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Banking and Financial Services


Osteopathic Education and Research Ltd (trading as European School of Osteopathy) v Purfleet Office Systems Ltd (formerly NCS Management Ltd) [2010] EWHC 1801 (QB) (HHJ Seymour QC, sitting as a Judge of the High Court)

Asset finance, leasing agreements, marketing support, breach of contract, misrepresentation and fraud by supplier.
Ross represented the successful claimant charity in a complex case involving a series of leasing agreements for photocopying equipment supplied by the defendant to the claimant and funded by asset finance agreements with leasing houses. The defendant induced the claimant to enter into each ever more expensive agreement with the promise of net financial savings to be achieved by the payment to the claimant of “marketing support”. The defendant represented that the marketing support pool was provided by the photocopier manufacturer. In fact, the defendant had paid the marketing support from the proceeds of sale obtained from the leasing houses for the purchase of the equipment, with the result that the claimant ended up repaying the marketing support payments to the leasing houses as part of its rental obligation. In consequence, the claimant ended up with a 5-year liability of close to £1 million for the hire of 5 photocopiers. The claimant was awarded over £660,000.00 in its claims for misrepresentation and breach of contract. The judge described the business of the defendant, as conducted by its sales representative with respect to the claimant, as “fundamentally dishonest”.

Ross Fentem

Tanks & Vessels Industries Ltd v Devon Cider Co Ltd [2009] EWHC 1360 (Ch) Ch D (Lesley Anderson QC sitting as a Deputy High Court Judge)

Retention of title dispute; title had been reserved and accordingly the goods had been converted under the Torts (Interference with Goods) Act 1977 s.1(a). The Manufacturer was, accordingly, entitled to an order for delivery up of the plant, although as the items were ordinary items of commerce, the company was entitled, in the alternative, to pay the manufacturer damages equivalent to their market value. References: LTL 22/6/2009

Hugh Sims

Jones v (1) Churcher (2) Abbey National plc [2009] EWHC 722 (QB); [2009] 2 lloyds Rep 94

Recovery of mistaken payment; ministerial receipt by bank; defence of change of position

Richard Ascroft

Bunney v Burns Anderson 2007 EWHC 1240

Scope of jurisdiction of the Financial Ombudsman Service in high value claims.

John Virgo

Brinsons v Financial Ombudsman Service [2007] EWHC 2534

Scope of jurisdiction of the Financial Ombudsman Service over mortgage-endowment linked mis-selling claims.

John Virgo

Abeles and Others v Equitable Life Assurance Society

Group action on behalf of about 400 claimants for mis-selling of annuities over a period of years, 2005-2007.

Adrian Palmer QC
John Virgo

Governor and the Company of the Bank of Scotland v Neath Port Talbot County Borough Council [2006] 2276 EWHC (Ch); [2008] BCC 376; David Richards J

Application by local authority to sell PFI assets pending trial of a claim by the funder of a failed PFI project of a right to remove and sell them notwithstanding a PFI vesting clause on contractor default.

Stephen Davies QC
Neil Levy

Baker v Clark [2006] EWCA Civ 464

Case concerning efficacy of trustee exoneration clauses protecting occupation pension scheme trustees.

John Virgo

Finance U Ltd v Gabriel [2006] GCCR 5801

Whether credit agreement a multiple agreement within s 18 Consumer Credit Act 1974 and unenforceable as not properly documented.

Neil Levy

Triodos Bank NV Dobbs [2006] C P Rep 1

Whether appeal should be stayed pending proceedings in European Court of Human Rights; whether judges to recuse themselves on grounds of bias

Neil Levy

Seymour v Caroline Ockwell & Co; Zurich IFA Ltd [2005] EWHC 1137 (QB), [2005] PNLR 758 (Bristol Mercantile Court, 13 May 2005)

Offshore unregulated fund; claim by investors against financial adviser and provider of offshore insurance "wrapper bond"; negligence; breach of statutory duty.

John Virgo
Gerard McMeel

Triodos Bank NV v Dobbs [2005] 2 Lloyd's Rep 588

Whether liability within scope of guarantee; whether estoppel by convention prevented guarantor asserting guarantee covered only a specified loan.

Neil Levy

London North Securities Ltd v Meadows [2005] GCCR 5381, CA

Whether CCA regulated credit agreement enforceable; whether sums to clear existing mortgage arrears credit or charges; whether insurance premiums credit or charges.

Adrian Palmer QC
Neil Levy

Edwards v Lloyds TSB Bank Plc [2004] BPIR 1190

Forged signature on a mortgage deed - whether legal mortgage or equitable mortgage.

Neil Levy

Triodos Bank NV v Dobbs [2004] EWHC (Ch) 845; Lewison J

Trial of guarantor’s claims against lender and receivers for misrepresentation, conspiracy, shadow directorship and breach of duty in connection with sale of failed property development.

Neil Levy

Bristol and West Plc v Bartlett [2003] 1 WLR 284; [2002] 4 All ER 544, CA

Mortgages - proceeds of sale insufficient to meet outstanding debt - relevant limitation period to recover the shortfall.

Paul French

Corbett v Halifax Building Society [2003] 1WLR 964, CA; Times 28.12.02

Whether sale of mortgaged property tainted by fraud and to be set aside.

Neil Levy

National Westminster Bank v Somer International (UK) Ltd [2002] 1 AER 198

Availability of defence of estoppel/change of position to restitutionary claims for return of money paid under a mistake of fact.

John Virgo

Broadwick Financial Services Ltd v Spencer [2002] GCCR X51, CA

Whether non-status credit agreement extortionate.

Neil Levy

First National Bank v Walker [2001] FLR 495

Affirmation of charge as defence to undue influence claim.

Rajinder Sahonte

Royal Bank of Scotland v Etridge and others (No. 2) [2001] 4 All ER 449, HL

Claim to set aside mortgage for undue influence, misrepresentation or other wrongdoing by a principal debtor.

Loosemore v Financial Concepts 2001 Lloyds Law Reports Professional Negligence 235

Impact of the Limitation Act on claims for mis-selling personal pension plans.

John Virgo

Gorham v British Telecommunications plc [2000] 1 WLR 2129

Duty of care owed by financial adviser to client's dependants when advising on retirement options.

Adrian Palmer QC

National Westminster Bank Plc v Story & Pallister [2000] GCCR 2381, CA

Bank recovery of loans and overdraft - whether regulated by Consumer Credit Act 1974

Neil Levy

Weatherill v Lloyds TSB Bank PLC New Law Transcript, 26.7.00, CA

Judge hearing bank recovery claim having shareholding in bank - whether bias.

Neil Levy

Woolwich Plc v Gomm (2000) P & CR 61; Times 21.9.99, CA

Undue influence defence to mortgagee's claim to possession.

Neil Levy

Jarrett v Barclays Bank Plc [1999] QB 1, CA

Conflict of laws - Consumer Credit Act 1974, s 75 - connected lender liability.

Neil Levy

Hale v Guildarch [1999] PNLR 44

Acted for Defendant; no personal liability of employee in respect of negligent advice given in connection with sale of Home Income Plan product.

John Virgo
Adam Chippindall

Searles v Cann & Hallett 1999 PNLR 494

Scope of solicitor's duty of care to third party in connection with provision of protection scheme for investment plan.

John Virgo

Nijar v Mann (1998) 32 HLR 223

Whether tenancy binding on mortgagee.

Rajinder Sahonte

Cocking v Prudential 1996 CCH Commercial Law Cases 692

No right to stay of proceedings over pension mis-selling despite availability of PIA Review.

Adrian Palmer QC
John Virgo