Banking Disputes Blog

Why You Should Have Legal Representation At A Fact Finding Meeting Posted on Jul 29, 2013 by Liina Tulk  | Tags: FCA , Fact Finding Meeting , Testimony Gatherer , swap , bully banks  | 0 Comments This post follows on in a series of blog posts explaining the role of fact finding meetings in the context of interest rate swaps and  what takes place during a fact finding meeting . Role Of The Testimony Gatherer MBM has learned from attending Fact Finding Meetings that part of the Testimony Gatherer’s job is to ask questions of the customer with the aim...

FCA Review Fact Finding – Meetings v Submissions Posted on Aug 27, 2013 by Liana Park  | Tags: FCA  | 0 Comments By Liana Park , Solicitor, Dispute Resolution INTRODUCTION After a long wait, the FCA Review of interest rate hedging products (IHRPs) is finally under way, which means that bank customers now face a tricky decision on how to approach the “fact finding” stage of the review. This is a critical stage in the process and any complacency on the part of the customers could result in an unsatisfactory outcome. The phrase that should be heeded is the classic 'failing to prepare...

Can companies in liquidation take part in the FCA Review Process? Posted on Aug 02, 2013 by  | 0 Comments The announcement a year ago that the then-FSA (now FCA ) was launching a review into the misselling of swaps was a pivotal moment, bringing hope to many. However, for some companies, it came too late, with the burden of the swap payments  having tipped them into insolvency.  For many it has proved well nigh impossible to get the liquidator or insolvency practitioner (often appointed by the bank) to take any interest in the FCA review process. Even if your IP...

Is your swap claim time-barred? Posted on Apr 17, 2013 by Cat Maclean  | 0 Comments IS YOUR SWAP CLAIM TIME-BARRED? If you have a claim for misselling of a swap or derlivative product, and you meet the eligibility criteria for the FSA review, you should be able to participate in the review process so long as your swap was entered into on or after 1st December 2001. However, quite separately from the time limits in the review process is the question of whether or not you are within time to raise court proceedings.  Why would you want to do so...

Tailored Business Loans: The Financial Ombudsman Service Throws A Lifeline? Posted on Sep 27, 2013 by Iain McDougall  | Tags: tailored business loans , financial ombudsman , swaps , embedded swaps  | 2 Comments By Iain McDougall , Senior Solicitor, Dispute Resolution In previous blog posts , we have considered the FCA’s treatment of the Clydesdale Bank’s “Tailored Business Loans” (“TBLs”). These products, sometimes as referred to as “embedded swaps”, are effectively loans in which an interest rate swap forms part of the loan agreement. To date such products, not being standalone derivatives, have fallen outwith the scope of the FCA’s...