On Wednesday 16th of April on BBC Radio 4, John Waite looked into why dozens of farmers across the UK say they face ruin after borrowing money from a Somerset based finance company, Acorn Finance.
Acorn Finance labelled themselves as ‘Prosperity in adverse circumstances’
and targeted farmers who had been shunned by regular banks. Acorn Finance seemingly takes no responsibility for any of the damage caused, saying it was ‘up to the borrowers to find their own legal advice and to come up with their own payment methods.’
But the issue of when and where to get appropriate legal advice has proved to be a particular problem for thousands facing claims against banks and other financial institutions. Many businesses have been given little clarification on the need to seek legal
advice or have even been actively discouraged from engaging the appropriate legal representation.
The high-interest loans came with the promise that cheaper finance would follow. But when that promise failed to materialise, farmers were left with a spiraling debt that could never be repaid. Many have seen their land repossessed and sold off at auction.
Some have been left homeless.
Radio 4’s Face the Facts programme reveals more about the man behind the company, how he has a history of failed businesses, running up large debts and personal bankruptcy. In 2010 he managed to form a partnership with a £20 million investment scheme backed
by some of Britain’s biggest pension funds such as Scottish Widows and Clerical Medical.
At Berg, we have are currently helping a client who is affected by this situation, and we believe we can help more. We have seen that farmers have been left deep in debt and some even homeless after dealing with Acorn Finance. We endeavour to help people affected
and have specialists on our team to help you through the legal process. Please return to our
News page frequently as we will keep you updated on this situation.
Get in touch
For more information about issues relating to Acorn Finance or for practical commercial advice on this or any other aspect of banking and interest rate swaps mis-selling, please contact
Alison Loveday by telephone; 0161 829 2599 or email