Archive for the 'banking' Category



Credit and debit card surcharges ‘are excessive’ – BBC News

“A super-complaint is to be launched about the ‘murky practice’ of surcharges levied on customers who pay by debit or credit card.”

Full  story

BBC News, 11th February 2011

Source: www.bbc.co.uk

Law firm not liable to loan losses, says appeal court – Law Society’s Gazette

“A law firm that gave negligent advice to a bank before the bank lost £28m in loans advanced to two local authorities does not have to reimburse those losses, the Court of Appeal ruled last week.”

Full story

Law Society’s Gazette, 3rd February 2011

Source: www.lawgazette.co.uk

Haugesund Kommune and another v DEPFA ACS Bank (Wikborg Rein & Co, Part 20 defendants) – WLR Daily

Haugesund Kommune and another v DEPFA ACS Bank (Wikborg Rein & Co, Part 20 defendants) [2011] EWCA Civ 33; [2011] WLR (D) 25

“A firm of solicitors which erroneously advised a bank that municipalities would not be acting ultra vires if they entered into a swap arrangement with the bank was not liable for the losses resulting from the municipalities’ inability to make restitution once the void nature of the swap agreement came to light. Despite their negligence in relation to the vires of the municipalities, the solicitors had taken no responsibility for their creditworthiness or good faith or for the fact that the bank could not lawfully obtain execution against them when they defaulted on the arrangement.”

WLR Daily, 31st January 2011

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding wLR Daily summary is removed.

Banks launch PPI challenge in high court – The Guardian

“High street banks will launch a high court challenge today against rules controlling their handling of complaints about payment protection insurance (PPI).”

Full story

The Guardian, 25th January 2011

Source: www.guardian.co.uk

Goldman Sachs fined £20m by FSA – The Guardian

“The Financial Services Authority has fined Goldman Sachs £20m after the investment bank failed to tell the regulator a member of staff at the centre of fraud charges in the US was working in the UK.”

Full story

The Guardian, 9th September 2010

Source: www.guardian.co.uk

RBS handed FSA’s biggest fine for money laundering lapses – The Guardian

“Royal Bank of Scotland has been fined £5.6m by the Financial Services Authority for failing to adequately screen customers and payments to prevent its banks – RBS, NatWest, Ulster Bank and Coutts – from being used for money laundering or the financing of terrorist activities.”

Full story

The Guardian, 3rd August 2010

Source: www.guardian.co.uk

Mond and another v MBNA Europe Bank Ltd – WLR Daily

Mond and another v MBNA Europe Bank Ltd [2010] EWHC 1710 (Ch); [2010] WLR (D) 190

“Clause 13.2 of the IVA Protocol, as well as clause 13.1, should not be construed as permitting a creditor bound by the Protocol to vote against an individual voluntary arrangement (‘IVA’) proposal only if he has good reason to do so.”

WLR Daily, 16th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.


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