Maangov V HSBC ***WON***

[lateralus]

and a p.s. i think i didn't mention - i asked garyh (and he knows!) if you are required to show your stuff to dg before presenting it in court and he says what i thought - if it isn't in your court directions - then no!!!!

so that sentence was a load of b... sh..! just to up your confidence level - they are just trying it on!

[maangov]

Guy....... DG SETTLED !!!!!!

 

Big thanks to everyone that's helped, and given me the confidence to see this through.

 

I rang DG, and told them i wished to discuss their fax. Explained there were a few things i wasn't happy about. Firstly the amount was not what i have been requesting. He tried to explain that CI was not going to stand up in court, so i explained i was willing to drop my claim for CI, and accept 8% if we could do a deal.

 

I then explained he failed to include interest on charges, and he tried to argue i was not entitled to it. I explained i was, that i was confident a judge would see it that way, and that i was also therefore entitled to 8% on that too. This miffed him a little, so he offered £2250! I told him that charges, interest on charges and 8% comes to £2664.00 by my calculations. He then agreed we would settle on that.

 

So i told him my next issue was the lack of default removal. This started a 10 minute discussion on how it's beyond his remit to remove defaults. He argued the legal basis of removing it for 5 minutes, before i finally backed down and said we can leave it for a judge to decide if thats the case.

 

He went on to say he could request it, but the bank don't do it lightly. I asked if this would be before the hearing, and he said no! quite frustrated i explained that DG had 8 months to put plans in place to remove it, since it was in every request i had made. He said he'd make a few calls and see if they'd do it.

 

Phoned back an hour later to say.... "My clients are willing to remove the default, it will reflect in 24 hours."

 

So recieved email confirmation of the above, to which i returned an acceptance email. Charges & Charges OD Interest + 8% + Default removed

 

Thanks to everyone. Will donate when money is confirmed.... (I have it confirmed in an email, i hope this is watertight!)

 

MA

[freakyleaky]

CONGRATULATIONS:D

 

ANOTHER ONE IN THE BAG!!!!

 

WELL DONE AND ENJOY THE MONEY!!!

[lateralus]

I AM REALLY VERY, VERY PLEASED FOR YOU.

YOU DIDN'T SWERVE - YOU WON THE GAME!

WHAT A GOOD DEAL AND THE DEFAULT TO BOOT!

MANY, MANY CONGRATULATIONS.

VERY WELL DESERVED WIN!

[Castlebest]

Well Done Maan !!!!! YEAH !!!!!

 

 

pete

[pinkduchess]

excellent!!

[livelylad]

Congratulations, please donate so we can help other.

 

How did you manage to speak to these people they never answer the phone! Could you send me the number please.

[coolchilli]

hi maangov, congratulations with your success- its well deserved!

 

without wanting to put a damper on things, I am concerned that too many people are giving up on compounded contractual interest.

 

DG solicitors are using the case of Westdeutsche Landesbank as authority for the proposition that the Court has no authority to award compounded interest.

 

This is actually not true- what the judgement actually says that compound interest cannot be awarded in Common Law, but can be in Equity. You first have to show there is a fiduciary relationship.

 

Well there clearly is a fiduciary relationship between a Bank and its client- so therefore Equitable rules will apply and compounded interest should be allowed.

 

Its been a few years since I studied the Westdeutsche case, but I'm pretty sure I'm right on this. If anyone else has any thoughts- I'm sure it would be useful to others who still have claims for compound interest running.

[livelylad]

Thread moved to success forum.