Cabot Financial (uk) limited - Unlicensed trading?

[FlamingParrot]

Re: Cabot Financial (uk) limited - Unlicensed trading?

@FlamingParrot

It was more likely to be issued under the CORRECT company name. If it was issued under a version of Cabot that doesn't own it that would also be a big problem as they would have no standing to make a claim.

I meant the UNAUTHORISED one.

[mystery1]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Looking at your claim, it would appear it was issued under the wrong company name: Cabot Financial (UK) Limited, who no longer have a consumer credit license. http://www.legalbeagles.info/forums/...537#post581522

Oooopsie! :grin:

@FlamingParrot

It was more likely to be issued under the CORRECT company name. If it was issued under a version of Cabot that doesn't own it that would also be a big problem as they would have no standing to make a claim.

One would need to check the notice of assignment or other recent letters to check.



M1

[mystery1]

Re: Cabot Financial (uk) limited - Unlicensed trading?

No. But how will the court/judge know if you don't tell them ?

See also #14 & 15 above

M1

[Endlessnine3]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Looking at another thread they are issuing claims under Cabot financial uk
is that legal ??

[mystery1]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Lawyers are under a duty to know their client"!!!! so they should carry out due diligence

Cpr 81.17 if I recall correctly.

M1

[Nibbler]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Lawyers are under a duty to know their client"!!!! so they should carry out due diligence

'Due diligence' is not one of the defining qualities for most law firms acting for creditors in consumer credit litigation, as far as I have ever seen.

[pt2537]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Yep, just dragged this out of a saved random bunch of stuff.

[ATTACH=CONFIG]20019[/ATTACH]

July, where UK (Ltd) are listed as legal owners, despite the CCA lapse in Feb

Wonder if the Lawyers know they are acting in the name of an unauthorised company?

Lawyers are under a duty to know their client"!!!! so they should carry out due diligence

[Nibbler]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Sure I've seen ones with the other authorised ones as claimant/owner as well, so either they too dim/confused by their own changes to work out correctly which name to write letters and bring action under in some cases, or they are really taking the P with the regulators and authorisation by not reassigning to their authorised LTDs.

[pt2537]

Re: Cabot Financial (uk) limited - Unlicensed trading?

So ... if they're bringing claims to court using Cabot Financial (UK) Ltd they're breaking the law?

If they arent authorised then yes

[Kati]

Re: Cabot Financial (uk) limited - Unlicensed trading?

So ... if they're bringing claims to court using Cabot Financial (UK) Ltd they're breaking the law?

[Nibbler]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Yep, just dragged this out of a saved random bunch of stuff.

2a4c0001.jpg

July, where UK (Ltd) are listed as legal owners, despite the CCA lapse in Feb

Wonder if the Lawyers know they are acting in the name of an unauthorised company?

[pt2537]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Yep, don't disagree. Just lost track a bit of where Cabot's assignments are legally held now, under one of the regulated authorised LTD co's, or one of the umbrella/holding ones, given the musical companies game they have been playing this year.

it has to be under the (UK) Ltd co otherwise no standing to bring a claim

[Nibbler]

Re: Cabot Financial (uk) limited - Unlicensed trading?

Hicks v Walker & Reynolds, cant be done, you cannot use a licensed agent to get round the rules

Yep, don't disagree. Just lost track a bit of where Cabot's assignments are legally held now, under one of the regulated authorised LTD co's, or one of the umbrella/holding ones, given the musical companies game they have been playing this year.

[pt2537]

Re: Cabot Financial (uk) limited - Unlicensed trading?

They now seem to have switched to trading under Cabot Financial (Europe) Limited and Cabot Financial (Marlin) Limited, both of which are currently authorised.

If they are still using the old names in correspondence then that is obviously wrong, but perhaps an admin mistake?

https://register.fca.org.uk/shpo_sea...abot+financial

http://www.cabotfinancial.co.uk/

Hicks v Walker & Reynolds, cant be done, you cannot use a licensed agent to get round the rules

- - - Updated - - -

As i understand it, it already has. Paul mentioned it and i saw it elsewhere too although i've not seen a concrete explanation or forum thread.

If there is a precedent on this i'll be amazed as that'd mean someone needs to appeal and that's unlikely. If Cabot lost in the lower court they'd be mental to risk an appeal court verdict and the little guy doesn't go to an appeal court that often. Never say never of course.

The 1st question i'd be asking on a Cabot thread is, Which Cabot ?

M1

and guess who's appealing

[mystery1]

Re: Cabot Financial (uk) limited - Unlicensed trading?

As i understand it, it already has. Paul mentioned it and i saw it elsewhere too although i've not seen a concrete explanation or forum thread.

If there is a precedent on this i'll be amazed as that'd mean someone needs to appeal and that's unlikely. If Cabot lost in the lower court they'd be mental to risk an appeal court verdict and the little guy doesn't go to an appeal court that often. Never say never of course.

The 1st question i'd be asking on a Cabot thread is, Which Cabot ?

M1