Following a settlement in their case against The Royal Bank of Scotland (RBS), Plymouth business owners Michael and Diane Hockin spoke exclusively to Radio 5 Live about their battle against the bank and it’s Global Restructuring Group.
The case reached a settlement after just two full days of a scheduled five week trial and in doing so marked the end of a four year legal battle for the couple.
In conversation with BBC Radio 5 Live’s Sean Farrington the couple gave the background to the case which started with a battle against the bank’s administrator Ernst & Young back in March 2014 to have the legal action assigned to the Hockins and continued with two applications from the bank to have the claim struck out.
Speaking about the outcome Michael Hockin said
“I don’t feel that justice has been done, it’s not just us, it’s hundreds of small businesses who have been completely stuffed by this crowd and we weren’t able to completely expose them because it would’ve put us in jeopardy”
The Hockins were represented by independent law firm berg. Chief Executive Alison Loveday said:
“ I would very much hope that this settlement will demonstrate to other claimants that it is possible to secure a successful outcome, ultimately they have to have the resolve and be fully prepared to go to trial but I think if a case is well prepared and has the right team on the job it is possible to resolve these disputes with the bank, no matter how entrenched everybody’s position may seem to be”
Listen again to the Hockins interview here on Radio 5 Live
This interview also appeared on BBC Radio 4’s The Today Programme.
To find out more about the issues raised in this post or to discuss any queries regarding RBS’ Global Restructuring Group or banking disputes in general get in touch with our expert banking team email@example.com or call +44 (0) 161 829 2599.
The information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by berg or any of its partners or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.