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Established in 1992

 

UK Bank Litigation

 

Why an IBAS Business Banking investigation makes sense

 

Banks and bankers no longer ‘enjoy’ the status of being automatically trusted as professionals.

If you have a business banking case and are being threatened by the bank’s ‘recovery team’ with a legal claim based on the bank's claim or demand or by Receivers or LPA Receivers an IBAS investigation will substantially improve your chances of obtaining the best possible result for both you and your business. Changes to regulation and bank regulators - voluntary codes of conduct - Bank of England - FSA - FCA - IBAS have been around for all of those regulatory changes and we have recorded the changes as they occurred for our own records and IBAS use in business banking case work. In some cases that specific knowledge has been the vital cog in the wheel of resolution.

IBAS aim to provide good specialist advice and resolution and when IBAS is involved immediately after demand for payment by a bank, our aim is to gain all information which we know is necessary to assess legal arguments - against existing case law. IBAS lay the 'groundwork' for successful defences or banking claims by first preserving any defences which then exist and yes, we have assisted in many cases which have been won by our members after litigation in the County Court, High Court and the Court of Appeal.

ILA (independent legal advice) Confirmation Certificates - provide banks with additional assistance. Banks and other lenders rely heavily on a solicitor providing them with their signed confirmation that they have provided independent legal advice to the bank's customer - which if correct then prevents the customer saying later that they relied upon bank advice or misrepresentations prior to signing documents. But, in our investigation those specific documents may not be what they first appear - as banks are required to provide truthful information for ILA to be properly obtained - IBAS has found that careful investigation can find an ILA Certificate to be unreliable.

Waiver of ILA (independent legal advice) - bank customers signing a waiver of ILA provides the bank with confirmation that the customer has been offered ILA but has refused ILA (by the customer signing the waiver). Banks and lenders use the signed ILA waiver document as evidence of their security position and in order to eliminate many of the ‘misrepresentations’ claimed by bank customers. Again, the ‘waiver’ may not be what it seems - IBAS investigations have provided evidence to discount dubious ILA waivers.

'I found IBAS to be Impressive & professional with no nonsense. I followed IBAS strategy totally and the result was spectacular. Thanks for putting my life back on track and saving me a bucket load of money - I cannot thank you enough. I would now start with IBAS and ignore all the others who are 'selling' an imitation of these guys but without IBAS knowledge! - AT

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Despite all the publicity banks and bankers have still managed to get away with ever increased profiteering from their commercial customers. Up till the Jackson Report in December 2009 the UK legal system was heavily biased towards banks winning any legal claim because considerable funds were required to force a bank into a litigation or even to defend a bank's claim. Banks made the best of their position and litigated freely, taking personal assets and homes to repay borrowings as and when they demanded. Some of the 'demanded borrowings' were deliberately inflated prior to demand i.e. by overcharging, inflated fees, additional property valuations and by forcing bank 'advisors' onto the business at very high additional cost.
 

Access to Justice has in our opinion been a very poor companion to businesses in dispute with their bank for many years. Often the most considered factor for making commercial litigation claims prior to 2013 was the financial implication of being liable for all legal costs for both sides if the case was lost. Banks with support from Government and taxpayers, as well as their well tuned 'litigation machinery' and profit driven recoveries sections - made banking litigation for business banking customers in dispute with their bank a nightmare scenario.

 
It was the Jackson Report which legitimized the Litigation Funding industry from 2010 and allowed more options for UK Business banking cases to pursue justice. Business banking claims against any bank now will have a better opportunity and many will gain the ability to fund a properly constructed claim or defence to a bank's claim.  

But, the availability of funding alone will not make a poor case into a good case. Many business banking complaints which IBAS receive also require specialist input and 'work' on the documentation and factual matters, banking procedures and bank record keeping, so they can be properly documented for the case to be progressed.

If litigation funding is required then 'polishing' of the 'rough diamond' is even more important because funders will assess cases for their funding with great care. That's because Litigation funding is a profit driven business and funders need to be sure their funds are properly allocated and protected.

Any application to obtain litigation funding requires careful 'case' analysis so that the case which 'presents' as a 'rough diamond' is not presented for litigation funding at that stage otherwise a 'turn down' will be the result and there may be no second chance!Litigation Funding

IBAS evaluate business banking dispute cases and assess whether litigation is or is not a possibility. Many business banking cases we assess are not suitable for litigation because the risks are just too great. We only recommend cases for litigation which are considered to be of very good merit and which can also be funded. Some of our cases are now progressing through the legal system. The good news for those with cases which IBAS has progressed is that we can determine whether the case is 'suitable' for litigation funding. IBAS will also assess the 'substance' which may be required to strengthen cases in order to be able to progress matters and to obtain the very best negotiating position.

IBAS business banking dispute negotiating experience has a proven strategy which provides claims and defences for business bank customers. IBAS has excellent banking investigation reputation and has featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and contributed to editorials and articles for the Sunday Times, Times, Daily Mail, Daily Express, Telegraph and Daily Mirror.

Independent Banking Advisory Service (IBAS) - launched in 1992 as a specialist business banking membership organization assisting bank customers with UK business banking account loan disputes and business banking debt disputes with their bank. Our analysis and investigation of business bank loans, bank accounts, banking contracts, business banking account facilities and banking debt recovery information has been instrumental in our member's success.

 

Last modified: 13th December 2018