TESS wins a further 62 Claims in the UK against Credit supplying Banks in the UK
To round off 2018, TESS learned this week, it has won a further 62 Timeshare related cases in the UK Courts.
Feeling disappointed with the Financial Ombudsman Service and the delays many others are experiencing, TESS elected to switch track from the non-contentious route to issuing and bringing claims through UK County Court system.
In a wide ranging ‘snow storm’ of 420 claims TESS’s Clients targeted against lending Banks on account of Section 75 of the Consumer Credit Act 1974 and 2006. The claims delivered range is for sums south of £25,000 and north of £500.00.
In Spain other large and small amounts are being enforced and after careful risk assessment – so as to un-frustrate our clients right to be paid, on account of the judgements they have obtained.
TESS’s efforts have proved very successful in that over 140 UK cases this year, all having been settled by financial institutions. A further 78 Spanish case has been won in the last year, some claims being paid out whilst others are either appealed or subject to enforcement proceedings.
This week we learned that a small ‘similar fact evidence’ claim has been conceded by the Defendant Bank and 62 litigants are now in the process of recovering the damages claimed. In this matter the present collective offers of settlement are north of £650,000 however, the counter proposals are still being negotiated which should (if the same principled threads are utilised) bring a further £150,000.00.
Of course, the position is the Banks do have a subrogated claim against the merchants who wrongly sold the Products our clients bought.
The simple position used is that the 1st and principle contract our consumer entered into was that of the ‘finances contract’ not the purchase of the timeshare. This must be true as our consumers could not have bought the timeshare without credit being in place.
With a strong legal team, consisting of Litigation Funders, Legal Researchers, Paralegals Claim Managers and Solicitors, TESS is pushing the boundaries in this bespoke Compensation sector.
In this year alone, TESS has secured millions in damages and are presently concluding work on 3 large ‘similia fact evidence’ cases, which will be issued in the new year involving over £6 million in damages.
In the 140 cases reported, all clients have been paid the damages won.
As we are in the winter holiday season the offices of TESS will be closed from 1.00pm today until the 2nd of January 2019.
Posted on: 21st December 2018