Notifications
Clear all
26/05/2016 9:12 pm
Cheers Donna. At least there is a definite chance of success.
Who advised him not to spend the funds incidentally?
26/05/2016 9:17 pm
quote:
Originally posted by tinsoldier
[br]Cheers Donna. At least there is a definite chance of success.Who advised him not to spend the funds incidentally?
His lawyer advised.
D.Sweeney
27/05/2016 8:32 am
Cheers.
The galling thing I suppose is that had the bank sent the cheque in the first place to your husband this would all be moot.
Good luck.
27/05/2016 6:12 pm
quote:
Originally posted by tinsoldier
[br]Cheers.The galling thing I suppose is that had the bank sent the cheque in the first place to your husband this would all be moot.
Good luck.
Frustrating to say the least. Onwards and upwards
Thankyou
Good luck to you too
D.Sweeney
31/05/2016 9:44 pm
Interestingly my friend gave me a letter addressed to her deceased partner thus evening. It is from an accountant and business advisor in Glasgow and writes to him regarding important legal information regarding his sequestration. The first line states quite c!early and read, There has been a recent judgement in the Scottish Courts ruling that Sequestrations cannot be recalled or reopened after the debtor and trustee have been discharged. This is great news as you can now claim for PPI etc etc Does this apply to TD s ? I'm at court for a pre proof hearing. Fingers crossed. I'm still!l fighting my case.
31/05/2016 9:49 pm
It also has a leaflet with it giving examples of people they have helped Inc!using a man who was in a trust deed.
31/05/2016 11:04 pm
Hi Gleith
I received a similar letter quoting the same.
My interpretation was that they were using the ruling to try to get new business, without mentioning it is under appeal. Thanks to this forum if I was claiming, I would not have acted on that letter and would have waited for the outcome of appeal or further judgements - unless I was on a time limit to claim.
31/05/2016 11:09 pm
Does the leaflet give you any details about the judgment it mentions? Or is it as vague as the usual cold-calling references to 'government schemes', changes in the law' and so on?
Does it offer to help people reclaim the PPI? Possibly on a 'no win, no fee' basis?
In your shoes, I'd google the 'accountant and business advisor' in Glasgow, and see if you can find out more about them.
It all sounds just a little too much like 'fishing' for my taste.
31/05/2016 11:30 pm
Defo sounds like they are fishing for business, but my own opinion is that if it becomes law that Trust Deeds can-not be reopened, then i can envisage that the doors may be opened for a flood of claims against insolvency companies who have already jumped on the re-opening of Trust Deeds bandwagon and increased their fees revenue of course!
Can hear the adverts now,"Have you been miss-sold a trust deed
Has your trust deed been re-opened"
I know a bit dramatic but i genuinly believe we are not that far away from such a scenario, and i must say i did say many months ago on this forum that Trust Deed companies need to be very carefull in what they are chasing here as it would come back to haunt them, you reap what you sow in life and in business im afraid.
01/06/2016 12:33 am
quote:
Originally posted by littlemo
[br]Defo sounds like they are fishing for business, but my own opinion is that if it becomes law that Trust Deeds can-not be reopened, then i can envisage that the doors may be opened for a flood of claims against insolvency companies who have already jumped on the re-opening of Trust Deeds bandwagon and increased their fees revenue of course!
Can hear the adverts now,"Have you been miss-sold a trust deed
Has your trust deed been re-opened"
I know a bit dramatic but i genuinly believe we are not that far away from such a scenario, and i must say i did say many months ago on this forum that Trust Deed companies need to be very carefull in what they are chasing here as it would come back to haunt them, you reap what you sow in life and in business im afraid.
I can't say that I agree with everything you say here, but I do think you may have a point about the law of unintended consequences.
We've had a 'friendly IP' hint that these court cases are more about trust law than insolvency law, with the thought that "Were the trust deeds ever closed?".
Looking at the court of session case, that's pretty close to the argument being used by the trustee's side.
If the final decision is that 'a trust deed is never closed', then people need to know that's how it works. Maybe it needs to be in the legislation, and the trustee has to tell people that up front before they sign.
Then there's the acquirenda point which the late Lord Jones mentioned as part of his decision. If a TD isn't 'ended' after the trustee has made a full and final distribution what happens with an inheritance which is received after that?
What about the TDs where the trustee agrees to take an extra year of payments to cover the equity in a property? That's come up on other threads.
The PPI cases are based on the idea that the trustee has to make sure that all assets are fully gathered to pay creditors - even the assets that nobody knew about when the TD was signed.
The 'extra year of payments' TDs are based on the idea that the trustee can ignore part of the assets. Even if it's a big part.
Those two ideas don't match up. If the courts decide that the PPI trustees are right, how can other trustees ignore that and just take part of the asset?
What will happen to people who have signed up to a TD on the understanding that they're only paying part of the equity?
I'm not sure that there will be much scope for claims about past 'mis-selling' trust deeds in general. It might be slightly different for people who have signed up to pay back part of their equity.
The big impact will be on future trust deeds. Any unintended consequences will bite there.
01/06/2016 5:08 pm
The case in the court of session wa connected to a Trust deed, so I'm not sure which case this company are referring to. If they are confusing the two then that's a worrying sign for starters
The fact they are writing to a deceased person surely rings alarm bells too!
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
01/06/2016 7:24 pm
Just putting this out there but....were a bank to reissue a PPI cheque to an awardee, after cancelling one they believe was falsely sent onto a former trustee.
How can a former trustee then apply to the court to re-open a trust deed with the intention to gather in these funds for ex-creditors? There would be no funds to gather in any more as the PPI award would have been made to the claimant i.e. were the funds to be banked, gifted to someone else or spent.
01/06/2016 8:34 pm
Hey folks, BDO are now waiting on Court of Session ruling
Before trying to get a new trustee appointed. My husband received news from his lawyer today. Fingers crossed[:I]
D.Sweeney
01/06/2016 9:27 pm
Was at court today. Sheriff said the decision with my case will be made on 4th July. Sheriff asked if I had any more evidence and to bring it with me and the letter too as I mentioned it to him. The trustees solicitor said it would be law that would decide not facts. Not sure what evidence they want but will take as much as I can in July I still have a good feeling. That's three times I been at court and dine it myself each time.
Any advice what evidence I could present would be welcome.
03/06/2016 4:44 pm
I've just had a chat with an advisor at my claims company who say they won an appeal a couple of weeks ago in court which means trust deeds cannot be re-opened.
They are going to give me the details on Monday as it is not as yet on the Scots Court website
Anyone hear of this?
