All articles by Greg Standing
Greg Standing
Adaquate procedures against bribery
However, implementation of the Act was delayed to provide guidance on certain provisions of the Act that were raised as concerns during the consultation process
Private purchasers and costs on discontinuance of claims
Greg Standing, a partner in Wragge & Co LLPs finance, insolvency, recoveries and sales team, shares the latest on Teasdale v HSBC Bank Plc and Welcome Financial Services Ltd v Nine Regions Ltd ta Log Book Loans (LBL)
Casebook: litigation costs – reform is on the way
Much of the consumer credit and other litigation brought against finance companies is funded by conditional fee agreements (CFAs) and after the event insurance policies (ATE insurance). If they lose, they dont pay their solicitors costs, and the costs of the winning defendant finance companies are covered by the insurance policy.
Casebook: Contractual right to costs in the small claims track
In Shaw vs Nine Regions Ltd, Shaw issued proceedings in the small claims court seeking a declaration under section 140A of the Consumer Credit Act 1974 (the Act) that the relationship between him and Nine Regions arising out of a loan agreement was unfair.
Casebook: Unfair relationship applies to live agreements only
In the case of Soulsby and Soulsby vs FirstPlus Financial Group Plc (1) and Loans.co.uk Limited (2), FirstPlus advanced money to the claimants under three successive written credit agreements arranged via a broker
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casebook: Finance company loses out on title fight
There has been a Court of Appeal decision involving Section 27 of the Hire Purchase Act 1964, one of the exceptions to the nemo dat quod non habet principle of English law, that no one can pass better title to goods than they possess. In Kulkarni vs Manor Credit (Davenham) Ltd (Manor), Mr Kulkarni ordered a Mercedes from Gwent Fleet Management Ltd (Gwent)
Casebook: Voluntary vs compulsory liquidation
The company has placed itself into voluntary liquidation Can the finance company take steps to protect itself if it suspects there has been mismanagement or misappropriation of funds within the company
Casebook: The meaning of credit
In a welcome decision for finance companies writing Consumer Credit Act 1974 (the Act)-regulated business, the Court of Appeal has provided some clarification on the statutory meaning of credit, how the amount of credit should be calculated and whether interest can be applied to charges for credit
Casebook: Creditors’ rights not extinguished
Last month, I reported on the Office of Fair Trading (OFT) draft guidance note on how to comply with duties to give debtors and hirers copy documents and statements of account following requests under sections 7779 of the Consumer Credit Act 1974 (the Act).
Casebook: Guidance on giving information
Readers are likely to have seen an increase in requests for information under sections 77(1), 78(1) and 79(1) of the Consumer Credit Act 1974 (the Act) The Office of Fair Trading (OFT) has published a draft guidance note to help businesses comply with their duties to give debtors and hirers copy documents and statements of account under the Act.