Hundreds of farms qualify to join fraud claim against Clydesdale

clydesdale bank. CYBG, tailored business loans, TBLs

New data shows hundreds of UK farming businesses can qualify to join a major High Court fraud claim against Clydesdale and Yorkshire Bank.

The case is being pursued in the High Court against the bank in relation to its selling of Tailored Business Loans (TBLs) and Fixed Rate Loans.

Litigation firms All Square Finance Ltd, RGL Management and Michelmores LLP, allege that Clydesdale and Yorkshire Bank, and the National Australia Bank, behaved fraudulently and dishonestly in the sale of these loans.

The announcement comes after new data was able to identify which business types and sectors were particularly affected from the thousands who took out these loans.

Analysis shows that Clydesdale or Yorkshire Bank customers in the farming sector were among those particularly affected, accounting for hundreds of eligible loans.

The largest eligible firms are now estimated to be owed millions of pounds by the bank, though average claim sizes are anticipated to be in the hundreds of thousands, with even the smallest loan sizes owed thousands of pounds, according to All Square.

Read the full story

in News

This website places cookies on your device. Refer to our Cookie Policy to see how we use cookies. By continuing to use the site, we’ll assume that you are happy for us to set these on your device. Find out more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.