The hospitality sector is believed to be significantly affected by loan mis-selling.
Business customers who took out a business loan after 2000 with Clydesdale or Yorkshire Bank (now Virgin Money), could be eligible to join an ongoing High Court Group Action, with a first court date set for December 2020.
Over 500 businesses from a number of sectors have already joined the Claim, with hundreds more currently being processed.
Limited companies, sole traders and partnerships, even dissolved companies are eligible and individual claims can run to £250,000 or substantially more, with the total claim estimated in the hundreds of millions. Even if a business has already made a claim, they could still be eligible to join regardless of the previous outcome.
All claims run on a “No Win, No Fee” basis and even if your business has already made a claim, you could still be eligible to join the Group Action. However businesses must sign up to be included and share in the proceeds of a successful claim.