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    • Hermes lost parcel.. Read more at https://www.consumeractiongroup.co.uk/topic/422615-hermes-lost-parcel/
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    • I came across this discussion recently and just wanted to give my experience of A Shade Greener that may help others regarding their boiler finance agreement.
       
      We had a 10yr  finance contract for a boiler fitted July 2015.
       
      After a summer of discontent with ASG I discovered that if you have paid HALF the agreement or more you can legally return the boiler to them at no cost to yourself. I've just returned mine the feeling is liberating.
       
      It all started mid summer during lockdown when they refused to service our boiler because we didn't have a loft ladder or flooring installed despite the fact AS installed the boiler. and had previosuly serviced it without issue for 4yrs. After consulting with an independent installer I was informed that if this was the case then ASG had breached building regulations,  this was duly reported to Gas Safe to investigate and even then ASG refused to accept blame and repeatedly said it was my problem. Anyway Gas Safe found them in breach of building regs and a compromise was reached.
       
      A month later and ASG attended to service our boiler but in the process left the boiler unusuable as it kept losing pressure not to mention they had damaged the filling loop in the process which they said was my responsibilty not theres and would charge me to repair, so generous of them! Soon after reporting the fault I got a letter stating it was time we arranged a powerflush on our heating system which they make you do after 5 years even though there's nothing in the contract that states this. Coincidence?
       
      After a few heated exchanges with ASG (pardon the pun) I decided to pull the plug and cancel our agreement.
       
      The boiler was removed and replaced by a reputable installer,  and the old boiler was returned to ASG thus ending our contract with them. What's mad is I saved in excess of £1000 in the long run and got a new boiler with a brand new 12yr warranty. 
       
      You only have to look at TrustPilot to get an idea of what this company is like.
       
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    • Dazza a few months ago I discovered a good friend of mine who had ten debts with cards and catalogues which he was slavishly paying off at detriment to his own family quality of life, and I mean hardship, not just absence of second holidays or flat screen TV's.
       
      I wrote to all his creditors asking for supporting documents and not one could provide any material that would allow them to enforce the debt.
       
      As a result he stopped paying and they have been unable to do anything, one even admitted it was unenforceable.
       
      If circumstances have got to the point where you are finding it unmanageable you must ask yourself why you feel the need to pay.  I guarantee you that these companies have built bad debt into their business model and no one over there is losing any sleep over your debt to them!  They will see you as a victim and cash cow and they will be reluctant to discuss final offers, only ways to keep you paying with threats of court action or seizing your assets if you have any.
       
      They are not your friends and you owe them no loyalty or moral duty, that must remain only for yourself and your family.
       
      If it was me I would send them all a CCA request.   I would bet that not one will provide the correct response and you can quite legally stop paying them until such time as they do provide a response.   Even when they do you should check back here as they mostly send dodgy photo copies or generic rubbish that has no connection with your supposed debt.
       
      The money you are paying them should, as far as you are able, be put to a savings account for yourself and as a means of paying of one of these fleecers should they ever manage to get to to the point of a successful court judgement.  After six years they will not be able to start court action and that money will then become yours.
       
      They will of course pursue you for the funds and pass your file around various departments of their business and out to third parties.
       
      Your response is that you should treat it as a hobby.  I have numerous files of correspondence each faithfully organised showing the various letters from different DCA;s , solicitors etc with a mix of threats, inducements and offers.   It is like my stamp collection and I show it to anyone who is interested!
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SPML/LMC anyone claimed for mis selling and unfair charges?


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Suetonius,

 

Can you comment on, as you mentioned previously the 'perfection event' in the trust deed. Would you say that this is now being implemented by the Trustee(the SPV under instruction)as highlighted by yourself and Gus in the Bloomberg posts?

 

This means that from the 'perfection event', which I believe is when the Trustee, in the words of the trust deed 'where the Trustee considers that the Security or any part thereof is in jeopardy..' This then manifests itself into the 'perfection act' whereby the property deeds, loan files etc now have to be handed over to the Isssuer/SPV?

