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Legal Group Action Against Clydesdale
and Yorkshire Bank

Clydesdale or Yorkshire Bank Business Loan? 2019-03-21T10:44:25+00:00
Don't miss the deadline to join the Group Action
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Clydesdale Bank PLC (including Yorkshire Bank) and the National Australia Bank Legal Group Action

We are bringing a Legal Group Action against Clydesdale Bank PLC (including Yorkshire Bank) and the National Australia Bank. The cause of action relates to allegations of both banks acting fraudulently and dishonestly with respect to Fixed Rate Business Loans. Because the action relating to fraud and dishonesty is different to that of mis-selling, it may be that you are still able to claim against Clydesdale or Yorkshire Bank despite already having complained about the loan.

The legal action has already commenced with a letter before action being sent to both National Australia Bank and Clydesdale Bank. It is thought that the legal action could be worth more than £1 billion.*

allSquare has teamed up with RGL Management who are leading the group action against National Australia Bank and Clydesdale Bank. The legal team involved in the group action are Michelmores LLP (a top 100 full service law firm with 68 partners and over 450 staff).

The action also benefits from being fully funded by Augusta Ventures.

Who can join?

The action relates specifically to Fixed Rate Business Loans sold by Clydesdale and Yorkshire Bank. However, we would encourage any business that held a loan with one of these banks to sign up and we will check to see if they are eligible. We know that these loans were sold widely across the following areas:

  • Farming and agriculture
  • Property development
  • Dentistry
  • Hotels
  • Leisure centres
  • Restaurants

While loans were provided widely across these sectors, this list is not exclusive and any business that may have had one of these loans should sign up to ensure they don’t miss out on a potential payout.

Benefits of a Group Action

We have formed the Legal Group Action in an attempt to secure full and fair redress for customers of Clydesdale and Yorkshire Bank that have been sold a Fixed Rate Business Loan.

By grouping businesses together under a single group action, the whole group can benefit from legal economies of scale, such as:

  • A genuine No Win No Fee pricing structure (fees only payable if the group action is successful)
  • Sharing of documentation and information across group members
  • Full insurance against any adverse costs if the group action is unsuccessful
  • An expert legal team in place with experience of dealing with commercial and banking litigation as well as running group actions
  • Already complained? No problem.

How to Join the Group Action

Joining the Group Action is easy. The Group Action is open to anyone who has, or has held in the past, a Fixed Rate Business Loan with Clydesdale Bank PLC or Yorkshire Bank. This is open to any business owner, including limited companies, partnerships, and sole traders.

Even if you have previously complained about a mis-sold Fixed Rate Business Loan, as this Group Action relates to alleged fraud and dishonesty by Clydesdale Bank PLC and the National Australia Bank, you are still entitled to join the Group Action. This is the case even if your claim has been previously denied, either by the bank themselves or by the Financial Ombudsman Service (FOS).

You can even join if:

  • Your complaint has been previously ‘time-barred’
  • Your complaint was previously rejected
  • You have already accepted an offer of compensation
  • Your company has gone into administration or has been dissolved

If you want to join the Group Action, there are several ways to do this. You can speak to a specialist claims handler by calling us 0113 323 1950. We will check if you are eligible to join the Group Action and issue a claim pack to you within five minutes of your call.

Alternatively, you can complete a Claims Management Agreement (CMA) online to sign you up to the Group Action immediately. Just follow the link below that is applicable for your business and follow the on screen instructions:

For Directors of any other type of business, either active or dissolved, please call us on 0113 323 1950 or email groupaction@allsquare.co.uk and we will assess your case, and issue you with the applicable claim pack.

If you are unsure if your loan was a Fixed Rate Business Loan, we’d still encourage you to sign up. We can check for you if you are eligible to join and if not, we’ll remove your details from the action. There is no charge for this service.

Group Action in the News

There has been a considerable amount of media coverage about the Group Action against Clydesdale Bank and the National Australia Bank in the news. Please click on the links below to read further details.

http://www.thenational.scot/news/17189243.hundreds-of-claimants-join-court-action-against-clydesdale-bank/

https://www.pressandjournal.co.uk/fp/business/scotland-business/1598540/hundreds-join-bid-to-sue-bank-over-loans/

https://www.scottishfinancialnews.com/19790/lawyers-bolster-ranks-for-class-action-against-clydesdale/

https://news.sky.com/story/virgin-money-owner-cybg-faces-new-salvo-in-sme-loans-fight-11539460

https://www.afr.com/business/banking-and-finance/lawyers-build-numbers-for-class-action-against-nab-clydesdale-20181029-h179gb

https://litigationfinancejournal.com/rgl-partners-square-augusta-funded-claim-nab-clydesdale/

 More Information

If you require more information about the legal group action, please call us on 0800 0830 286 or 0113 323 1950. Alternatively email groupaction@allsquare.co.uk or complete the form below and a member of the team will get in touch.

*https://www.thisismoney.co.uk/money/news/article-4913074/Clydesdale-faces-1bn-claim-loan-scandal.html

Group action contact form

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