3 Day High Court trial adjourned as solicitor omits to find counsel

A three-day High Court trial was due to begin today with Judge Clive Sheldon QC asked to consider whether a borrower on the failed P2P platform Lendy, is liable for over £3m of fees and penalties.  In written filings made to the court prior to today, the borrower was expected to argue that she wasContinue reading “3 Day High Court trial adjourned as solicitor omits to find counsel”

P2P Lender Assetz was ‘innocent victim’ to Fraud as borrowers declared bankrupt

Deputy ICC Judge Paul Greenwood granted a bankruptcy petition against two borrowers who obtained a £1.89m crowd-funded loan from P2P firm Assetz Capital. The borrowers were said to have been “knowing parties to a mortgage fraud exercised on the Assetz companies, which were innocent victims of that wrong“. An application for disclosure of the lendersContinue reading “P2P Lender Assetz was ‘innocent victim’ to Fraud as borrowers declared bankrupt”

Lendy borrower faces £5m claim as she hunts missing ‘Mr Mohammad’

Lendy Ltd was a so-called peer-to-peer lending company which facilitated the crowd funding of loans by members of the public secured against property and other assets. It was placed into administration following action by the FCA in 2019. One such asset was a property formally “the gatehouse to Stoke Park, a former country mansion whichContinue reading “Lendy borrower faces £5m claim as she hunts missing ‘Mr Mohammad’”

Lendy Directions – The Background

Lendy Ltd was a so-called peer-to-peer lending company which facilitated the crowd funding of loans by members of the public secured against property and other assets.  The company collapsed in May 2019 following action taken by the Financial Conduct Authority and RSM Restructuring Advisory LLP were appointed as administrators. The Administrators filed an application forContinue reading “Lendy Directions – The Background”

‘No Entry’ – Open Justice at the RCJ

“It was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying ‘Beware of the Leopard.’” So reads the infamous line from The Hitchhiker’s Guide to the Galaxy to justify the assertion that the all-important plans had indeed been on public display.  IContinue reading “‘No Entry’ – Open Justice at the RCJ”

Lendy Ltd v Brooke & Others – The Case so-far

Lendy Ltd was a so-called peer-to-peer lending company which facilitated the crowd funding of loans by members of the public secured against property and other assets.  The company was placed into administration in May 2019 following action taken by the Financial Conduct Authority and Damian Webb, Phillip Rodney Sykes and Mark John Wilson of RSMContinue reading “Lendy Ltd v Brooke & Others – The Case so-far”

Court considers ‘pollution’ of a P2P loan agreement

Today’s hearing was an application by the Peer-to-Peer lending platform Open Access Finance Ltd (T/A Unbolted) for determination of a Preliminary Issue prior to trial.  The issue concerned the consequences resulting from the potential status of eight so-called corporate lenders who had participated (along with some 600 individual retail investors) in lending some £148k toContinue reading “Court considers ‘pollution’ of a P2P loan agreement”

DDJ Campbell dismisses claim against the Arriva bus company

This was an application by a Mr Veselin Ivanov against Arriva Kent Thameside Ltd for damages following a road traffic incident that occurred in Dartford, Kent in June 2018. The court was told that the incident took place at the end of a road known as Sharp Way when an Arriva bus, driven by MrContinue reading “DDJ Campbell dismisses claim against the Arriva bus company”

Man acquitted of Jodie Chesney murder: “I want to turn my life around”

Manuel Petrovic, 22, appeared remotely at the County Court in Romford seeking to set-aside a County Court Judgement (CCJ), originally issued because of an unpaid parking ticket.  The respondent to the application, ParkingEye, did not appear at the hearing and Mr Petrovic appeared unrepresented.

Duff & Phelps apply to correct Duff order in Mederco Cardiff case

In September 2016 the peer-to-peer lending company Lendy Ltd facilitated a loan to Mederco (Cardiff) Ltd.  Lendy were acting as agent for some 3600 retail investors who collectively financed a facility of £6.4m, secured by a First Charge against a site with the benefit of planning permission in Mynachdy, Cardiff.  The loan description on theContinue reading “Duff & Phelps apply to correct Duff order in Mederco Cardiff case”

Landlord who “knowingly committing criminal acts” faces bigger penalty at Tribunal

Court report: 03/02/2021 @ The Upper Tribunal Lands Chamber This was an appeal following the decision of Judge Nicholas Nicol at the First-Tier Tribunal Property Chamber made back in June 2020.  That hearing concerned an application made by four tenants of a property in Malden Crescent, London NW1, for the repayment of rent following allegedContinue reading “Landlord who “knowingly committing criminal acts” faces bigger penalty at Tribunal”

Nagging doubt at the Court of Protection

Court Report: 7th January 2021 @ The Court of Protection before DJ Beckley “Rest assured absolutely everything that could have been said on your behalf was” – I recall these words directed at a defendant by a Judge of the Crown Court whilst handing down a rather hefty sentence.  Indeed, both barristers had done aContinue reading “Nagging doubt at the Court of Protection”

Fundingsecure director Richard Luxmore created “false and fraudulent documentation so as to conceal” payments of £8.15m, court papers claim

Following lengthy correspondence, a cache of court documents was finally released in the matter of Fundingsecure Ltd v Mark Damian Clarkson, a claim currently progressing at the Business and Property Courts in Manchester.

Assetz lenders face joinder to borrowers claim

This hearing concerned an application, made by the peer-to-peer lender Assetz SME Capital Limited, to bankrupt two debtors. The court was told Mr Steven James Budd and Ms Jean Shrimpton had debt outstanding from a mortgage secured against a residential property. ICC Judge Barber explained that at a non-attended pre-trial review in April 2020 ICCContinue reading “Assetz lenders face joinder to borrowers claim”

Application by Lendy Ltd struck out as an abuse of process

This was an application by the borrowing companies’ director Des Philips to set aside a Statutory Demand served upon him by Lendy Ltd (In Administration).  The court was told loans advanced by Lendy Ltd had defaulted and they sought to rely upon the Personal Guarantee offered by the director to repay them.

150 Mederco investors stand to lose whole of investment

In April 2017 the so-called peer-to-peer lending company Lendy Ltd facilitated a loan to Mederco Block A Ltd. Lendy were acting as agent for some 3500 retail investors who collectively financed a facility of £5.2m, secured by a First Charge against a property in West Yorkshire. The loan description on the Lendy website describes theContinue reading “150 Mederco investors stand to lose whole of investment”

Directions for FundingSecure Limited – Part 1

Court Report: 16/10/2020 @ Manchester Civil Justice Centre This was a directions hearing concerning the matter of the so-called Peer-to-peer lending company FundingSecure Limited (in administration). FundingSecure acted as an agent in the facilitation of loans between borrowers and often many hundreds of retail investors. In October 2019 the company entered entered administration leaving someContinue reading “Directions for FundingSecure Limited – Part 1”

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