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Dispute Resolution Blog

Tailored Business Loans: The Financial Ombudsman Service Throws A Lifeline?

Iain McDougall
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 ResolutionIn 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 review scheme.This has left TBL customers...
  1224 Hits
1224 Hits

Disclosure in the FCA Review: An Update



Disclosure in the FCA Review: An Update Posted on Sep 20, 2013 by Liana Park  | Tags: ico, information commissioner, disclosure, DSAR, data, protection, FCA Review,  | 0 Comments by Liana ParkDisclosure in the FCA ReviewNeil Morrison recently reported in this blog on the difficulties many businesses are encountering when trying to get disclosure of documentation from banks to assist with the  FCA Review of mis-sold interest rate swaps.   As part of the FCA Review customers are encouraged to give their recollection of events to the bank and provide any documentation they consider relevant to the review of the sale.  On...
  1357 Hits
1357 Hits

Pedal to the Metal: Are the Banks Speeding Up the FCA Review Process?

Pedal to the Metal: Are the Banks Speeding Up the FCA Review Process? Posted on Dec 06, 2013 by  | 0 Comments One the most frustrating things about the FCA’s interest rate swap review process is the amount of time it appears to take. It was mentioned time and time again during the course of the recent Westminster debate on swap mis-selling. These delays are made ever more frustrating given that the FCA pilot scheme found that 95% of cases involved non-compliant sales.Following the debate it appears that the FCA has been exerting some pressure on the banks to speed things up....
  1246 Hits
1246 Hits

It’s a Penalty (Clause)!



It’s a Penalty (Clause)! Posted on Feb 20, 2014 by  | Tags: commercial, dispute, contract, penalty clause, unenforceable, exit clause,  | 0 Comments By Neil Morrison, Associate, Dispute Resolution “...in ony contract or obligatioun, in name of pane, may not be askit be ony person, bot in sa far  as he is interestit, hurt or skaithit” [Old Scots] Home v Hepburn (1549) Mor. 10033 (Court of Session, Edinburgh)IntroductionIn football when a player falls innocuously in the box, that player’s team’s fans will often scream ‘It’s a penalty!’ even if perhaps the player simply fell over the ball and there was no infringement by...
  751 Hits
751 Hits

Swithering Over A Potential Legal Claim? If You Snooze You Lose!


Swithering Over A Potential Legal Claim? If You Snooze You Lose! Posted on Jul 04, 2014 by Liina Tulk  | Tags: time bar, limitation, scotland, claims, standstill agreement, prescription,  | 0 Comments By Neil Morrison, Associate, and Liina Tulk, Solicitor, Dispute ResolutionIntroductionOften many people will feel that their legal rights have been infringed but for many reasons decide not speak to a solicitor either because they don't want to incur costs investigating if they have a valid claim or because they put it off until they feel ready to focus their attention on it. It is often overlooked  by business owners that...
  1398 Hits
1398 Hits

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