 

In my opinion, the SPV already is the holder of the titles, and they are already in trust with the Trustee BNY.

 

However, let us assume the preamble above, are we now seeing the 'calling in' by the investors of the collatoral under the trust deed?

I thought this might be just a matter of time, as shown by the Perpetual case in the previous posts. There is now a fight for the assets between the investors and Lehman Special Financing(BNY-trustee neutral). It appears the 'perfection event' creating the 'perfection acts' was much sooner than everyone thought. In fact only a few months after the Lehman bankruptcy.

 

So with the above 'perfections' taking place, the only thing that the SPV has not done is inform the borrowers, which it is obliged to do under the trust deed. Also, from the 'perfections' the SPV has still not registered its titles to the Land Registry. Furthemore, this is evidence that SPML/PML the lenders are insolvent but PWC are NOT putting them into adminstration or insolvency. Note SPML/PML/Capstone/Restfan still all overdue accounts.

 

We are still being had.

 

comments please.

 

ITBG?

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE

either SPML/PML/LMC/SPPL; the following are DIRECT tel#s,

of the investigating & prosecuting organisations: DONOT say you are from CAG-only directly affected or a concerned citizen.

 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643

3. CH : Mark Youde(accounts compliance) @ 02920 380 955

 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108

(part of the Insolvency Service) investigating all the Lehman lenders

 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : @ 0207 637 6236

 

File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!

 

http://www.insolvency.gov.uk/complaintformcib.htm

 

SHUT'EM DOWN!!!!> SPML/PML/LMC/SPPL

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There is an October 22nd deadline for all note holders to submit questionnaires declaring their interest in the notes.

 

Eurosail-UK 2007-4BL Plc - Notice to Noteholders | Regulatory News | Daily News | News | Hemscott

 

Anybody an earthly clue as to what happens thereafter. Do we all get repoed to satisfy the investors? We need to get a strategy together quickly.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Hi,

 

first of all apologies for hijacking the thread, I just cannot find an appropriate thread to post a question.

I am having a dispute with my mortgage provider - already received a repossesion order but because I've questioned some numbers the judge scheduled one more hearing.

In short - all mortgage conditions point to that if I cannot meet payments my home may be repossesed. But there is another one that states - if during the first 60 months account fails two or more months into arrears the mortgage co may apply varable interest rate.

The mortgage company chose to enforse the first condition, but "conveniently" forgot about the second...

I've looked through some securitisation documents and came accross a statement that "some mortgage agreements might be unenforsible due to an "obscure" reasons like interest rates".

 

I've just thinking how I can use the fact that they do not want to change an interest rate in my favour. Logically if they are warning the potential investors of such a danger, probably somewhere exist a case where agreement was deemed unenforsible...

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No worries for the Hijack but you will desperately need your own thread if you are going to be properly and closely advised.

 

Who are you with Preuss?

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Also just to beef up my earlier point about their sheer incompetence

 

ChronicleLive - News - Today's Chronicle - Killingworth man sent strangers' personal data in mail

 

We shouldn't be surprised now should we...

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Thanks. At the moment I have so many things going on that it is difficult to focus on only one...

 

I am with Yorkshire Building Society.

 

Where I can start the thread?

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Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Post 1682

So with the above 'perfections' taking place, the only thing that the SPV has not done is inform the borrowers, which it is obliged to do under the trust deed. Also, from the 'perfections' the SPV has still not registered its titles to the Land Registry. Furthemore, this is evidence that SPML/PML the lenders are insolvent but PWC are NOT putting them into adminstration or insolvency. Note SPML/PML/Capstone/Restfan still all overdue accounts.

 

We are still being had.

 

comments please.

 

ITBG?

