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  #1  
Old 24-06-2009, 07:09 PM
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Default House of Lords Appeal

http://www.telegraph.co.uk/finance/p...ords-told.html

" Those charges "will necessarily exceed by a large margin" the real cost to the bank of dealing with unarranged overdrafts because they were "essential to the funding of the whole current account system", said Jonathan Sumption QC, for Barclays." - The Telegraph

So, is this an admission then that the charges are indeed penalties designed to fund the whole system at the expense of those who can least afford to leave a "buffer" fund in their account.
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  #2  
Old 24-06-2009, 11:01 PM
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Now thast is just how I would have wanted them to start the appeal. Admit that they are charging those leats able to afford it while those who can get away free.

Take from the poor to feed the rich.
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  #3  
Old 25-06-2009, 09:35 AM
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An admission at last.
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  #4  
Old 25-06-2009, 11:55 AM
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An admission at last.
And in Lords as well.Whats the betting the banks lose.Looks odds on from where I'm sitting.

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  #5  
Old 25-06-2009, 12:00 PM
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I wonder if the HoL would be perverse enough to rule in favour of the banks?
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  #6  
Old 25-06-2009, 12:16 PM
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I wonder if the HoL would be perverse enough to rule in favour of the banks?
The way I see DL is that they've already lost twice and I don't think its going to be 3rd time lucky.

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The real evil is not the payment of money, but the secrecy attending it (Chitty L.J. in the case of Shipway v Broadwood [1899] 1 QB 369, 373). .

The courts shall not make an enforcement order under section 65(1) if section 61(1)(a) (signing of agreements) was not complied with unless a document (whether or not in the prescribed form and complying with regulations under section 60(1)) itself containing all the prescribed terms of the agreement was signed by the debtor or hirer (whether or not in the prescribed manner

Moneylending transactions as a class give rise to significant social problems.

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  #7  
Old 25-06-2009, 05:16 PM
BOUDICCA BOUDICCA is offline
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Quote:
Originally Posted by Dragonlady View Post
I wonder if the HoL would be perverse enough to rule in favour of the banks?
Wouldn't surprise me!
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  #8  
Old 25-06-2009, 05:42 PM
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Nor Me,

What people must realise is that these Lords will have millions of pounds in shares with all the Banks ....and the banks have got to get their "lost" money back so that they can give a better dividend to their shareholders. and one way is by way of these high penalty charges my bet is that it is 50/50 maybe a little less.

sparkie
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  #9  
Old 25-06-2009, 08:31 PM
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Nor Me,

What people must realise is that these Lords will have millions of pounds in shares with all the Banks ....and the banks have got to get their "lost" money back so that they can give a better dividend to their shareholders. and one way is by way of these high penalty charges my bet is that it is 50/50 maybe a little less.

sparkie
They are ruling on the law and not on their dividends. Plus penalty charges has gone from the case already although it is the Law Lords and Lady law lord who have brought it up. I think it's 50/50 on ECJ rather than on the decision itself.
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  #10  
Old 25-06-2009, 09:47 PM
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They are ruling on the law and not on their dividends. Plus penalty charges has gone from the case already although it is the Law Lords and Lady law lord who have brought it up. I think it's 50/50 on ECJ rather than on the decision itself.
Hi nattie,


I still say money is the loudest talker and biggest persuader known in these modern times

sparkie
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