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CCJ business bank AC, personal guarantee - amount wrong?


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Hi there,

 

I have a business banking issue with HBOS. I understand that this is a consumer forum, and therefore does not advise on business banking issues. However, does anyone know of a similar forum in the business arena - or are there any legal eagles out there that might like to take on a juicy case against HBOS?

 

Many thanks,

 

SD

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scarydays,

 

Its true that this is a consumer forum but people here also deal with business claims. Some consumers here are also business owners.

 

If you state the problem, you will get some useful help.

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OK - I was a director of a company, with two other directors. A husband and a wife. Over a period of 18 months between 2005 and 2007 they stole almost £500K from the company. It caused the demise of the company.

 

We had a term loan with HBOS which we jointly and severely guaranteed for £175K. By the time the company when into liquidation this was at £35K. We had no authorised overdraft facility, and had an invoice discounting facility. Invoice discounting was up to date and ok. However, HBOS had let the company run up an unauthorised overdraft to the tune of £120K as a result of the two other directors taking the money from the company.

 

The two other directors have declared themselves bankrupt, so HBOS are now pursuing me for the full amount owed under the PG.

 

HBOS were aware that the other two directors were taking the money out of the company by way of directors loans. At no time did they make this known to me, and I was not aware of the unauthorised overdraft.

 

Do I have a case against HBOS - at the very least to make my PG invalid - or some way remove it. And possibly, as they knew this behaviour was going on, and did nothing to stop it, in fact they encouraged it by allowing an unauthorised overdraft build up, can they be implicated in the demise of the company.

 

Any comments would be really helpful. Many thanks

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  • 8 months later...

I hope someone can help as I am very close to the edge here .....

 

Bank of Scotland are pursuing me for a debt I do not believe I owe, based on a personal guarantee I signed.

 

I acknowledged service and submitted a form N9b asking to have the case transferred to my local court. The next I heard was earlier this month that judgement had been entered against me. I telephoned the court and they acknowledged that they had received papers from me, as I was able to prove they had been signed for, but they could not locate my defence form.

 

They sent me through an N244 Application Notice form which they said I needed to submit within 28 days. I am in the process of completing this. But today I received notifaction from the lawyers for Bank of Scotland to say they have placed an Interim charging order on my home a of 09/11 with a hearing for the final order in January.

 

We are currently in the process of selling our house.

 

What am I going to do? I am terrified.

 

SD

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Another thought - the judgement was obtained on 28/10 and it demanded payment forthwith. There is no date. How long do you get to pay in this situation? The Interim Charging Order was obtained on 9th November. is this a little quick?

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In fact I've just gone back over my papers, and I received the judgement in the post on November 2nd - so surely a charging order on the 9th is a little hasty - can I do anything about getting the interim order removed particularily as I am in the process of getting the CCJ set aside so I can defend it?

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scary, am not sure about the time between a judgment and the CO but would think between 14 and 28 days. However, a forthwith judgment means you must pay immediately. Lenders often do this cos it allows them to fast track enforcement

Edited by atom02
to correct typos
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Thank Atom - however, it even states on the paperwork that you should allow 4 days for any payment to clear - so given time to send the payment and clear it, obtaining an interim order on 09/11 seems awful quick to me. But I can understand what you are saying. However, I am about to exchange contracts on the house any day now, so does this Interim order scupper that process?

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You'll need to request a set aside of the CCJ which will cost £75.00 stating the loss of your defence paperwork within the Court System.

 

Have the Court put this in writing ?

 

Some links below on Setting Aside a CCJ -

 

CCJ removal inc. step by step guide

 

Applying for a Set-aside

 

Get the N244 completed and submitted into the courts.

 

This will stop the progress of the Interim Charging Order being made final

 

Help us to keep on helping.

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Any advice & opinions given by supasnooper are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability.

Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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No they haven't put it in writing. I know they received it because I sent the Acknowledgemet of service and the defence together in the one envelope, and they have filed the acknowlegement of service, but not the defence. Thanks for the links - I will have a look at them.

 

Do you know if this process will also stop the interim charging order, as that will skupper the current sale of my house which is due to exchange contracts wthin days.

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I'm afraid I don't think it will halt the Interim Charging Order even with your house sale so close to completion.

 

It will only stop the Court hearing for the Interim Charging Order application to be made final.

 

As far as I am aware, the Land Registry will have already placed an Interim Charging order marker on your property.

I'd speak to your solictor who you've engaged for your house sale to see if they can help.

