Berg have been speaking to The Times, over banks ‘offsetting compensation by hitting SMEs’ as we share a preview of our latest report.
Here at Berg we represent hundreds of clients who have been impacted by banking disputes, and tomorrow will be publishing our Banking Report – SME Banking: Towards A New Dystopia.
Times Enterprise Editor James Hurley commented “This report echoes concerns raised by a rate swaps victims’ group, which is arguing that the FCA’s scheme has provided too little compensation and has been unduly influenced by lenders. The FCA believes that the
scheme, which has resulted in 7,000 businesses being offered a combined £1.1 billion, is fair because it includes oversight from independent reviewers.
The report, which includes evidence submitted to the FCA and a Treasury select committee inquiry, highlights other remaining issues with banks’ treatment of small companies, including fresh concerns over the conduct of lenders’ restructuring divisions.”
Berg has a long standing history of acting for SME’s, including complex financial and commercial litigation. The mistreatment of small businesses by lenders reached far beyond mis-sold interest rate swaps and extended to property, loans, pensions and personal
You can also view the whole of the Times Article
‘Banks ‘offsetting compensation by hitting SMEs.’
For more information about any of the above or for practical advice on this or any other aspect of banking and financial disputes, please contact
Alison Loveday of the Berg Banking Litigation Team on 0161 833 9211 or email her at
(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.)