Tda is right I only got £1.10 but then again it was only for £1339.00. good luck.

I see that the supreme court will be sitting in Edinburgh for up to four days in June - the list of cases to be heard is being finalised.

It's possible that the Mond case will be one of those on the list. If it isn't, then surely time must be up for him to make an appeal? That will be almost a year since the court of session judgement.

In the meantime, didn't the most recent Donnelly judgement - the one which the bank lost - say more or less "folk can't just keep hanging about until Mr Mond decides if he's going to appeal or not".

Perhaps Turbobhoy means how much interest might his funds have gained had Mond not held onto them.

Does anyone know where disputed funds (PPI for example) are held?

For example must they be kept in a separate account for clients in the Trust Deed, or could they be cashed into the Trustee general company account?

I am wondering if cash flow is a potential issue with some Trustees holding onto money.

Just a thought although I would imagine and hope there is a separate account to hold such funds.

My cheque was simply held onto and never cashed. For 8 months.

I'm still fighting for interest I believe I'm due.

Hi Firewalker.

If the trust deed hasn't been 're-opened' I can't see how the trustee could bank the cheque at all. I guess they'd just hold onto it like tinsoldier mentions.

If the trustee was 'in office' these funds should go into a client account. These accounts are regularly reconciled and are insured.

I really don't think there's a cash flow dimension to this at all.

Of course whether a former trustee - as that is what they are - had the right to hold onto funds which weren't yet theirs to do anything with is another debate altogether, and I believe investigations into the legality (and morality) of this has to come if and when Mond's appeal is turned down.

The whole PPI and trust deeds being re-opened has been dealt with very badly. There was no guidance in place from the AiB, as it was such a new development, so nobody knew where they stood legally. I thought the CoS verdict last year would have been the end of it (it was for me as I got my funds) but it seems not.

Here's. An other example for trust deed assets just say I'm on my parents will to inheritance trustees know of this when I receive that money it was part of the trust deed as a known asset yet they can't touch any of it so how does this differ from ppi ?

The assets mentioned here only became yours when you became entitled to them Turbobhoy. You're not entitled to an inheritance until someone passes away leaving it to you in their will (or you being entitled to it by law if there was no will). You have nothing until they actually pass away. If that happens after your discharge then you're in the clear. If it happens during your trust deed the trustee will have an interest.

With PPI you were entitled to a refund when your trust deed began. The fact that it hadn't been claimed at that point is irrelevant; the ability to claim it was there.

You couldn't claim an inheritance from someone who remained alive. The assets are only yours once they've passed away.

quote:

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Originally posted by TDA (Debt Adviser)
[br]Hi Firewalker.

If the trust deed hasn't been 're-opened' I can't see how the trustee could bank the cheque at all. I guess they'd just hold onto it like tinsoldier mentions.

If the trustee was 'in office' these funds should go into a client account. These accounts are regularly reconciled and are insured.

I really don't think there's a cash flow dimension to this at all.

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Thank you for clarifying TDA.

Does anybody know if Mond has a deadline for appealing to Supreme court. This has gone on for so long now .

Following the Court of Session’s decision in Dooneen Limited & Others v Mond, the Sheriff Appeal Court has issued its judgement in the case of Donnelly v RBS which centred on a PPI payment.
Mrs Donnelly borrowed money from RBS, and afterwards, became insolvent and entered into a Trust Deed, from which she was discharged some seven years later. RBS was not paid in full from the proceeds of the Trust Deed.
Some months after her discharge from the Trust Deed, Mrs Donnelly became aware she had a claim for mis-selling of PPI and submitted a claim to RBS, which they accepted. However, they did not pay Mrs Donnelly the full amount and “set off” her compensation against the money owed by her prior to her Trust Deed, claiming “set off”. The Sheriff originally found in favour of RBS and Mrs Donnelly appealed. Meantime the Court of Session determined that the PPI payments in cases such as these should fall to the debtor, in such circumstances.
Unsurprisingly, the Sheriff Appeal Court has followed this reasoning and despite some impressive legal arguments from RBS, overturned the original decision and fell into line with the Court of Session.
Unless Dooneen is appealed to the Supreme Court, it is now the position that once a Trust Deed is discharged, the debtor should receive any monies from a PPI claim, so long as the claim arises after the discharge. The Banks may not “set off” any claim for monies outstanding.This seems very clear. Why are we waiting ?

To tda why does mr mond not com on to this forum and tell us what his intentions are ?

Hi Turbobhoy.

With respect, why are you asking me?

Hasn't there been reference in the past to one of the experts here knowing Mond TDA?

Perhaps where Turbobhoy is coming from.