Also, ring your local Land Registry to see if there is such a marker against your property.

 

Help us to keep on helping.

Please consider making a donation, however small, if you have benefited from advice on the forums.

This site is run solely on donations.

 

You can make a donation

HERE. Thank you.

 

Any advice & opinions given by supasnooper are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability.

Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Yes, but you need to apply for both the set aside of the CCJ and the vaccation of the interim CO at the same time on the one N244 form.

Arrow Global/MBNA - Discontinued and paid costs

HFO/Morgan Stanley (Barclays) - Discontinued and paid costs

HSBC - Discontinued and paid costs

Nationwide - Ran for cover of stay pending OFT case 3 yrs ago

RBS/Mint - Nothing for 4 yrs after S78 request

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Good point Docman. Will that require me to pay two lots of fees do you know? I am thinking of getting some legal advice on this - if I can get some cheaply, as I think I am completely out of my depth here, and the wrong result will be devastating.

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I think you only pay a fee (£75) each time you submit an application. If it covers two points on the same form, you only pay once. If you apply on two separate N244 forms, you will pay twice.

Arrow Global/MBNA - Discontinued and paid costs

HFO/Morgan Stanley (Barclays) - Discontinued and paid costs

HSBC - Discontinued and paid costs

Nationwide - Ran for cover of stay pending OFT case 3 yrs ago

RBS/Mint - Nothing for 4 yrs after S78 request

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In order to get this form off to the court can I just outline a skeleton defence and ask that the court insist that the bank provide with documenation relating to the debt, which I have requested repeatedly, but they have simply ignored. Or do I have to put all details of my defence on the form. i need to get the form in before the end of the week, but can't afford to get any advice on building a detailed defence right now. The important thing from my perspective right now is to get the judgement and the interim order set aside so I can defend it properly.

 

ANy suggestions?

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In order to get this form off to the court can I just outline a skeleton defence and ask that the court insist that the bank provide me with documenation relating to the debt, which I have requested repeatedly, but they have simply ignored. Or do I have to put all details of my defense on the form. i need to get the form in before the end of the week, but can't afford to get any advice on building a detailed defence right now. The important thing from my perspective right now is to get the judgement and the interim order set aside so I can defend it properly.

 

ANy suggestions?

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http://www.consumerforums.com/resources/templates-library/51-guidance-notes/620-applying-for-a-set-aside

 

Have you supplied them with an SAR?

If you have and they have not complied then in your N244 say that you will be also making a counterclaim for breach of the DPA

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Hi BankFodder - the bank account was a businiess bank account, so sadly the SAR is not appropriate. However, I had a personal guarantee in place, so the bank are using that to pursue me personally for monies owed on behalf of the limited company. My issue is that I believe the monies owed were actually personal debts of two other directors who fraudently took money from the company causing it to go into liquidation. I have asked the bank for details of the accounts/loans/overdrafts they say were in place, but all they will send is the personal guarantee documentation saying it makes no difference how the debts were accumulated, the PG covers them for all debts.

 

A judgement was made against me despite me returning the form saying I did not believe I owed the money and wanted to submit a defence, and have the hearing transferred to my local court. When I contacted the court they had no record of the form being filed, despite I having senti it recorded delivery, and the delivery was signed for. So the first I knew about it was when I received the judgement in the post. 7 days later the applied for an interim charging order against my home and it was granted. So it is this mess that I am trying to turn the clock back on, so I can at least have my day in court.

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BUMP

 

Just wondering if anyone has any assistance that can offer with this. I am completing the form this afternoon to put iin the post by close of business today, so any assistance would be really appreciated.

 

Thank you.

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  • 2 months later...

I am in the process of trying to get a CCJ set aside. The bank have also managed to get an interim charging order placed on my property. The court have adjourned proceedings,again, as the bank asked for more time to get evidence together. This is extremely annoying for me as I am currently in the process of selling my house - exchange of contracts is imminent.

 

Can anyone advise on what is the legal position with regard to an interim charging order being in place, and a sale of the property. I think if I hang around waiting for the next hearing (which of course may again result in an adjournment) I will lose my buyer.

 

Any advice?

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Bank have attempted to place an interim charging order on my property.

 

As I joinitly own it with my husband, apparently all they can do is place a restriction on it - which they have done.

 

Apparently this does not prevent us from selling the house - which we are about to do.

 

However there is a procedure that needs to be followed, which we are not fully au fait with,

 

Has anyone else managed to do this successfully

- or are there any legal eagles out there with info on how this is to be done.

 

many thanks

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