Independent Banking Advisory Service
Established in 1992
What does IBAS Membership Offer You?
Since 1992 IBAS has obtained information directly and indirectly from banks and has inspected business bank account documents and agreements in our banking case work to determine what was agreed by the business customer and how it was verified by the bank. Where we have investigated business banking disputes - we have also compared the bank’s actions and agreements against regulatory information which were current at the time of the agreements with the businesses. That means bank's 'concealed' information can be used by IBAS for our members to resist the bank’s claim or negotiate it from a better position to obtain a better result than would otherwise have been possible.
IBAS is completely independent and we have maintained records of the standard regulatory bank practices and business banking terms and agreements since 1992 which is archived for IBAS use for our IBAS Business banking Investigations. We have also been involved directly with all regulatory bodies since 1992 and we aware of what they can do, might do and also what they will not do - which provides those for whom we investigate banking matters with truly ‘hands on’ factual assistance.
Banks will produce documents which they will rely upon for their legal claim but it is vital that the customer’s advisor knows which documents banks will be attempting to hide to better protect their position. IBAS knowledge and bank information records from current and historical case work since 1992 will assist all those who believe they have a legitimate complaint against a bank in any business banking issue or business banking account dispute.
Historical banking documentation & Historical Bank Regulators and ‘positions’ - The knowledge gained from seeing many hundreds of business banking agreements and contracts over a long period of time whilst carrying out extremely detailed business banking case investigations has provided our investigation team with the ability to ‘pick up on’ unusual or abnormal banking acts or ‘procedures’. The unusual aspects alert us to the requirement for a deeper forensic examination of all events surrounding the ‘unusual aspects or procedures’.
Because of the many IBAS business banking investigations we have carried out over 25 years (which has has also provided IBAS with a great deal of business banking fact and information) it is factual and logical that IBAS will have greater knowledge of business banking procedures and documentation, strategy and bank regulators and regulation than any solicitors or any other entity outside of the BBA, the banks themselves and the bank’s chosen top 10 banking lawyers.
So, what can an IBAS Business Banking investigation provide? The short answer is an IBAS investigation will provide a great deal of clarity and fact which is not available otherwise.
Since 1992 many solicitors and barristers have come to IBAS with ‘cases’ where their clients claimed the bank had acted incorrectly or very badly to the customer’s financial detriment but often the factual information was sadly lacking and IBAS business banking investigations were then required to provide both facts and precise calculations to prove the facts.
Example One: Home possession case: The bank sought possession of a business owner’s home on the basis of an amount they claimed was owed to the bank after demand on a personal guarantee debt which was supported by a bank mortgage over her home. However, the customer believed the debt was inflated by bank overcharging. The barrister sought the facts to undermine the bank’s case for possession. IBAS carried out calculations requested by the barrister to establish the charging for the previous six years based on the banking facilities provided.
IBAS investigation of the 6 years of business bank statements and facilities up to the bank’s demand showed no evidence of overcharging. However, our team perceived anomalies just prior to the six year period and we requested the barrister’s instruction to proceed further. Our further investigation beyond the six years proved that the bank had been overcharging interest on balances and that the bank had inflated the balances shown by previous overcharging. Therefore, the debt claimed by the bank was totally incorrect and there was a substantial defence to the debt the bank were claiming.
Conclusion: The overcharge and the defence to the bank’s claim would not have been apparent or available without IBAS investigations - which then provided the evidence for the barrister to counter the bank’s claim.
Sometimes, it is not the bank which prevents a business banking case from ‘moving onwards to a conclusion’, although the bank may have created the original problem or dispute. IBAS involvement as a truly independent banking investigator can determine the best route for the customer.
Example Two: Mrs H was deceived by her husband who borrowed funds against their home and the bank attempted to enforce against the wife for the secured debts on their home because of the husband’s business debts. Mrs H was introduced to a solicitor by CAB but he had proved to be ‘unable’ to protect her position and his competence was questionable. IBAS investigation of Mrs H’s position led us to conclude that her case was much stronger than her solicitor had attempted to put forward and her solicitor appeared to be accepting the bank’s position much too easily. Our conclusion was that she required much better representation and we offered our assistance. The case was eventually heard in the Supreme Court and Mrs H then won her case on appeal.
Conclusion: IBAS knowledge, input and advice was instrumental in the case reaching a successful conclusion in the High Court.
Why does an IBAS Business Banking investigation make sense?
Too many businesses and business owners and directors still accept what they are told by banks, bankers and even their own solicitors without seeking specialist advice from IBAS - which means that banks can gain the ‘upper hand’ even when they have acted incorrectly, negligently or deviously. The UK news has been full of banking irregularities and deceptions since the banking ‘meltdown’ of 2008 with some massive fines and on top of those the HBOS ‘Reading’ fraud trial recently has illustrated why banks and bankers should 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 at Court based on their banking 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 - we have been around for all of those regulatory changes and have recorded the changes as they occurred for our records and our use in business banking case work. In some cases that specific knowledge has been the vital cog in the wheel of resolution.
ILA Confirmation Certificates also 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 or lender’s customer - which if correct then prevents the customer saying they relied upon bank advice or misrepresentations prior to signing documents. But, even then in our investigation those documents may not be what they first appear, as a bank or lender is required to provide truthful information for ILA to be properly obtained and that has not always been the case and careful investigation may find the ILA Certificate as unreliable.
Waiver of ILA - bank customers signing a waiver of ILA provides the bank with confirmation that the customer has been offered ILA but has then refused (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 although the bank will always claim it is correct. IBAS investigations have provided evidence to discount dubious ILA waivers which has been to the customer’s benefit.
Will our business banking investigation make a poor case into a good case? - not even IBAS can do that. But, IBAS Investigations do turn poorly documented cases into better organized, factually evidenced and better presented cases, which then have merit - which also means they are more likely to succeed in a worthwhile resolution or more able to obtain litigation funding.
Independent Banking Advisory Service (IBAS) - IBAS launched in 1992 as a specialist unincorporated business banking membership organization assisting bank customers with UK business banking account/loan account/mortgage account and security disputes and business banking debt disputes. Our bank 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.