Bank acting dishonestly

[rusty100]

Hi There,

Trying to do this in small chunks as a very complex & confusing case.

What documents should there be if bank requires any form of security or guarantee?

Is there a normal procedure the bank should follow to get security?


Why can't I have a written response from the bank for not having documents I have requested as per the data protection act?
They want to talk to me over the phone.

Not sure how to proceed.

Regards

 

[rusty100]

Having looked through the forum using search words i.e. bank indemnity, personal guarantee, bank guarantee, factoring indemity, it appears they have answered my first two questions.

My situation resembles some of the cases I have seen.

It is also apparent that the bank in question has tried to cover their tracks, by fabricating a letter in answer to my Data Protection Act request.

With this knowledge, I am not sure how to proceed as the bank want to talk to me as opposed to a written final response to my complaint. Neither giving me the complaints procedure or address to direct the issue to.

I currently have a charge on my house & I am looking for them to set it aside based on my findings.

I have tried in the past to get legal representation, but have been refused on the basis that there is a signed legal document.

My case is very lengthy & complex, have been picking through it since 2004, & have now drawn many ways the bank & the company have acted dishonestly.

Any suggestions on how to proceed & finally put it to bed would be greatly received.

Thanking you all from now.

Rusty

 

[CertaxBexley]

Not sure I understand you;
A bank may only have a signed document from the person providing security or guarantee.
In the case of Husband & Wife where husband has taken a loan guaranteed against a jointly owned property, following a high Court decision, the bank requires the Wife to take independent legal advice, before excepting her signature on any guarantee.

 

[Zeno]

In simple terms, are you saying that the bank holds some sort of guarantee in their favour that you belief to be fraudulent?

 

[rusty100]

Yes, absolutely.

 

[Zeno]

Yes, absolutely.

Me or Certax?

 

[rusty100]

Sorry, you Zeno.

 

[rusty100]

Hi Certax,

I do believe there are Etridge issues involved.

 

[rusty100]

No independant advice given or offered.

Certainly not included in the bundle information I have requested from them.

 

[Zeno]

Can you not give us a brief summary of the case? I am not saying that I can help but anyone who can will need the facts to go on.

 

[rusty100]

Took over a directorship, bank sent factoring agreement in 2002. Business running ok. 2003 they sent an indemnity, to my knowledge it was the continuation of the factoring agreement. Was sacked from company took them to a tribunal & won, as I really was a mere employee. The company moved factoring to another company without closing the old account, hence bank calling for it.

Sorry, its a very long story, will add more as I go along.

Do u have any specific questions?

 

[Zeno]

Without any shadow of a doubt the best thing for you do do is to get professional legal help. This is far to complicated for the forum.

 

[rusty100]

It is the complex nature of the case why I have not been able to get professional help. It was the same for my Tribunal, did most of the work myself. Got help in the final hearing only.

I suppose I am trying to find the basis/ grounds for professional help to grasp.

Thanks for your comments Zeno.

 

[Ian J]

Took over a directorship, bank sent factoring agreement in 2002. Business running ok. 2003 they sent an indemnity, to my knowledge it was the continuation of the factoring agreement. Was sacked from company took them to a tribunal & won, as I really was a mere employee. The company moved factoring to another company without closing the old account, hence bank calling for it.

Surely the idemnity that they sent you would have been headed "Warranty" or Guarantee" or something similar. Without delving too deeply into the background on a public forum it would seem that there has been an attempt to deceive although I'm not sure by whom to whom and it seems to me that your case should be against the company shareholders and not the factoring company.

Although my background is in factoring it isn't a factoring specialist you need but a lawyer and unfortunately I am not one but all I can add is that it would have been impossible for the company to move from one factoring company to another without closing the first account as the factors would have had a charge over the assets which they would not have discharged without payment in full

 

[rusty100]

Thanks Ian.

The Indemnity is marked as Indemnity, there are no words withinin it mentioning warranty or guarantee as I would questioned that.

The attempt to deceive was by both bank & company. The company changed names etc, took them to a tribunal & won.

You mention it would be impossible to move factoring company, the new factoring company did not clear the old debts with the payments they received. Possibly by the instruction of the new director.

Old factoring company aware of that of new, as they tried to chase the customers who said they had paid new company.

There were no assets to my knowledge, hence the indemnity possibly??

 

[Williams lester]

What do you mean by the company changed names?? Also what did you take them to a tribunal for? For changing names?? Think your posts need to be a bit clearer as to what points you are trying to make and what information you hope to gain from the forum.

 

[rusty100]

The company I was working for changed its name as a way of escaping responsiblities & obligations to suppliers & creditors. Tribunal was for unfair dismissal, it was clear that I had been used as a form of scapegoat. Both company names were implicated by way of TUPE.

 

[Dawg]

All very confusing. You state:

I have tried in the past to get legal representation, but have been refused on the basis that there is a signed legal document.

This is not a basis on which legal representation is refused. Are you sure representation was not refused because the other side's position is legally watertight and any attempt at litigation would be pointless?

Took over a directorship, bank sent factoring agreement in 2002. Business running ok. 2003 they sent an indemnity, to my knowledge it was the continuation of the factoring agreement. Was sacked from company took them to a tribunal & won, as I really was a mere employee.

Confusing again. Were you one, the other or both?

It is the complex nature of the case why I have not been able to get professional help.

It is the complex nature that requires the help. Are you able to fund any legal challenge? Is this a possible cause of the problem in not having representation? If you have the funds, and it is not a frivolous case, you wil have no trouble in getting representation.

How far up the ladder have you gone? If you feel that the bank is not fulfilling it's legal responsibilities have you written to the Ombudsman? Have you asked to communicate with the head of department?

Assuming you have a valid case, and that you will not be steamrollered, I'd advise getting capable legal representation as soon as possible. As expressed here, and as answered here, your problem is far too complex to be resolved on a forum, and we are all wasting time pretending that it is.

 

[Ian J]

If you feel that the bank is not fulfilling it's legal responsibilities have you written to the Ombudsman?

I'm afraid that the Ombudsman doesn't cover the factoring subsidiaries of banks

 

[rusty100]

Hi Dawg,

Thanks for your comment. You mentioned getting capable legal representation, this I have been trying to do for years. Factoring seems to be an area not really recognised & understood or even regulated by any particular statutory body.

The contracts are watertight by the mere fact it is a legal document.

This does not make it correct in how signatures are obtained.

I was both a director & employee of the company.

I do not want to waste anyones time, I have been picking through it for years & endeavour to put an end to this sorry situation.

Thanks all for your comments.

 

[Dawg]

I'm afraid that the Ombudsman doesn't cover the factoring subsidiaries of banks

I was thinking more about the lack of response to a Data Protection Act request, post #1. This will be covered by an Ombudsman I'd imagine.