HBOS face winding up order. Maybe they don't have enough money!!!

[BankFodder]

BBC NEWS | Business | HBOS faced with winding-up order

[livelylad]

Great stuff.

[nicsussex]

Arrogance is hardly a fitting enough term

[noomill060]

Can we have a template for a winding up order?

[welshwizzard]

I never thought I would say this about a claims management company...

Three cheers for ROBERTSON HOLBROOK Its about time the Halifax got a boot, especially on a day when their shares were in free fall thanks to The Bank of England refusing to lend them money!!!!

 

MUST BE THOSE ANNOYING COUNTY COURT JUDGMENTS.

I find it screws your chances of getting a loan anywhare even from the so called "lender of last resort".

 

Makes me proud to be WELSH.

[noomill060]

Croeso y Halifax

 

[noomill060]

**Imagines "Son's of Glyndwr" in Druidical robes, brandishing golden sickles and mistletoe, causing a bit of a disturbance in Halifax tomorrow**

[welshwizzard]

Wow,

 

Heres some more stuff I found on MSE, Halifax seem to have shot them selves in the foot on this one.

 

Here's a quote "from the dragons mouth" so to speak

 

HBOS faced with winding-up order - MoneySavingExpert.com Forums

 

"interesting" to say the least

[welshwizzard]

Did they serve the winding up order, I didnt notice their shares being suspended on the stock exchange or a queue around the block for refunds a la Northern Rock ?

[welshwizzard]

Here's the answer!

Posted on MSE

 

"HBOS have taken out a high court injunction against Robertson Holbrook to prevent them from "winding up" HBOS tomorrow.

The injunction hearing is set for next Friday in Leeds so watch this space, RH are confident of overturning the injunction and for HBOS there will be nowhere to run.

Winding up the UKs 4th largest bank is the last thing RH want to do, but if they want to conduct business in this country they will need to comply with the rules set by the judiciary, as you or I would.

Nobody is above the law."

GO GET EM BOUYOS !

[noomill060]

 

 

*evil cackle*

[ja-de]

I can just see it now, a bit like the Northern Rock fiasco (not sure if that's the right word to use), one hell of a queue of ppl wanting to withdraw all their money. It just serves HBOS right for not paying out when they should've done in the first place. It might even teach the rest of them banks a very big lesson, then again, it might not !!

As I live in Leeds, I might even get chance to go down there, & see HBOS squirm. The very best of luck to you 10 ppl, you deserve every penny back & more besides.

[noomill060]

Tomorrow is Halifax's Injunction Judgement day.

[Nightmare4banks]

Hi all!

 

I was so pleased to read this.

 

It is nice to read this sort of news regardless of the outcome just to prove to these companies that they are not above the law.

 

As you say in Wales:

 

Bouyos/but-tys kick some a**lol!

[Falkirk1298]

So what happened? Anybody??

[ja-de]

Unfortunately I didn't get chance to get down to court to hear the verdict, & I've been searching but there doesn't seem to be anything anywhere. lol

I'll keep looking though, I'll try & get hold of yesterdays, YEP to see if there is anything at all.

[noomill060]

Ive been searching for info on this since yesterday, absolutely nothing anywhere.

 

Nothing from Robinson Holbrook, nothing on the Halifax site.

[setmefree]

Halifax won't take the blame they will just pass the buck.

 

Below is just one of their written statements from their Executives Office that i have seen concerning debit cards.

 

When a debit card transactions is processed, each individual company have a floor limit in place. if a transaction is processed for an amount under this limit then the payment is immediately accepted. a referral is not made to us and we therefore do not have the opportunity to decline the transaction when their are insufficient funds in the account.

When a Visa Electron card is used, all retailers should have a nil floor limit set in place. in theory, this should mean that every transaction is reffered to us for authority. however, some companies have set a higher floor floor limit, which can result in transactions being authorised even though there are insufficient funds in the account. unfortunately, we cannot control individual retailers floor limits. ultimately, it is the individual customers responsibility to manage the transactions on their account..

 

Yet i thought i saw on t.v. yesterday on article about chip and pin, and a woman stating it was safe coz every transaction was checked by the bank???

[welshwizzard]

Found this on MSE:

 

CAN WE ALL COME?

 

PRESS RELEASE RE HBOS HIGH COURT SHOWDOWN

BLOOD ON THE CARPET ?

(THE SHOW MUST GO ON)

 

The High Court Hearing in Leeds On Friday: Robertson Holbrook have agreed an extension to the High Court Injunction against them in light of the intended "Set Aside" Hearing Scheduled in Cardiff County Court"

Friday’s case was highlighted on The BBC Web site:

 

 

BBC NEWS | Business | High Court showdown for HBOS bank

 

Spokesman Tim Russell explained "We are a responsible company and we believe that any judge would find that it is not in the interest of the customers or share holders for a winding up petition to be issued at this stage especially with the prospect of a "judgment set aside" hearing within five weeks." It is for that we contacted the court and stated that we were prepared to allow the unopposed injunction to be extended.

That is not to say that HBOS are off the hook, we have agreed to extend the injunction having taken advice from our legal team who had submitted the case to a leading QC who is a leading authority on winding up procedures at court. ." Halifax only have themselves to blame for the current predicament, had they adhered to the set court protocols we would not have had to go to extreme measures to ensure that our clients cases are dealt with in a timely manor in accordance with the law, which most other banks have no problem at all in adhering to."

"HBOS will have to face all their demons at court in Cardiff," the home town of Robertson Holbrook. "We believe their stance is indefensible, the judges in Cardiff have a commendable reputation for correct procedure and HBOS have an awful lot of explaining to do, I fear there might be blood on the carpet before the day is out, and it most certainly will not be that of our clients or ourselves."

 

BACK GROUND OF THE CASE

Halifax went before His Honour Judge Langan at Leeds High Court of Justice on 10 October 2007 and applied for an injunction against 10 clients of Robertson Holbrook who had previously served statutory demands on the bank as they had not satisfied judgment obtained at court for bank charges, unlawfully applied according to their claims agent Robertson Holbrook.

[Falkirk1298]

Very interesting, thanks.

 

So, if I have this right, Halifax originally ignored a court order to pay up and would have blithely continued so to do had not Robertson Holbrook sought the winding up order. At some point thereafter Halifax had an "oh sh*t" moment and realised they had to do something or face a hearing. They then sought an injunction against the winding up order, which RH have not contested. I take it Halifax are now seeking to set the original judgment aside?

 

This must be costing HBOS a few bob (of our money!)

[ja-de]

Very interesting, thanks.

 

Halifax originally ignored a court order to pay up and would have blithely continued so to do had not Robertson Holbrook sought the winding up order. At some point thereafter Halifax had an "oh sh*t" moment and realised they had to do something or face a hearing. They then sought an injunction against the winding up order, which RH have not contested. I take it Halifax are now seeking to set the original judgment aside?

 

This must be costing HBOS a few bob (of our money!)

 

It looks like it to me, & I'm sure HBOS aren't doing themselves any favours over this, my partner banks with them, & is talking about withdrawing every penny, he says that he doesn't trust them with his money any more, & I'm sure there are many others who feel the same lol.

[Riezem]

BBC NEWS | Business | Court showdown for HBOS delayed

 

Above a link to the bbc with outcome of last Friday........

 

Below a link to bbc re banks defence for test case

 

Banks lay out overdraft defences

BBC NEWS | Business | Banks lay out overdraft defences