Thursday, 19 February 2009

Well done that man!

A Scottish pensioner is suing RBS for negligence in preparing the information which persuaded him to buy to buy £1.282 worth of RBS shares - which are now worth a paltry £120. He claims that had they told him they were insolvent at the time, he wouldn't have bought them.

As befits an experienced lawyer, and one who has tilted at windmills before - for it was he who stole the Stone of Destiny, symbol of Scottish independence,  from Westminster Abbey, Ian Hamilton is asking for the case to be heard in his local small claims court - where he risks only £150; RBS is arguing that the case is so complicated that it must be heard in a higher court, thus putting him at risk of horrendous costs if he loses the case.

This won't just be about compensation for the loss of a relatively puny amount - this will be about access to justice; the amount he is claiming is entitled to be heard in the small claims court, if RBS force the case into a higher court and he is unable to afford the potential losses then access to justice will have been denied simply by the defendants complicating their defence. 

When  a terror suspect who is going to be deported and has been living on tax payers money to the tune of £50,000 a year for the past eight years, can get legal aid to fight his deportation and take a human rights case to the European Court of Justice, but a pensioner cannot afford redress when a bank costs him his savings then we know that there is no justice for the 'little people'.

Support Ian Hamilton - keep an eye on this case. The Sheriff has adjourned the case for a week to give himself more 'time to think' - the outcome will be important for all of us. 


13 comments:

The Penguin said...

Good spot and well argued.

The Penguin

bofl said...

there isnt any justice in the uk.only law.

I have had 1st hand experience of this.In the 80s my flat was re-possessed because i lost my job.

12 years or so later the abbey national demanded £17,000 from me!

Eventually they did agree that they had sold my property way below the market value.....i worked it out that they owed me £14,000!!!!!!

However my solicitor informed me that it would cost me £30,000 to take them to court!!!!

So much for harriet harmans land of equals!+++++++++

more recently after getting myself out of the shit i moved home.....

British Gas sent me a bill for £500 over my usual amount......they threatened me , their solicitors too-then a collection agency........
about a dozen threats........

they told me to read the meter.er i had moved you cunts!

eventually they realised that THEY had made a mistake.the reading was wrong! But- here is the shitty part- i cannot get redress from them......i cannot sue them.
by law!!!!!

now they are doing the same thing with m electric bill..........threats etc.....and apparently it seems i can make a counter claim.........but first they have to take me to court......

a collection agency has even declared that they will send someone to my address to discuss it!

I am going to ask them for their bosses address and see if he wants a visit from me?

++++++++++++++++++
this cuntry (sic) is a shitehole and we really do need some massive change -quickly- as we are being attacked on all sides.

Anonymous said...

If RBS want the case to be heard in a higher court, then they should be told that they will be liable for any fees on both sides over and above those charged by the Small Claims Court.

They want it, they can pay for it.

Old Holborn said...

Hold on a minute

A bloke at the Derby said I was on to a dead cert in the 3.15, yet the fucker was pedigree chum by 3.18

Who can I sue?

bofl said...

the tipster i guess.....

the derby isnt run at 3.15 any more...

i think it's 4pm....saturday now

bofl said...

on a more serious note....

all of the banks have been lying about their financial position......aided and abbetted by auditors who looked the other way....

being publicly quoted companies they were in serious breach of stock exchange rules........

instead of giving them bonuses they should be facing trial!

Anna Raccoon said...

all of the banks have been lying about their financial position......aided and abbetted by auditors who looked the other way....
************************************

Probably why they didn't take the easy way out and settle out of court - they would disappear under the weight of similar writs the next monring.

bofl said...

the trouble is that nobody seems to understand just what has been going on.....bradford and bingley were being courted by 2 buyers.yet they refused to let them see the books!!!!!

what a give away!

the auditors and ratings agencies have a vested interest NOT to find any problems....why bite the hand that feeds?

and the fsa is just rubbish!
a long time back it was the sfa!
it was still rubbish.......
ask anyone in the City about the fsa and they will laugh.....

All Seeing Eye said...

o/t..........itv text is reporting a demonstration of 150 people outside drowning strasse..........

maybe the worms are turning?

Anonymous said...

This sucker could've just as easily shorted the stock, like me and many others, and made a tidy profit.

His blubbering that nobody told him which direction to bet on will be seen by the court for what it is - pure BS.

Anonymous said...

Surely advising anyone to buy stock in a company that you know is insolvent involves fraud of some sort?

Gareth said...

I expect that if you read the rights issue prospectus closely it will be riven with all kinds of disclaimers.


The banks pay the FSA to regulate them.
The banks pay the auditors to audit them.
The banks pay the credit ratings agencies to rate them and their packets of toxic debts.
The banks pay the Government large amounts of tax.
The banks lent out large amounts of money to lots and lots of people who spent it, which got the Government large amounts of tax and goodwill.
Bankers move in and out of the FSA with ease.
Bankers move in and out of Government with ease.

No one important was ever going to ask questions!

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