‘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.’
Hardwicke Chambers, 24th March 2015
Source: www.hardwicke.co.uk
Carlyle (Appellant) v Royal Bank of Scotland (Respondent) (Scotland) [2015] UKSC 13 (YouTube)
Supreme Court, 11th March 2015
Supreme Court, 11th March 2015
‘The City regulator has uncovered a litany of unfair practices at payday lenders including sending threatening text messages, pursuing customers for the wrong amount and misleading people about the effect of non-payment on their credit rating.’
The Guardian, 10th March 2015
Source: www.guardian.co.uk
‘The Supreme Court has confirmed the risks of sale and rent back arrangements in Southern Pacific Mortgages Ltd v Scott [2014] UKSC 52. Mrs Scott was the vendor in a sale and rent back. Against her knowledge the purchaser had obtained a mortgage to fund the purchase of her home and defaulted, causing it to be repossessed. She was unsuccessful in arguing that her lease took priority to the mortgage.’
New Square Chambers, 28th November 2014
Source: www.newsquarechambers.co.uk
AIB Group (UK) Plc (Appellant) v Mark Redler & Co Solicitors (Respondent) [2014] UKSC 58 (YouTube)
Supreme Court, 5th November 2014
Avonwick Holdings Ltd v Webinvest Ltd and another: [2014] EWHC 3322 (Ch); [2014] WLR (D) 424
‘Communications made at a time when there was no dispute could not, with retrospective effect, be made subject to the without prejudice privilege by subsequently rasing a dispute.
WLR Daily, 10th October 2014
Source: www.iclr.co.uk
‘Interest Rate Hedging Products (“IRHP”) are financial products that enable the purchaser to limit their exposure to interest rate movements. They are often purchased at the same time as entering into a loan.’
Hardwicke Chambers, 19th September 2014
Source: www.hardwicke.co.uk
‘Thousands of people who have taken out payday loans from firms other than Wonga should also have their interest and charges wiped out, say consumer and legal experts.’
The Guardian, 3rd October 2014
Source: www.guardian.co.uk
‘In the wake of the banking crisis, the Financial Services Act 2012 gave the FCA a range of new and enhanced powers with which to pursue its regulatory objectives. Today, it has used – for the first time – one if its shiny new tools; the FCA has issued a Temporary Product Intervention Rule (TPIR).’
RPC Commercial Disputes Blog, 5th August 2014
Source: www.rpc.co.uk
‘A solicitor has won a High Court battle to prove he was an employee and not a partner at a firm subject to legal action.’
Law Society’s Gazette, 1st August 2014
Source: www.lawgazette.co.uk
‘Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.’
BBC News, 25th June 2014
Source: www.bbc.co.uk
‘The Defendant was convicted of 8 counts of carrying on a consumer credit business without a licence (Section 39 Consumer Credit Act 1974 (“CCA”) ) (“illegal money lending”) and was sent to prison. Birmingham City Council whose team has vast experience in and has conduct of most prosecutions in this area of work applied under Proceeds of Crime Act 2002 (“POCA”) to confiscate the Defendant’s property and in particular a house he had purchased with the proceeds of his business. The case was not a “lifestyle” case.’
Full story (Word)
Six Pump Court, 12th May 2014
Source: www.6pumpcourt.co.uk
‘Margaret Hodge calls in audit office after Guardian reveals colleges offer access to loans for students who don’t attend.’
The Guardian, 22nd May 2014
Source: www.guardian.co.uk
‘Recent press coverage1 has highlighted a black hole in the government’s finances concerning student debt. A mis-calculation in the number of graduates who will earn enough to repay their loans has meant that, should the number pass the 48% mark (which appears likely – it is currently at 45%, having already been raised from an initial figure of 28%) the government would have been better off keeping to the £3,000 a year tuition fees regime. Little comfort to those students subject to the £9,000 a year rate of fees, but there is another group of people who view students with access to university loans on any terms as the lucky ones: those with discretionary leave to remain (“DLR”).’
Hardwicke Chambers, 8th April 2014
Source: www.hardwicke.co.uk
‘God, we are told, loves a trier. Perhaps fortunately, the Court of Appeal takes a less emollient approach with an unlawful money lender who has been repeatedly featured on this site.’
NearlyLegal, 23rd April 2014
Source: www.nearlylegal.co.uk
‘A TV advert for payday loans firm Wonga has been banned after the advertising watchdog ruled it confused the public about the interest rates that applied.’
BBC News, 9th April 2014
Source: www.bbc.co.uk
‘One quarter of payday lenders may pull out of the market under pressure from new regulations. The Financial Conduct Authority (FCA) is to investigate the way they treat borrowers struggling to repay loans. It has said the review will be one of its first actions when it takes over regulation of the consumer credit sector on 1 April.’
BBC News. 12th March 2014
Source: www.bbc.co.uk
‘Innocent car buyers can lose their vehicles under ‘bills of sale’ rules dating back to the Victorian era.’
The Guardian, 16th February 2014
Source: www.guardian.co.uk
‘Sixty victims of loan sharks are in witness protection, according to the country’s leading official tasked with breaking the cycle of fear, intimidation and violence trapping families who have borrowed money from illegal lenders.’
The Guardian, 24th January 2014
Source: www.guardian.co.uk
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