Tom Brennan v NatWest - This is a must-read!!!

[beetlejuice]

Would this be why Nat-wets have gone all quiet??

 

I was offered a cheque last week but it's still not arrived??

 

 

BJ

[PPMAN159]

It could have something to do with it

[beetlejuice]

Anyone had a sim experience.

 

BJ

[Bookworm]

Would this be why Nat-wets have gone all quiet??

 

I was offered a cheque last week but it's still not arrived??

 

 

BJ

 

I shouldn't think so, no.

 

The case at the moment is in County Court to decide whether Tom has a case and whether it can be allowed to continue onwards and upwards. IF the judge decides so, then we are still months away from any decision that will influence our cases one way or another.

[beetlejuice]

Thanks BW it'll probably arrive tomorrow!!

 

HAGWE!

 

BJ

[taff-p]

A friend of mine sent her pelim letter to nat west 11th march for £1,800. Thay settled with interest friday.

[Shoestring]

Ha ha!

 

That does sound very cynical, but what a set up that could be, the banks club together and pay somebody to 'lose' a case against them and suddenly the whole bank charges reclaim phenomenon comes to an end. Saving the bank potentially hundreds of millions!

 

Not even the banks would drop that low, or would they?!

 

I heard somewhere (sorry, can't remember the source now) that the combined banks have, over the years, accrued a figure (somewhere) in the region of $22 billion from unlawful bank charges.

 

The question therefore, is would they collectively take steps to limit the amount they may have to payback, including damages?

 

Wouldn't you?

 

Can you see the Chancellor or the Governor of the Bank of England standing idly by while the banks multiple year on year run of record profits (and record taxation revenues from banks) suddenly dries up and reverses, followed by years upon years of losses, and the concomitant loss in confidence in the banking sector?

 

The last time this scenario (scary losses in the banking sector) reared its ugly head was in the late mid-Eighties when many of the High Street bank were, de facto, bankrupt due to their reckless lending portfolios to less developed nations and dodgy third world sovereign nations.

 

Guess how how those same bankrupt banks rallied their fortunes and retured to record profit making ventures in just a few short years?

 

Answers on a postcard...

 

Shoestring

 

PS, personally, I hope Brennan is on the up and up and wins, but this whole mater of banks repaying massive sums of past unlawful charges is going to come to an end sooner or later -- by fair means (legal) or foul (legislation).

[Parkvale]

All due respect shoe string. Your argument is feasable , but a tad far fetched. The point you have not grasped is that these bank penalty charges are in breach of our contract. with the bank. The law of this country quite clearly states the amount of damages to be paid to one party if the other party should breach the contract. This is termed liquified damages. Under the common law, a liquidated damages clause will not be enforced if the purpose of the term is solely to punish a breach of contract (in this case it is termed penal damages). The clause will however be enforceable if it is a genuine attempt to pre-quantify a loss, ie a genuine pre-estimate of economic loss. Many clauses which are found to be penal are expressed as liquidated damages clauses but are seen by courts as excessive and thus invalid. I hope you can understand this. The banks would do better to use their bloated profits to try and change the law of the land. Yes Brennan's case is important, but not for the charges issue, but for the damages.

As far as the paying out of re-claimed bank charges. Again as long as the law is not changed they will have to pay out into infinity.

[Shoestring]

Parkvale, I understand what you say and I genuinely hope it remains the case.

 

As for whether my suspicions are far fetched or not would require a study of shadow history...almost thirteen years and counting in my case.

 

But the key question remains: would the banks and all the interested parties allow that kind of money (£22 billion - supposing it is the true figure PLUS additional and unspecified sums of "damages") to be wiped of the balance sheets of City banks and go back into the pockets of the muppet majority?

 

Think about it.

 

Yours in hope

 

Shoestring

[Parkvale]

"The muppet minority." Are already re- plenishing those £22 billion with increases on their charges in their bank accounts and on their credit cards. I do agree with you that they will get their charges back, but through the back door.

[Shoestring]

There are many "back doors" in the crooked house of smoke and mirrors...

 

Shoestring

[noomill060]

Have already been notified by Morgan Stanley that from June there will be an annual fee of £20 for having one of their credit cards.

[johno1066]

Have already been notified by Morgan Stanley that from June there will be an annual fee of £20 for having one of their credit cards.

 

 

Get the scissors out then, Chop chop This will open up even more competition for those companies wishing to undercut other companies with respect to charges. The Banks' spitefulness will ultimately end up benefitting those customers they are attempting to punish for daring to stand up to them!

[bankclaim]

do we know what time to expect news on Tom Brennan's case?

[PPMAN159]

Not sure-I have tried to get an order of play for the Court but cannot find one anywhere.

 

Does anyone know?

[crfx250]

All I know is a whole day has been set aside for the case so I spose we wont here anything until the end of the day unless there's an early adjournment

[skyrocket123]

I'm really worried. What if he messes up? what if he is a stooge? I can't help but feel if anyone was going to take it all the way it should have been Dave or Bankfodder or Bookworm. Not some solicitor out to make a name for himself. I've no confidence in him.

[PPMAN159]

Confidence or not Sky,at least Tom feels that he can achieve something from this case.

 

Agreed that he will make a name for himself if he wins but he also knows the consequences should he lose.

[skyrocket123]

I suppose what he acheives all depends on whether he is the real deal or just someone employed by the banks. We all know they will stop at nothing.

[crfx250]

Don't forget that Stephen Hone is in court today looking for a declaration.

That one will be settled way before Brennans case will.

 

 

Battle of the bank charges hots up with legal challenge-Business-Money-Consumer Affairs-TimesOnline

[PPMAN159]

I very much doubt if he is employed by the banks Sky.

[johno1066]

Pete's sake!!

 

This guy is risking his financial future, his reputation and career for what he believes to be right, give him the credit and support he deserves!!! This talk about stooge this, stooge that is quite frankly disgraceful and selfish behaviour.

[PPMAN159]

Well said Johno

 

I bet that all of the people who feel that Tom is just a 'stooge' will be only too happy to share in the success when he wins.

 

Thats the probl;em wirth this country-we are onky too willing to build people up and then knock them straight back down again when we get tired of them.

 

We should all get behind Tom-after all he is the one with the balls to take on the banks face to face

[Pliny the Penuriosus]

I agree with you johno & ppman. Some of the libelous comments about TB make you wonder just who! are the banks stooges.

[noomill060]

This TB bashing really is quite bizarre!