 

Post 1655

Suetonius,

 

s.136 Law of Property Act 1925

 

"136 Legal assignments of things in action

(1)Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which express notice in writing has been given to the debtor, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice—"

 

s.136 means that unless a notice has been given to the debtor / borrower, the assignment can only be equitable.

 

ITBG?

 

So with the above 'perfections' taking place' date=' the only thing that the SPV has not done is inform the borrowers[/b']

 

and

 

s.136 means that unless a notice has been given to the debtor / borrower' date=' the assignment [u']can only[/u] be equitable.

 

Ok, I was going to leave the equitable v legal topic alone but with your repeated requests for me to comment, I thought it would be rude of me not to respond.

 

As above, you have said that the SPV has not informed the borrowers and you have also said that unless the borrowers are informed, "the assignment can only be equitable".

 

ITBG? you have said it all already.. Not really much for me to comment on... ;)

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Sue I appreciate where you are coming from and (mostly:D) always have! But I'm very concerned over what appears to a battle for legal title and the potentially disastrous fall out for us the humble borrower. The whole carefully constructed edifice has crumbled and presumaby the investors are now beying for our blood. Is such a consequence probable and what can we do to forestall or fight back. The OFT et al aren't going to protect us. Where can the average SPML consumer get some leverage here? No pun intended?

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Suetonius,

 

Thankyou for you reply. BUT note the following:

 

1. Please show me where I have said 'you have also said that unless the borrowers are informed, "the assignment can only be equitable". Literally.

 

2. My question to you was, from YOUR position, is the instruction from Capstone to note the interest of Eurosail as mortgagee, in YOUR opinion sufficient notice to the borrower which would be in YOUR opinion, to satisfy LOP 1925 s.136?

 

3. Under the LRA 2002 Section 27(4)Schedule2 PART2: REGISTERED CHARGES

 

Part 2 Registered charges

Introductory

9. This Part deals with the registration requirements relating to those dispositions of registered charges which are required to be completed by registration.

 

Transfer

10. In the case of a transfer, the transferee, or his successor in title, must be entered in the register as the proprietor.

 

Creation of sub-charge

11. In the case of the creation of a sub-charge, the sub-chargee, or his successor in title, must be entered in the register as the proprietor of the sub-charge.

 

The fact the SPV 'deliberately omits' to register its LEGAL TITLE under 10 above and the TRUSTEE BNY under 11. In my opinion this is further proof of concealment from the Land Registry. SuperSleuth did ask us to look at section 4 closely.

 

Just to be clear I MAINTAIN, Supers' position that BOTH the legal & equitable title were transfered to the SPV from the lender during the True-Sale securitisation process.

 

However, this debate is important, to pose hypotheses and to come to each owns considered opinion. Its not about scoring 'points', but getting answers.

 

Over to you Sue, anyone?

 

ITBG?

ps how do select bits and such..

Edited by I'm the bad guy?

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE

either SPML/PML/LMC/SPPL; the following are DIRECT tel#s,

of the investigating & prosecuting organisations: DONOT say you are from CAG-only directly affected or a concerned citizen.

 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643

3. CH : Mark Youde(accounts compliance) @ 02920 380 955

 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108

(part of the Insolvency Service) investigating all the Lehman lenders

 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : @ 0207 637 6236

 

File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!

 

http://www.insolvency.gov.uk/complaintformcib.htm

 

SHUT'EM DOWN!!!!> SPML/PML/LMC/SPPL

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Suetonius,

 

Can you comment on, as you mentioned previously the 'perfection event' in the trust deed. Would you say that this is now being implemented by the Trustee(the SPV under instruction)as highlighted by yourself and Gus in the Bloomberg posts?

 

This means that from the 'perfection event', which I believe is when the Trustee, in the words of the trust deed 'where the Trustee considers that the Security or any part thereof is in jeopardy..' This then manifests itself into the 'perfection act' whereby the property deeds, loan files etc now have to be handed over to the Isssuer/SPV?

