TOM BRENNAN V NatWest

[lioness]

For anyone who hasn't stumbled across this case before - could that be possible lol? - this is a case being brought against Nat West by a newly qualified barrister in respect of charges he incurred whilst he was a student.

Tom is claiming that the penalties amount to a tort, which if the judge agrees, will enable Tom to pursue a claim for exemplary (punitive) damages. These damages are intended to punish the bank for acting unlawfully to make a profit and can be used to remove the profit from the bank.

Tom's first court hearing on 13/4/07 was adjourned because not enough time had been allocated for it.

His second hearing went ahead on 30/4/07 but more time was needed to hear both sides.

So here he is today, back in court. GOOD LUCK TOM!!!!!!

The hearing is NOT a full hearing of the case. It is to determine whether the judge agrees that Tom has a case because Nat West has already forced a refund of the charges into his account before closing it. Tom has stated on his website that he expects the judge to hand down a reserved judgement today, which means that the outcome is not likely to be known for several days, but hopefully later this week - depending upon the court's diary.

Interestingly, in light of the judge's findings in the recent case lost by Kevin Berwick against Lloyds, NatWest is arguing that the case involves a breach of contract! They are doing this because exemplary damages are not recoverable in contract.

This link will take you to an article in today's FT about this case FT.com / World - Legal ruling fails to end court battles over bank charges

[lioness]

I'm getting reports in that the case has been adjourned to Tuesday, that could be tomorrow, but then again I could be reading an old BBC report so I'll have to go back and check it out for sure, for all you lot out there hanging on my every word LOL.

[lioness]

yep I'm 99.999% sure its tomorrow and that is the latest update from the lioness news 24 desk

[willowb]

I'm hanging!!!:rolleyes:

This will be very interesting indeed, although I only understand half of it

They are doing this because exemplary damages are not recoverable in contract.

Eh?
I know what 'tort' means but what does it mean in this context....sorry for being a complete idiot:rolleyes:

Wxxx

[lioness]

I will try and find a proper explanation for you but it means that these type of damages are not recoverable in an action brought for breach of contract.

[lioness]

see if this helps

tort:

A legal wrong arising from a duty fixed by law. Breach of this duty causing injury to persons or property is repressible by legal action for damages. Liability for tort involves private or civil wrong or injury and is distinct from that under contract in that the duty is owed to people, generally, rather than to a specified individual.

[willowb]

oh ok lmao

I shall try and digest that a little later on.....maybe a glass of wine will help me?

Which reminds me of a card my hubby sent me recently.......



LOL

wxxx

[Simian]

My meagre understanding of this is that, as a tort, then the bank has to not only redress the situation by paying contractual interest, but has to go one step further by paying further damages in addition to this, as a punitive measure for acting unlawfully.

In effect, it not only has to put matters right, but it has to say "We're sorry" - very,very nicely, as well.

"...the duty is owed to people, generally, rather than to a specified individual. " - To me this is the "community" nature of punishment. It is imposed to set an example (as in exemplary) to others, and thus to deter them in future.

That's my take on it. Any use ?

[lioness]

lol!

he is right of course, because the bank hasnt breached the contract.

but maybe you do need that glass of wine otherwise I'll be left here talking to myself no doubt..

edit - sorry Sim, that lol was to willow not you..
2nd edit - and when I said he I meant Tom not you Sim, but you are right aswell, ofcourse, as always (creep creep)

[Simian]

Which reminds me of a card my hubby sent me recently.......

Judging by your Friday night posts, mate, that lie is a whopper !!!!

[Simian]

Blimey - this is turning into a verbal punch-up already. Accusation & credit being thrown everywhere !!

Well - thanks for the nice stuff, whichever it was, Lioness !!

[lioness]

The hearing has now ended but we're gonna have to wait for the verdict BBC NEWS | Business | Bank charge case ends for verdict

[iancognito]

oooooooohhh, suspense, what do you reckon guys, I can't say I'm all that hopeful, not coz I think he's wrong, or coz I think they're right but there's just too much money and power involved here.

[lioness]

If the judges reported comments from yesterday are anything to go by, I think we are in for a disappointment.

But everything crossed heh?

[Paradox]

If the judges reported comments from yesterday are anything to go by, I think we are in for a disappointment.

But everything crossed heh?

Yes indeed, but as Ian says, they'll end up throwing millions upon millions at it if they need to, and the ordinary folks of this world just can't do that.. Sadly.

Matt