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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30620
Experience:  Over 5 years in practice
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Hi my question is related to an issue with a bank and would

Customer Question

Hi my question is related to an issue with a bank and would be covered under Northern Ireland law.

I had a Business which mainly had local government contracts, all measured term.
with the bank in question I had an overdraft facility, and a factoring agreement to fund the business which and a turnover of approx £1.2 million Stg.

In early 2005 the bank withdrew all facilities without any prior warning leading to the immediate and devastating collapse of my business with the loss of 35 jobs, my ultimate bankruptcy and loss of my home

I 2012 I requested all information under a data access report and was shocked at what I uncovered, I believe that the documentation clearly shows breaches of contract, with regards XXXXX XXXXX operation of the factoring agreement, funding been withheld, clauses within the factoring agreement referenced to but not actually existing within the contract. and various other inconsistencies relating to the banks response to my complaint to the FSA

Obviously having been declared bankrupt and now working in a job that covers the basics of life, rent, food etc, i would need advice as to how to proceed.

All the allegations I have regards XXXXX XXXXX of the bank are documented within the bundle I received from the bank, which includes internal bank memos, and handwritten documents all of which have been redacted.

Your help, advice and assistance would be greatly appreciated
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.

Thank you for your question and welcome.

My name is AJ and I will assist you.

Is the bank still trading?

Is any of the behaviour fraudulent?

Kind regards

Customer: replied 2 years ago.

Hi AJ,


Yes the bank is still trading but has like so many others been taken over and yes some of the issues would be considered as fraudulent, such as withholding approved funds, which I have documented evidence of.


Giving inaccurate and misleading information to the FSA which I have documented also.


The grounds on which the funding was withdrawn was based on my being insolvent, this to me is very much in question as I had no major borrowings, my contracts were solid gold government, I had assets of 85k ( being withheld by factors) and a house valued at 500k with a 6k mortgage.


The bank actually approved 65k as a loan in Dec 04 and allowed me to draw it down, also the accountants that I had retained to monitor the factoring arrangement on the instance of the bank showed the business making a return to profits at 31/05/05 to the sum of £143k with all liabilities up to date


the factoring agreement within the prelims makes reference to a clause regarding the withdrawal of funding which within the contract actually doesn't exist would that not in essence spoil the contract?


Also as my factoring agreement was a confidential agreement, the contacting of my debtors prior to their being any issues raised regards the operation of the factoring agreement, which I have documentary evidence of, would also be considered a breach of the contract?


I need to know if I have a case, how to attain funding to process a case.

To do that I need to also be able to produce an effective grounding affidavit, as I feel the only way I can get the appropriate recourse is through a litigation funder, I am seeking substantial redress, running into a substantial sum your advice and assistance would be greatly appreciated


Kind regards



Expert:  Alex J. replied 2 years ago.

Thank you.

I will review this today and revert to you as soon as possible.

Kind regards


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