Hundreds of farmers across the UK could be eligible to join a Legal Group Action against Clydesdale (including Yorkshire Bank) and the National Australia Bank.
It is alleged that these banks “fraudulently” and “dishonestly” provided Tailored Business Loans (‘TBLs’) to thousands of businesses between 2000 and 2012, with the farming sector being particularly targeted.
What is a Tailored Business Loan (TBLs)?
TBLs are a specific type of business loan provided only by Clydesdale and Yorkshire Bank that were designed to help small businesses avoid increases in interest rates. However, when the base rate dropped, customers were locked into paying the higher, ﬁxed rates of interest. When customers asked to exit the loan, excessive break costs or early termination fees were applied.
Who can join the Legal Group Action?
If your business has had a TBL from Clydesdale or Yorkshire Bank, then you could be eligible to join the Legal Group Action. Over a thousand businesses have already signed up and more are joining each day.
Furthermore, you can still join even if you’ve already claimed before, your complaint has been ‘time-barred’ or you’ve already accepted an offer. Even dissolved companies can join.
Why join the Legal Group Action?
- Compensation could be significant – claim values are anticipated to be between tens of thousands to hundreds of thousands of pounds and can include consequential losses
- It costs nothing to join the group and you only pay fees if the Group Action is successful
- Joining is on a strictly “no win, no fee” basis
- Over a thousand businesses have already signed up, and with each new business that joins, the chance of significant compensation increases
- A top tier legal team has been appointed together with a leading litigation funder (Augusta Ventures)
Don’t miss your chance to claim
If you took out a loan with Clydesdale or Yorkshire Bank but are unsure if it’s a TBL, get in touch and we’ll check for you. You can call us on 0113 323 1950 or email firstname.lastname@example.org and we’ll be happy to help.