Andrew Hadley at RGL’s sueClydesdale Conference Birmingham 2017/12
“I come from Norwich in Norfolk. My two partners and I have a company called Ham Properties Limited. We were introduced to Clydesdale Bank back in 2007 to start buying investment properties in Norwich.
We built up a portfolio but were switched into a tailored business loan. When we tried to come out of it due to the usurious interest rates, we were quoted a figure that would have bankrupted us to have paid it. We were given 12 months to pay and sell all the properties, having to sell them at a loss so that we could clear our indebtedness to avoid personal bankruptcy.
My two partners and I have all had health issues as a consequence due to the stress that it caused. One of my partners has had to leave work early. I had retired and ended up having to go back to work because we lost so much money from it as a consequence. It’s fair to say that for all three of us it has been life shortening and life changing.
Anger I think is the question that is still there. The people responsible for it have got away and rather like GRG they are just trying to cloak over it as if it never happened. But you have two choices. You either give in or move on with your life and I like to think we have all moved on with our lives.
I saw RGL in the newspapers a few weeks ago. I contacted them through their website and ended up speaking to Neil and filled out the relevant forms. We were impressed by the quality of the people they had working alongside them and the evident investment they had made which made us decide they were worthy partners for us to seek redress.”
Giulio Girasoli at RGL’s sueClydesdale Glasgow Event
“The clients were getting moved to the National Bank of Australia, which I thought was OK but then they told me that my tailored business loans would have to be paid back within a period of a year.
I think there was about £860,000 I had to find within the year plus there was an early repayment penalty of £40,000 which was having to be repaid as well. It put a lot of pressure on me and my business. Luckily enough I had assets in Italy that I was able to sell at a loss to fund repaying Clydesdale Bank back.
I was treated terribly. I was a good loyal customer for 15 years and had always paid all my commitments off. I thought I had a loyal history with the Clydesdale bank – I couldn’t understand what the need was to change customers from the Clydesdale Bank to the Bank of Australia. I eventually found out that the National Bank of Australia was heading off into the sunset and were trying to close the books on the Clydesdale Bank’s commercial lending side.
I suffered greatly, emotionally and stress wise. It took quite a bit of a toll on my health. I had a lot of sleepless nights and real stress-related problems. I’ve come out the other side but there’s a lot of people in Scotland who had the same problems and I think it’s terrible that the politicians didn’t do more and it’s scandalous.
Some of these tailored business loans, I mean if I had sold them in the street I would have been done for fraud. I don’t think any of us were aware of the small print and it’s been proven that greater minds than myself couldn’t work out that they were actually derivatives and not business tailored loans. I’ve been hoodwinked into thinking was an extension of my overdraft facility.
It’s been very informative. I’m glad people have been getting together and putting a bigger front on it. It’s long overdue for Clydesdale Bank to be exposed for what they have done to people. It’s been, ordinary people. It’s not been multi-millionaires. It’s been people who have worked hard all their days to accumulate wealth and have been treated very badly.
I put my trust in the ombudsman which was a total disaster. The lady in the ombudsman office second guessed what I would have done and I thought it was criminal the reply I got from her. I feel these people now are in the pocket of the banks and it’s a disgrace that these people haven’t been brought to the courts.”
Thomas McCafferty at RGL’s sueClydesdale Conference 2017/12
“My company was Cedars Property, which went into administration in 2009 – taken by the Clydesdale Bank.
It was something I never agreed to. It was refunded through the FCA inquiry for a hedge product which paid the company back over £400,000 pounds with no compensation or recourse for the directors. Bankruptcy, loss of the family home, four children dispersed across the globe and really no opportunities to gain credit facilities to rebuild our businesses.
It’s very disruptive, it could put enormous challenges on your marriage and on your family life. It’s very very painful, especially when you know you’ve built up a business which is your pension fund which is a well funded and well-traded business – but they take it from you.
It’s the David and Goliath situation, where the banks are still hiding behind their nice white shiny towers. In effect, there is a very evil undercurrent which really is systemic in the banking industry.
I think the fact that there is a legal team there and the fact that there is a hunger and a desire, but also the fact that I know our claim is very valid and we should hopefully beat them.”
Gordon Neave at RGL’s sueClydesdale Glasgow Event
“Since the meeting in Birmingham, we’ve been evicted from our office. Selectively evicted and in so far as the people who were sharing the office, one of their clients has done a behind the scenes deal with the lawyer. They’re remaining in the premises while I’m evicted even though they were on the eviction notice.
I’ve currently got a complaint into the Scottish Legal Complaints division about the conduct of the Addleshaw Goddard solicitor, Alan Sinclair. I first lodged the complaint with the SLCC in 2016 and that was turned down as being time-barred. When I made a further complaint in 2017 the SLCC came back and said it was premature.
I’ve taken up the issue with them and I think there’s a hearing on the 20th of April in the Court of Session. I think that it shows the progress is being made. It was a more informal meeting than in Birmingham but both have been very helpful.”