlement agreements which involved the Court distinguishing the decision of the House of Lords in Bank of Credit and Commerce International v. Ali [2002] 1 AC 251.”

Full story (PDF)

11 Stone Buildings, 23rd October 2013

Source: www.11sb.com

National Crime Agency v Szepietowski and another – WLR Daily

Posted October 30th, 2013 in appeals, assets recovery, debts, equity, law reports, mortgages, proceeds of crime by sally

National Crime Agency v Szepietowski and another [2013] UKSC 65; [2013] WLR (D) 408

“The equitable remedy of marshalling was not available where the security held by the second chargee did not secure an underlying personal debt of his to the chargor. Therefore the National Crime Agency, having agreed to take a second mortgage over a property in settlement of its claim that it had been purchased by its owner with the proceeds of crime, could not, when the sale of the property only realised sufficient funds to pay off the debt secured under a first mortgage to a bank, require the bank to enforce its security against another property mortgaged by the owner to that bank.”

WLR Daily, 23rd October 2013

Source: www.iclr.co.uk

The Importance of Being Earnest – NearlyLegal

“We have seen Santander having trouble in mortgage possession proceedings in Northern Ireland recently. Here is another example which could perhaps, indeed maybe should, have been avoided, if the lender had actually taken proceedings sufficiently seriously.”

Full story

NearlyLegal, 11th October 2013

Source: www.nearlylegal.co.uk

Up to 450,000 face court over council tax arrears – The Independent

Posted October 11th, 2013 in council tax, debts, local government, news, taxation by sally

“More than 450,000 people could already have received a court summons because they have fallen into arrears with their council tax payments following changes to the system, it was claimed.”

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The Independent, 11th October 2013

Source: www.independent.co.uk

Domestic abuse victims should have right to keep address secret, say campaigners – Daily Telegraph

Posted October 7th, 2013 in children, debts, disclosure, domestic violence, news, privacy, victims by sally

“A woman is calling for new laws to allow victims of domestic violence to withhold their addresses in court to protect them and their children.”

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Daily Telegraph, 6th October 2013

Source: www.telegraph.co.uk

Payday lenders: FCA proposes tougher controls on adverts and rollovers – The Guardian

“Payday lenders will be forced to make tougher affordability checks under a crackdown by the City regulator that could stop borrowers being given loans within minutes of applying.”

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The Guardian, 3rd October 2013

Source: www.guardian.co.uk

Criminals to be fined for damage caused in jail – Daily Telegraph

Posted September 30th, 2013 in criminal damage, debts, fines, news, prisons, statistics by sally

“Criminals who damage prison property will have their jail wages docked to pay for the cost of repairs, under new measures announced by Chris Grayling, the Justice Secretary.”

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Daily Telegraph, 29th September 2013

Source: www.telegraph.co.uk

Breaking news for astrophysicists: Black holes can collapse – Hardwicke Chambers

Posted September 25th, 2013 in costs, debts, insolvency, landlord & tenant, news, pensions, Supreme Court by sally

“OK, so the title perhaps implies that what follows is more interesting than it is. However, the most recent decision of the Supreme Court in the Nortel/Lehman litigation is of considerable importance for all of us, particularly in the current economic climate.”

Full story

Hardwicke Chambers, 23rd September 2013

Source: www.hardwicke.co.uk

Manchester loan sharks jailed after preying on young mothers – BBC News

Posted September 25th, 2013 in debts, interest, intimidation, loans, money laundering, news by sally

“Three Manchester loan sharks who charged vulnerable people 100% interest and menaced them by mobile phone have been jailed.”

