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Dispute Resolution Blog

Economic Duress: A Potential Legal Lifeline for Borrowers?


Economic Duress: A Potential Legal Lifeline for Borrowers? Posted on May 10, 2012 by  | 0 Comments It is not uncommon to compare the plight of borrowers in legal disputes with banks and other large financial institutions as a fight between little David and Goliath.The analogy is apt when you consider the unequal bargaining power between small business owners and banks. Unfortunately all too often banks use economic pressure to compel business owners to agree to unconscionable agreements which sadly lead to their business’ demise. The pressure is largely commercial pressure but sometimes the economic pressure is illegal in the eyes...
  1591 Hits
1591 Hits

Scotsman Comments on Interest Rate Swap Sales

Scotsman Comments on Interest Rate Swap Sales Posted on Jun 20, 2012 by Liina Tulk  | 0 Comments An interesting article was published in The Scotsman today in respect of the growing possibility of the FSA investigating interest swap sales. According to The Scotsman, the FSA who have been asked to look into contracts bought by businesses to insure against unexpected rises in interest rates, are now expected to report on an interim basis by the end of this month. Martin Wheatley, head of conduct at the FSA, said he was focusing on the big four banks – Barclays, HSBC, Lloyds and...
  1310 Hits
1310 Hits

RBS blames redundancies on need to comply with bank regulations

RBS blames redundancies on need to comply with bank regulations Posted on Jun 19, 2012 by Cat Maclean  | 0 Comments Yesterday The Royal Bank of Scotland announced it is cutting more than 600 jobs from its financial planning service. The Unite union’s response was that the "brutal" cuts represent a 50% reduction in the department across the country.Unite national officer David Fleming said: "These latest Royal Bank of Scotland job losses are brutal. Six hundred staff, who for some time have faced job uncertainty as the bank reviewed their jobs, have today heard the worst possible news."Unite, for some time, has...
  1211 Hits
1211 Hits

Court of Session is told: "bankers acted as salesmen".

Court of Session is told: "bankers acted as salesmen". Posted on May 28, 2012 by Liina Tulk  | 0 Comments An interesting first day before Lord Hodge in the interest rate swap mis-selling case of Grant Estates v RBS: according to the bank’s own Counsel, Royal Bank of Scotland business bankers were acting purely "as salesmen" when they introduced small businesses to interest rate swaps. Indeed, he went on to say that relationship managers had no responsibility for any opinions they may have given.In the Grant Estates case, communications from the bank had made it clear to the company that the...
  1227 Hits
1227 Hits

Bad Advice to Borrow: Private Lending and the Statutory Right of Action

Bad Advice to Borrow: Private Lending and the Statutory Right of Action Posted on Jun 07, 2012 by Iain McDougall  | 0 Comments It is usually very difficult to succeed in establishing that a Bank owes a general advisory duty to a customer. This is particularly true in the case of company directors who are accustomed to dealing with complex banking transactions and who have access to their own independent advice. This was covered in Cat’s previous post regarding the case of Titan Steel Wheels v RBS and in Liina’s recent coverage of the Grant Estates case.It is worth bearing in...
  1164 Hits
1164 Hits

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