 

In my opinion, the SPV already is the holder of the titles, and they are already in trust with the Trustee BNY.

 

However, let us assume the preamble above, are we now seeing the 'calling in' by the investors of the collatoral under the trust deed?

I thought this might be just a matter of time, as shown by the Perpetual case in the previous posts. There is now a fight for the assets between the investors and Lehman Special Financing(BNY-trustee neutral). It appears the 'perfection event' creating the 'perfection acts' was much sooner than everyone thought. In fact only a few months after the Lehman bankruptcy.

 

So with the above 'perfections' taking place, the only thing that the SPV has not done is inform the borrowers, which it is obliged to do under the trust deed. Also, from the 'perfections' the SPV has still not registered its titles to the Land Registry. Furthemore, this is evidence that SPML/PML the lenders are insolvent but PWC are NOT putting them into adminstration or insolvency. Note SPML/PML/Capstone/Restfan still all overdue accounts.

 

We are still being had.

 

comments please.

 

ITBG?

 

l have not had access to the exact wording in the guarantee documents that exist between Originator-spv-Lehman Special Financing-Lehman Europ-Note Holders/Trusttee. What we know is this; the originator sells the beneficial part of its mortgage books to the spv (Eurosail or whatever). The spv re-packages all the mortgages in to tracts containing 100:s of mortgages as investment instruments and issues notes/bonds for investors to buy. Although there are obvious risks with this kind of investments, the spv mitigates the offer with a) the security of the deed. b) specal draw down funds for non-performing mortgages, additional draw down facilities from Lehman Special Funding backed by a Guarantee from Lehman Europe against swaps, i.e. re-purchase of bonds against cash at (l'm sure discounted prices). Problem, mortgages do not perform and investors start to draw on the special draw down facilities that eventually runs out of money. lnvestors start to panic and want to impose the swap guarantee and cash in their bonds. No can do as Lehman Special Funds and lehman Europe are in chapter 11. Next step? The investors MUST cancel all swap rights in order to enforce the perfection, i.e. through their trustee enforce their right of the legal titles. What is our situation then. Well, all of us have a contract with the originator that protects us irrespective who the actual owner of our mortgages is. All they can do is to try to re-negotiate our mortgages or simply buy us out with offers you just cannot resist, ie. discounts. But, what we must be aware of are the actual proceedings and the contract performance AND assignment itself.

GR

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Does anyone have the precise or even approximate date for it?

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Gus,

 

pretty much agree with what you say. However, I believe this was a True Sale securitisation. I have still not had a reply from Sue or anyone in a previous post on this:

 

How is it possible that assuming the SPV has only the beneficial title interest it can create a TRUST DEED of assets/mortgages with BNY Trustee?

 

It CANNOT, unless it is the legal title holder, that is the whole purpose of the TRUST DEED for security of the investors. If it was only beneficial, the investors would have none of it. Also, spoke to CH mortgage section and confirmed the m395 TRUST DEED is a SUB-CHARGE on assets/mortgages held as security.

 

Really, I'm only here for answers, does anyone know how a TRUST DEED can be created with only a beneficial interest by the SPV?

 

Comments please?

 

ITBG?

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE

either SPML/PML/LMC/SPPL; the following are DIRECT tel#s,

of the investigating & prosecuting organisations: DONOT say you are from CAG-only directly affected or a concerned citizen.

 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643

3. CH : Mark Youde(accounts compliance) @ 02920 380 955

 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108

(part of the Insolvency Service) investigating all the Lehman lenders

 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : @ 0207 637 6236

 

File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!

 

http://www.insolvency.gov.uk/complaintformcib.htm

 

SHUT'EM DOWN!!!!> SPML/PML/LMC/SPPL

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Suetonius,

 

Thankyou for you reply. BUT note the following:

 

1. Please show me where I have said 'you have also said that unless the borrowers are informed, "the assignment can only be equitable". Literally.

