Cabot Financial UK Ltd

[mystery1]

Re: Cabot Financial UK Ltd

From M Renner - Thomas
Authorisations/Licensing
FCA,

Received 5 minitues ago

I Confirm the following are authorised to carryout Authorised Consumer Credit Activities
Cabot Financial Europe Ltd
Cabot ( Marlin) Ltd.

Cabot Financial Uk Ltd TP's lapsed and is no longer authorised.

***The FCA Cannot comment on the ability of Cabot Financial UK Ltd to issue claims in County Courts of England & Wales.**** Seek Legal Advice.****

I have already seen amended claim forms replacing CF UK Ltd. with CF Europe.

nem

Really ?

More chance of convincing a court they are licensed than convincing them that although they are not the owners the claim should stand.

M1

[pt2537]

Re: Cabot Financial UK Ltd

Hello PT no problem!!
I've seen exactly this scenario before some years ago where a similar reorganisation in a group of companies
caused some claims issued to have name of claimant amended but it took some time for this to happen and
as far as I can remember no claims were discontinued or withdrawn.
The amendment process is underway on the Cabot claims, what I can't tie down is the actual date of the lapse.

The register was supposed to be updated by 2nd week of this month, but it's not happened some other data
is outdated as well.

Nem

Thing is though, they cant simply substitute, that wouldnt get them home because there is still illegallity and they cannot get away from that.

[mystery1]

Re: Cabot Financial UK Ltd

exactly Nem, sorry if my post caused any offence, the bolllocks comment wasnt meant at you merely at the fact that this point keeps being raised and cabot seem to keep slipping the noose.

Whilst you're here, if they issued before the lapse can they continue afterwards if judgement has not been handed down or trial not heard but the license has lapsed in the mean time ?

M1

[nemesis45]

Re: Cabot Financial UK Ltd

Really ?

More chance of convincing a court they are licensed than convincing them that although they are not the owners the claim should stand.

M1

Yes really!
The claims issued with the CF UK Ltd as Claimant are being amended, how long ago the TP's lapsed I cannot track down yet.
Ms Jenner Thomas has said no more.
nem

[mystery1]

Re: Cabot Financial UK Ltd

Yes really!
The claims issued with the CF UK Ltd as Claimant are being amended, how long ago the TP's lapsed I cannot track down yet.
Ms Jenner Thomas has said no more.
nem

They can amend all they want. CF Europe have no standing. They're totally fecked. Game over. Finito. Auf wiedersehen. Adios. Ciao.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

Thing is though, they cant simply substitute, that wouldnt get them home because there is still illegallity and they cannot get away from that.

It seems to be happening though, the FCA seems little bothered about any illegality PT.
I guess until it can be established when the " debts owned" by CF UK were transferred
to CF Europe and CF Marlin.
I'm still digging though!

nem

nem

[mystery1]

Re: Cabot Financial UK Ltd

It seems to be happening though, the FCA seems little bothered about any illegality PT.
I guess until it can be established when the " debts owned" by CF UK were transferred
to CF Europe and CF Marlin.
I'm still digging though!

nem

nem

82A Assignment of rights


(1)Where rights of a creditor under a regulated consumer credit agreement are assigned to a third party, the assignee must arrange for notice of the assignment to be given to the debtor—
(a)as soon as reasonably possible, or
(b)if, after the assignment, the arrangements for servicing the credit under the agreement do not change as far as the debtor is concerned, on or before the first occasion that they do.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

[QUOTE=mystery1;585757]82A Assignment of rights


(1)Where rights of a creditor under a regulated consumer credit agreement are assigned to a third party, the assignee must arrange for notice of the assignment to be given to the debtor—
(a)as soon as reasonably possible, or
(b)if, after the assignment, the arrangements for servicing the credit under the agreement do not change as far as the debtor is concerned, on or before the first occasion that they do.

M1[/QUOTE

Defendants are receiving notices of change of claimant.
These debts are the assets of a Group of Companies i.e.
Cabot not " third party " is involved as far as I can see,

nem

[mystery1]

Re: Cabot Financial UK Ltd

[QUOTE=nemesis45;585764]

82A Assignment of rights


(1)Where rights of a creditor under a regulated consumer credit agreement are assigned to a third party, the assignee must arrange for notice of the assignment to be given to the debtor—
(a)as soon as reasonably possible, or
(b)if, after the assignment, the arrangements for servicing the credit under the agreement do not change as far as the debtor is concerned, on or before the first occasion that they do.

M1[/QUOTE

Defendants are receiving notices of change of claimant.
These debts are the assets of a Group of Companies i.e.
Cabot not " third party " is involved as far as I can see,

nem

Companies is plural. Only one owns the debt. CF UK. CF UK are unlicensed. Changing the claimant to CF Europe is as much use as changing it to M1 Ltd. Only the legal owner can go to court. Not their Mum, Dad, Granny, Granda, Cousin, child, brother or sister.

M1

[mystery1]

Re: Cabot Financial UK Ltd

Whilst you're here, if they issued before the lapse can they continue afterwards if judgement has not been handed down or trial not heard but the license has lapsed in the mean time ?

M1

Actually now i think about it, does McGuffick help us ? Starting a claim isn't enforcement ?

Mmm...

M1

[nemesis45]

Re: Cabot Financial UK Ltd

[QUOTE=mystery1;585768]

Companies is plural. Only one owns the debt. CF UK. CF UK are unlicensed. Changing the claimant to CF Europe is as much use as changing it to M1 Ltd. Only the legal owner can go to court. Not their Mum, Dad, Granny, Granda, Cousin, child, brother or sister.

M1

Do you know Cabot's internal functions? I certainly don't!.
All supposition at the moment I'll stay out of arguments
all I'll do is say I've seen it all before.

nem

[FlamingParrot]

Re: Cabot Financial UK Ltd

Actually now i think about it, does McGuffick help us ? Starting a claim isn't enforcement ?

Indeed it isn't, however:

1. If they issue a claim against a defendant who ignores it and fails to acknowledge it, would they refrain from requesting default judgment? Otherwise obtaining judgment would be enforcement;
2. If the defendant files an admission form, wouldn't they request judgment by admission? If so, enforcement;
3. If they are issuing claims without any intention of carrying them through, wouldn't that constitute abuse of process? :noidea: :confused2:

[mystery1]

Re: Cabot Financial UK Ltd

[QUOTE=nemesis45;585775]

Do you know Cabot's internal functions? I certainly don't!.
All supposition at the moment I'll stay out of arguments
all I'll do is say I've seen it all before.

nem

If they've done nothing wrong they won't have a problem.

One question though, why are they amending claims if there isn't a problem ?

Because they have a problem.

M1

[Berniethebolt]

Re: Cabot Financial UK Ltd

This must be costing them an absolute fortune, who says clouds don't have silver linings

It seems that they must issue a NOA before going for a judgement. There must now be sending out NOA's by the thousand because if they don't I can see a year or so down the line they will be issuing claims without that needed NOA

[nemesis45]

Re: Cabot Financial UK Ltd

[QUOTE=mystery1;585798]

If they've done nothing wrong they won't have a problem.

One question though, why are they amending claims if there isn't a problem ?

Because they have a problem.

M1

Good morning M1,

My " guess " at moment is that the "new" Cabot group the two main firms Cabot Europe Ltd & Cabot ( Marlin) have adsorb the
business of Cabot UK Ltd., similar things happened years ago with I think Lowell Financial, Lowell Portfolio, Lowell Portfolio1/2.
As said the FCA does not appear to be concerned about the Cabot scenario.

nem