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Lloyds have settled another business account claim. The claim was for £9,310 plus court fees and it was issued on 5 October.
Truro Court put the claim on stay before Lloyds were even asked to file a defence and despite the claimant pointing out that it was a business account and not covered by the test case.
Then, out of the blue, a couple of days before Christmas, Lloyds wrote to the client and conceded defeat with their usual "it's not worth us going to court" letter - not worth going to court for £9,000?, pull the other one!
This is the second Lloyds business account claim that has been settled recently; plus an RBS claim that had been dragging on since March and which had twice had hearing dates set, both of which were cancelled when the court put the claim on stay, then took it off, then put it back on.
Why would the banks settle these claims?
In the test case, the banks are asking for a declaration that the common law rule on penalties vs. liquidated damages does not apply to these charges. If the banks thought that they had any prospect of winning that argument, it would make no sense to concede defeat on a claim at this stage.
Therefore, they must think that they are not going to win that argument. But if they cannot win that argument, they cannot win the UTCCR argument; or at least it would be a pyrrhic victory to win the UTCCR argument and lose the common law argument because they would have to pay up on all claims anyway.
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Advice given is purely my opinion, and is not based on any legal training.
Good news indeed. Following the recouping of bank charges on my business account I have recently had some positive news concerning BLRI (Business Loan Repayment Insurance). My contention is that the this was mis-sold to me. Lloyds have now refunded the full premium plus interest.
My advice has hardly any legal foundation whatsoever, however you never know it it might just work!
NatWest Prelim 07.10.206
LBA 21.10.2006
MCOL 30.10.2006
Acknowledgment of Service 06.11.2006
Offer of approx 50% £2200.00 22.11.2006
Full settlement £4500 received 03.01.2007
Smile settled in full
Barclaycard settled in full
RBS Worldwide settled in full
Lloyds TSB settled in full £750.00
Lloyds TSB settled in Full £275.00 11.04.2007
Lloyds TSB business account £1376.00 AQ filed
Lloyds TSB Business account settled in full 21.05.07
Great to see, and further backs up the contentions and basis of claim for Business claimants.
Elsinore, I notice in your sig you have some Business and loan account claims against Lloyds ongoing.
Have you any news on any further progress on these ...... or have you been too busy helping others to be able to concentrate on your own claims?
Elsinore, I notice in your sig you have some Business and loan account claims against Lloyds ongoing.
Have you any news on any further progress on these ...... or have you been too busy helping others to be able to concentrate on your own claims?
PM
Hi PM.
No, not too busy, just biding my time and allowing LTSB to dig a hole for themselves!
Letter to Lloyds sent - you have reminded me that o/d has now reached level of charges they owe us - in fact when you add on interest they owe us £200 so I have asked for a cheque (business account)
I have a business claim started Feb 06 for £4000. About to put a further claim in for £2000 extra in charges they have levied this year.
This was due in Court August but was stayed on application by Lloyds. I appealed against this on the Common Law basis it being a business account, but the Judge ruled to uphold the stay until after the test case.
Any details re the Truro case it may be worth writing.
Lloyds have settled another business account claim. The claim was for £9,310 plus court fees and it was issued on 5 October.
Truro Court put the claim on stay before Lloyds were even asked to file a defence and despite the claimant pointing out that it was a business account and not covered by the test case.
Then, out of the blue, a couple of days before Christmas, Lloyds wrote to the client and conceded defeat with their usual "it's not worth us going to court" letter - not worth going to court for £9,000?, pull the other one!
This is the second Lloyds business account claim that has been settled recently; plus an RBS claim that had been dragging on since March and which had twice had hearing dates set, both of which were cancelled when the court put the claim on stay, then took it off, then put it back on.
Why would the banks settle these claims?
In the test case, the banks are asking for a declaration that the common law rule on penalties vs. liquidated damages does not apply to these charges. If the banks thought that they had any prospect of winning that argument, it would make no sense to concede defeat on a claim at this stage.
Therefore, they must think that they are not going to win that argument. But if they cannot win that argument, they cannot win the UTCCR argument; or at least it would be a pyrrhic victory to win the UTCCR argument and lose the common law argument because they would have to pay up on all claims anyway.
Bob Egerton
Bob the Bankbuster
Have you go the POC for a business account with Lloyds anywhere ? regards Gaz
Another Lloyds Business Claim Settled
have settled another business account claim. The claim was for £9,310 plus court fees and it was issued on 5 October.
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Originally Posted by photoman
