Much will depend upon RBS having acted illegally. This will usually be judhed against the terns of any lending facility. Just because RBS states that the business is in default it does not follow that they are right. If RBS has treated an account as if it were in breach of the terms of its borrowing facility with RBS when on a close analysis this is not true then RBS itself is the party in breach. Close attention will need to be paid to the terms of financial covenants and what is meant by ‘valuation’. Key bank correspondence will centre around the commissioning of so called ‘valuations’ and any internal calculations of financial default.
Those who have given personal guarantees should not necessarily roll over and certainly should consider applying to have any statutory demand set aside.
The introduction of another organization in the RBS loop, West Register, may allow borrowers to consider whether there has been an illegal means conspiracy between RBS and West Register.
The strength of an individual case is likely to turn on the documents. Lawrence Tomlinson’s report states that the Sunday Times ‘has uncovered’ evidence including internal RBS memos.
email: Patrick.selley@keystonelaw.co.uk
No comments:
Post a Comment