Letter to HSBC Board

[martdj]

This is the wording ofv the letter i am considering sending the members of the board of directors at HSBC, with copies to Lord Falconer, my MP, The Law Society and anyone else i can think of!!

Let me know what you think

 

 

Claim No xxxxxxxxx

 

 

ACCOUNT NUMBER xxxxxxxx

 

12 May. 07

Dear

,

 

 

As a member of the board of directors for HSBC PLC I would like to draw your attention to what may be financial mismanagement by certain sections of your company namely DG Solicitors.

 

As you are well aware there have been numerous claims made against financial institutions, such as yourselves, for the return of various unlawful charges made on customers’ accounts. The law on this is well documented viz. The Term permitting the Companies to levy such charges is unenforceable under the Unfair Terms in Consumer Contracts Regulations 1999, Unfair Contract Terms Act 1977 and at Common Law. The OFT have also ruled on these matters.

 

These customers have had to resort to the Small Claims Court in order to recover these charges as the companies involved are unwilling to settle these claims immediately. As a result of this many of these claimants have to initially pay the court charges for the issue of claims causing further financial hardship.

Despite receiving notice from the court of these claims, many of these companies, and yours is a prime example, are abusing the court system by using the time constraints to delay payment.

In the case of HSBC I am not aware of any case that has been successfully defended, however I am aware of around 200 claims that have been settled prior to any court hearing. If those cases have all gone to the small claims track, at a conservative average of £50 each in costs, then that is at least £10,000 your company has lost. If you then add the interest charged on each of these claims the total amount your company has lost runs into tens of thousands of pounds.

Your shareholders may find this to be financial mismanagement.

 

These figures don’t even take into account the wasted time and court fees that DG Solicitors (part of your company) have made. Many of the district judges are now realising the blatant abuse of process and as such are ruling against the banks, and in some cases the banks are facing financial penalty by way of a wasted costs order.

 

It is in the interests of your shareholders, the courts and your customers that an end is put to this abuse of the legal system and this financial mismanagement.

 

I would draw your attention to the terms of the contract which is agreed by you t at the time that these claiments open their accounts. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

I am shocked that your company is acting in this manner as I had always reposed confidence in your integrity and expertise as my fiduciary.

 

 

 

 

Yours faithfully

 

 

Martin Johnson

[nettyg]

woudn't hurt to try - but spell 'claimant' correctly before you post it off;)

[martdj]

ok I was going to spell ckeck it first

[martdj]

Well its sent now and to Dept of Constitutional affairs so lets see what happens

[rory32]

Good luck Martin......it'll be interesting to see if you get any sort of response (but it's worth a try).