 

Post 1655

 

s.136 means that unless a notice has been given to the debtor / borrower, the assignment can only be equitable.

 

 

2. My question to you was' date=' from YOUR position, is the instruction from Capstone to note the interest of Eurosail as mortgagee, [u']in YOUR opinion sufficient notice[/u] to the borrower which would be in YOUR opinion, to satisfy LOP 1925 s.136?

 

In MY (just mirroring your use of caps :cool: ) opinion no.

 

I have not personally seen one of this letters however, from the limited information posted, it would appear that this letter is not an "express notice" to the borrower which expressly states that the mortgage has been sold.

 

Rather it would only appear to confirm that the benefical rights (aka right to the money) have passed to Eurosail.

 

3. Under the LRA 2002 Section 27(4)Schedule2 PART2: REGISTERED CHARGES

 

Part 2 Registered charges

Introductory

9. This Part deals with the registration requirements relating to those dispositions of registered charges which are required to be completed by registration.

 

Transfer

10. In the case of a transfer, the transferee, or his successor in title, must be entered in the register as the proprietor.

 

Creation of sub-charge

11. In the case of the creation of a sub-charge, the sub-chargee, or his successor in title, must be entered in the register as the proprietor of the sub-charge.

 

The fact the SPV 'deliberately omits' to register its LEGAL TITLE under 10 above and the TRUSTEE BNY under 11. In my opinion this is further proof of concealment from the Land Registry. SuperSleuth did ask us to look at section 4 closely.

 

Section 27 of the Land Registration Act 2002 specifically relates to registrable dispositions. As SPML has retained the legal title, the charge has not been disposed.

 

Just to be clear I MAINTAIN' date=' Supers' position that BOTH the legal & equitable title were transfered to the SPV from the lender during the True-Sale securitisation process.[/quote']

 

Apologies to both Bust the matrix and joncris for repeating my posts.

 

However, as the points raised by ITBG? are the same as SS, my responses are exactly the same as they were when SS raised them as they are now when raised by ITBG?

 

"21. Two of the exceptions are the consequence of US requirements. The first, which the Appellant contends is reflected in substance and in form in the structure which has been achieved, is that the assignment must be a true sale; it may not be an assignment by way of security if US accounting standards are to be respected (necessary because COBE is a wholly-owned subsidiary of a US corporation which is subject to US standards). No such requirement is imposed by UK accounting standards, nor by the FSA"

 

Are you also saying that

 

House of Lords

Legislative Law (Law of Property Act 1925 & The Financial Collateral Arrangements (No.2) Regulations 2003)

Dr Ellis Ferran (Professor of Company and Securities Law at the University of Cambridge)

Halsbury

High Court of Justice (MBNA v HMRC)

Her Majesty's Revenue & Customers (HMRC)

Manchester Tribunal Centre (Capital One v HMRC)

Court of Appeal (Paragon v Pender 2005)

High Court of Justice (Paragon v Pender 2003)

Trust Law

 

have all got it completely wrong ?

 

However, this debate is important, to pose hypotheses and to come to each owns considered opinion. Its not about scoring 'points', but getting answers.

 

Over to you Sue, anyone?

 

ITBG?

ps how do select bits and such..

 

It CANNOT, unless it is the legal title holder, that is the whole purpose of the TRUST DEED for security of the investors. If it was only beneficial, the investors would have none of it. Also, spoke to CH mortgage section and confirmed the m395 TRUST DEED is a SUB-CHARGE on assets/mortgages held as security.

 

A M395 gets it's name from s.395 of the Companies Act 1985. A M395 is used for:

 

(a)a charge for the purpose of securing any issue of debentures,

(b)a charge on uncalled share capital of the company,

©a charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale,

(d)a charge on land (wherever situated) or any interest in it, but not including a charge for any rent or other periodical sum issuing out of the land,

(e)a charge on book debts of the company,

(f)a floating charge on the company’s undertaking or property,

(g)a charge on calls made but not paid,

(h)a charge on a ship or aircraft, or any share in a ship,

(j)a charge on goodwill,

 

Sorry if I have missed anything ITBG?...

