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Six Potential Ways out of a Personal Guarantee!


Six Potential Ways out of a Personal Guarantee! Posted on Apr 03, 2012 by  | Tags: personal guarantee, liquidation, good faith, promise, error, econmic duress  | 1 Comment By Neil Morrison, Associate, Dispute ResolutionINTRODUCTIONIn the current economic climate, it is very difficult for Scottish individuals and small companies to obtain bank loans or overdrafts. Often when a bank is prepared to loan money to the borrower, they will demand that a creditworthy guarantor (usually one or more company directors) signs a personal guarantee which then entitles the bank to recover a fixed sum of money from the guarantor should the borrower fail...
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6194 Hits

How can a company in liquidation make a claim for swap mis-selling?

How can a company in liquidation make a claim for swap mis-selling? Posted on Sep 22, 2015 by Cat Maclean  | 0 Comments The announcement in June 2012 that the then FSA (now FCA) was launching a review into the mis-selling 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...
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2367 Hits

Breakage charges in fixed rate loan held by court to be unenforceable

Royal Court of Justice
Breakage charges in fixed rate loan held by court to be unenforceable Posted on Sep 03, 2015 by  | Tags: Tailored Business Loan, TBL, fixed rate loan, breakage charges, unenforceable, challenge, early redemption, termination, internal swap arrangement, economic costs  | 0 Comments Fixed Rate loans excluded from FCA Review ProcessSince June 2012, when the FCA announced its Redress Scheme for those who had been sold interest rate hedging products (IRHPs), those with fixed rate loans, excluded from the Redress Scheme because their products were not, technically, regulated derivatives, have experienced increasing frustration. Fixed rate loans operated in exactly the same way...
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5961 Hits

World-Wide Banking Litigation Network Conference


World-Wide Banking Litigation Network Conference Posted on Jul 09, 2015 by Liina Tulk  | 0 Comments IntroductionMBM Commercial LLP is the Scottish delegate firm in the prestigious world-wide Banking Litigation Network set up by Collyer Bristow. The Network consists of law firms that are prominent in their own countries for financial services litigation, and particularly litigating against banks. There were delegates from as far East as Russia to as far West as the Cayman Islands.The day-long conference provided a fantastic opportunity for delegates from each country to discuss the challenges they face in their respective countries when litigating against banks as...
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2439 Hits

MBM attend Banking Litigation Network Conference


MBM attend Banking Litigation Network Conference Posted on Jul 07, 2015 by Liina Tulk  | 0 Comments The Conference was attended by delegates from law firms that are prominent in their own countries for litigating against banks. One law firm per jurisdiction is invited to join the network and MBM were delighted to have been selected to represent Scotland in the Network. There were delegates from as far East as Russia to as far West as the Cayman Islands. Flags representing each country definitely gave an UN feeling to the whole event.During the day-long conference, delegates from each country discussed the...
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2272 Hits

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