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Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.
Did they believe they were owners or just used the documents to get the loan please?
At the time - they were in the process of buying the business / company. We think they used our companies (what they were buying) accounts to get the loan. I do not think Barclay's made such a huge mistake in writing and asking the Directors of the company to sign for the loan. After that we - a day later - received an email from them to say it was in their own names against their properties - but where would all the company details have come from on the offer letters from the bank if they had not used anything about the company?
But they had not actually bought the business at that stage?
no - they had not bought the business and did not continue with the sale, but they did start up their own business - same as ours - shortly after
I see. If they did not own the Company and used that information to make a gain for themself and a loss to another (the loan) and used information which was not true then YES this could be fraud by false representation
If the bank say, we never would have given the loan knowing the true position, then this is fraud.
Please see: http://www.legislation.gov.uk/ukpga/2006/35/section/2
Can I clarify anything for you about this today please?
How would I be able to find out if they took out the loan?
You won't be able to as this would be protected under the Data Protection Act
You can ask the bank as Company owners but they may not tell you.
So there is no way of knowing if the loan was taken out using our accounts
You can ask the bank on that basis and they should tell you.
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