 

Why we are on a question and answer session, could you please confirm why

The Pender case, is not a citable precedent.

 

 

ITBG?

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Apparently we have defaulted our SPO...(not)

Got a letter stating unless we pay £12.68 before 14th oct there going for repo..yes you did read right £12.68..how pathetic,this is the 3rd letter in under 2 weeks,with all different amount to be paid.

 

How about we all club together & strike a picket outside the head office,surely we must be able to get some media attention that way!!

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE either SPML/PML/LMC/SPPL; the following are DIRECT tel#s, of the investigating & prosecuting organisations:

 

DO NOT say you are from CAG-only directly affected or a concerned citizen. 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633 

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643 

3. CH : Mark Youde(accounts compliance) @ 02920 380 955 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108 (part of the Insolvency Service) investigating all the Lehman lenders 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : tel#0207 637 6236  

http://petitions.number10.gov.uk/Subprimefees/#detail

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Apparently we have defaulted our SPO...(not)

Got a letter stating unless we pay £12.68 before 14th oct there going for repo..yes you did read right £12.68..how pathetic,this is the 3rd letter in under 2 weeks,with all different amount to be paid.

 

How about we all club together & strike a picket outside the head office,surely we must be able to get some media attention that way!!

 

So crazy, you could not make it up...

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Sue I appreciate where you are coming from and (mostly:D) always have! But I'm very concerned over what appears to a battle for legal title and the potentially disastrous fall out for us the humble borrower. The whole carefully constructed edifice has crumbled and presumaby the investors are now beying for our blood. Is such a consequence probable and what can we do to forestall or fight back. The OFT et al aren't going to protect us. Where can the average SPML consumer get some leverage here? No pun intended?

 

Hi EIE, I am looking into this at the moment as if I am honest at the moment I really don't know..

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I'm looking at a few interesting things..long and slow reading but had to post this gem that just about sums it up.

 

 

10 reasons as to why the Titanic was actually a securitisation instrument:

 

1)The downside was not immediately apparent.

2) It went underwater rapidly despite assurances it was unsinkable.

3) Only a few wealthy people got out in time.

4) The structure appeared iron-clad.

5) Nobody really understood the risk.

6) The disaster happened overnight London time.

7) Nobody spent any time monitoring the risk.

8 )People spent a lot trying to lift it out of the water.

9) People who actually made money were not in original deal.

10) Despite the disaster, people still went on other ships.

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I've found a site that is dedicated to securitisation and all aspects of it including bankruptcy.

 

Web's most comprehensive securitization resource

Securitization news and developments

 

By far the most in depth, up-to-date and easy to read site. It's global so you can compare the laws in the UK, against Europe and the rest of the world.

 

Any transfer in title from being equitable will attract stamp duty and it seems that bottoms should be covered in insolvency. The auditors and the CDOs' need a rocket up theirs for deliberatey turning a blind eye (sorry Gordon) to the inevitable.

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Apparently we have defaulted our SPO...(not)

Got a letter stating unless we pay £12.68 before 14th oct there going for repo..yes you did read right £12.68..how pathetic,this is the 3rd letter in under 2 weeks,with all different amount to be paid.

 

How about we all club together & strike a picket outside the head office,surely we must be able to get some media attention that way!!

 

We had the same thing Dotty. Letters in succession that each quoted different amounts without any reason. All you can do is fire off letters back to them and ask them what the fluff they are playing it. Sit back and wait for their pathetic response and then do the same again. Keep the ball in your court and back them into a corner..they sit very quietly and behave themselves.

 

I've always said I'd love nothing more than a group visit to Capstones HQ and a friendly chat with Mr Merek.

Edited by Crapstone
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