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BBC News, 24th September 2013

Source: www.bbc.co.uk

Van Buggenhout and another v Banque Internationale à Luxembourg SA – WLR Daily

Posted September 23rd, 2013 in debts, EC law, foreign companies, foreign jurisdictions, insolvency, law reports by sally

Van Buggenhout and another v Banque Internationale à Luxembourg SA (Case C-251/12); [2013] WLR (D) 353

“A payment made at the behest of debtor subject to insolvency proceedings to one of the latter’s creditors did not fall within the scope of article 24(1) of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings. That provision enabled a person who honoured an obligation ‘for the benefit of’ a debtor, who was subject to insolvency proceedings opened in another member state , when it should have been honoured for the benefit of the liquidator, to be deemed to have discharged it if he was unaware of the opening of proceedings.”

WLR Daily, 19th September 2013

Source: www.iclr.co.uk

LAG: ‘disturbing’ drop off in legal aid cases – LegalVoice

Posted September 11th, 2013 in civil justice, debts, housing, legal aid, news, statistics by tracey

“The Legal Action Group has warned that what remains of civil legal aid could just ‘wither away’ as new research reveals ‘a disturbing reduction’ in the take-up of cases, writes Jon Robins. According to the group, there has been a marked drop off even for the cases still covered by legal aid.”

Full story

LAG report

LegalVoice, 11th September 2013

Source: www.legalvoice.org.uk

Father jailed for stealing to launch son’s racing career – Daily Telegraph

Posted September 9th, 2013 in debts, fraud, news, sentencing, tax evasion, taxation by tracey

“A father has been jailed for stealing £600,000 from the taxpayer to try and make his son the next Lewis Hamilton.”

Full story

Daily Telegraph, 9th September 2013

Source: www.telegraph.co.uk

Debt adviser jailed for preying on ‘vulnerable’ customers – BBC News

“A self styled debt adviser has been jailed for bullying customers into remortgaging their homes and then pocketing the money for himself.”

Full story

BBC News, 21st August 2013

Source: www.bbc.co.uk

Bailiffs called in by councils for 1.8m debts, charity warns – BBC News

Posted August 22nd, 2013 in bailiffs, debts, local government, news, repossession by sally

“Local councils have called in bailiffs an ‘excessive’ 1.8m times in the last year to collect debts on their behalf, according to the Money Advice Trust.”

Full story

BBC News, 22nd August 2013

Source: www.bbc.co.uk

High Court ruling establishes certainty for members of underfunded pension schemes on company insolvency, says expert – OUT-LAW.com

Posted August 5th, 2013 in administrators, debts, insolvency, news, pensions by sally

“It would be ‘unprincipled’ to allow administrators of an insolvent company to use money ring-fenced for the purposes of its underfunded pension scheme to settle their debt to the scheme’s trustees, the High Court has ruled.”

Full story

OUT-LAW.com, 2nd August 2013

Source: www.out-law.com

Nortel / Lehman Supreme Court decision: guidance on insolvency expenses and provable claims – 11 Stone Buildings

Posted July 31st, 2013 in administrators, debts, expenses, insolvency, news, pensions by sally

“The Supreme Court ruled today that sums claimed under a Financial Support Direction of the Pensions
Regulator that is issued after a company’s entry to insolvency will rank as provable debts. It disagreed with both the High Court and a unanimous Court of Appeal, which had held that sums claimed under such a FSD were payable as insolvency expenses. The Supreme Court also rejected an argument that such a claim ranked below ordinary creditors as a non-provable liability.”

Full story (PDF)

11 Stone Buildings, 24th July 2013

Source: www.11sb.com

OFT forces payday lenders out of market – The Guardian

“Almost a third of the payday lenders ordered to clean up their practices have opted to withdraw from the industry, the Office of Fair Trading has revealed, as the deadline for firms to respond passed.”

Full story

The Guardian, 30th July 2013

Source: www.guardian.co.uk

In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies No 2 – Supreme Court

Posted July 29th, 2013 in administrators, contribution, debts, expenses, insolvency, law reports, pensions by sally

In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies No 2 [2013] UKSC 52 (YouTube)

Supreme Court, 24th July 2013

Source: www.youtube.com/user/UKSupremeCourt