Stalling Tactics By NatWest?
As we recently reported, barrister Tom Brennan is taking NatWest to court for repayment of “illegal†charges which he claims the bank have taken form him, and substantial damages. Even though the case was pencilled in for the City of London County Court on Friday 13 April, it was adjourned at the last minute with the judge citing the need for more time to hear the case. Stalling tactics by NatWest?
The initial arguments will now be presented by both parties on the 30th April, with a full day set aside to decide whether NatWest actually has a case to answer. While NatWest have offered to refund Mr Brennan’s charges of £2,500 together with an additional £1,500 in compensation, they have not admitted to any wrong doing.
The main concern about the delay in hearing the initial arguments, which will decide whether the case goes to a full court hearing, is the 6 year time limit on claims. As a possible prosecution date is pushed further and further in to the future, so more and more potential claimants are losing
their right to take similar court action. The long the case drags on (and there will no doubt be appeals in due course) the more cash not only NatWest, but the banking industry as a whole will be safeguarding if the case goes against them.
The longer the case goes on, the more costs will be incurred and if the case is eventually found in favour of NatWest, they may be offered the right to claim costs from Mr Brennan. This would bankrupt the practising solicitor and force him to be struck off the legal register.
There is a lot at stake for all parties although the longer the case drags on, the more benefit for the banking community as a whole - and the larger the potential downside for Mr Brennan.
We will keep you up to date with developments.
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