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Consequential losses on mis-sold interest rate swaps

We have written on numerous occasions about the importance of involving a specialist forensic accountant to quantify consequential losses in relation to Interest Rate Swap claims. Never has this been more important and if you know of anyone who has recently received a redress offer by the bank we urge you to contact us.

In recent months there has been an increase in redress offers from the banks. Following the offer of initial redress the bank allows the claimant the opportunity …

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Mis-sold Hedging Products – Using a forensic accountant to calculate consequential losses

It was reported in the news yesterday that Barclays has recently offered the highest payment so far to a victim of a mis-sold interest rate swap.

The offer relates to the sale of a structured collar, one of the more complex of the hedging products. Barclays has offered to switch the customer to a simpler product, waive the break costs of terminating the swap and repay the interest payments.

Whilst the bank has made the offer, unfortunately the customer will not receive …

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Interest Rate Hedging Claims – Do I need a forensic accountant?

As a forensic accountant, Inquesta has been involved in interest rate hedging claims for the last 12 months instructed by solicitors, but also acting for individuals and companies.

Interest rate hedging products, or swaps as they are now more commonly known, were aggressively sold to individuals and SME’s from around 2001 onwards, 2006 and 2007 being the most prolific time.

They are made up of many different products of varying complexities, including a basic swap, cap and collar. They are complex derivative …

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Insolvency News

We have subscribed to a number of RSS feeds giving snippets of the latest insolvency news.

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The advantages of the use of forensic accountants in confiscation proceedings

This article has been provided by Alan Burcombe, Senior Partner at Wells Burcombe Solicitors - www.wellsburcombe.co.uk

The provisions applicable following conviction, and indeed before conviction, such as restraint orders, under the Proceeds of Crime Act 2002 (“the Act”) are well known to be extremely restrictive and harsh in nature. Whilst their effect is designed to deprive a person of the sum they have benefited by from their criminal conduct, such is the nature of the provisions and assumptions which can be made under the …

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