Templars Estates Ltd and others v National Westminster Bank Plc and Royal Bank of Scotland, 2016
The High Court was asked to decide whether proceedings should be stayed whilst the Financial Ombudsman Service (FOS) investigated Templar’s complaints.
Background
Allegations were raised by Templar that Natwest had been negligent in the advice they had given. The dispute had in fact been an on-going matter for a considerable period of time to the point that stand-still agreements had been entered into in order to give parties breathing space to investigate claims, resolve matters and avoid litigation.
Despite the matter dragging on for a number of years, a resolution was not reached and a standstill agreement was subsequently not extended. Therefore, in order to avoid the matter being statute-barred and to protect their position, Templar issued proceedings.
Templar thought it best that the matter be referred to the FOS for their decision as it would be more cost-effective than taking the matter to the High Court; they asked that Natwest to agree to a stay in the court proceedings, whilst the FOS investigated.
Click here for more details..
Contact Details..
Nath Solicitors Limited
4/4a Bloomsbury Square,
London, WC1A 2RP
Tel: 02036705540
Email: shubha@nathsolicitors.co.uk
Web: http://www.nathsolicitors.co.uk/
The High Court was asked to decide whether proceedings should be stayed whilst the Financial Ombudsman Service (FOS) investigated Templar’s complaints.
Background
Allegations were raised by Templar that Natwest had been negligent in the advice they had given. The dispute had in fact been an on-going matter for a considerable period of time to the point that stand-still agreements had been entered into in order to give parties breathing space to investigate claims, resolve matters and avoid litigation.
Despite the matter dragging on for a number of years, a resolution was not reached and a standstill agreement was subsequently not extended. Therefore, in order to avoid the matter being statute-barred and to protect their position, Templar issued proceedings.
Templar thought it best that the matter be referred to the FOS for their decision as it would be more cost-effective than taking the matter to the High Court; they asked that Natwest to agree to a stay in the court proceedings, whilst the FOS investigated.
Click here for more details..
Contact Details..
Nath Solicitors Limited
4/4a Bloomsbury Square,
London, WC1A 2RP
Tel: 02036705540
Email: shubha@nathsolicitors.co.uk
Web: http://www.nathsolicitors.co.uk/
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