Bong v Morgan Stanley - **WON**

[Guest bong]

Smeagain,

 

Another claim started today at MCOL against Morgan Stanley. This one's a biggy (by my standards anyway). £764.52 charges and interest, £158.81 county court interest, £80 court costs.

TOTAL £1,003.33.

 

Will update here as and when I hear anything.

[Guest bong]

Notice of Issue of claim received from court. Defendant has until 3rd October to reply.

[angry cat]

Good Luck to you bong and...Keep the Faith! Angry Cat:)

[Guest bong]

Thanks Angry Cat!

 

Morgan Stanley acknowledged claim online at MCOL today. They have 28 days to reply from date of service, which takes us to 17th October.

[Guest bong]

Had two letters today re. my claim against Morgan Stanley

 

1. Copy of Morgan Stanley's acknowledgment of service from the court, stating that they intend to defend all of my claim

2. letter from Morgan Stanley (Victoria Maschio, Law Division) confirming that they intend to defend the claim, that they disagree with my legal analysis, but "nonetheless" hoping that I can "resolve my claim more amicably and quickly by following this procedure than by court proceedings, especially given my continued custom, the value of my claim and the simplicity of the issue in dispute. Morgan Stanley are prepared to credit my account with £1,003.33 in respect of [my] claim without any admission of liability on their part provided agree to the settlement terms:"

 

1. the offer is accepted in full and final settlement of my claim and the subject matter (including any future claim against Morgan Stanley in relation to default charges applied in accordance with the T&C) costs and expenses.

 

2. I sign and date a copy of this letter confirming my agreement and return it to Victoria Maschio

 

3. I write to the court within 2 days of accepting the offer informing them that I have reached settlement with MS and that I wish to withdraw in its entirety the claim I have brought

 

4. Send a copy of that letter to Morgan Stanley

 

5. The details and terms of the offer together with any prior discussions or correspondence related to my claim remain confidential between myself and MS.

 

This offer is available for acceptance up to and including 4pm 4th October 2006."

 

As I need to dash out now to collect my children from school I will come back later with my thoughts on the above, I am not sure from stuff I have read elsewhere in the forum whether you have to accept their terms once you've been offered the full amount, but having put the contents of the letter on here now I suppose I have already broken the confidentiality clause.

[angry cat]

Ah Ha...Now I have corresponded with Ms. Victoria Machio and I am still in correspondance with.....

Ms. Victoria Machio

Morgan Stanley Bank International Ltd

Law Department

25 Cabot Square

London E14 4QA

 

Please take note, the above address sometimes changes to:-

20 Cabot Square????

 

Bong, you do not have to accept the above 'Unfair & Unreasonable Terms! Together with the fact, you cannot with all honesty accept the 'Confidentiality Clause' for obvious reasons. Plus the fact, that if they require your silence, then...

MS should put the money where theIr mouth is. Meaning, pay you an appropriate fee, for your Silence.

 

"Tell MS - COMPUTER SAYS "NO"

 

Morgan Stanley Take Notice that 'All our EYES are Watching and 'Making A Record of your Actions' !

 

Be Steadfast Bong.

 

Love Angry Cat:)

[Guest bong]

Yeah, thanks again Angry Cat, I'm not going to accept her terms - a) because I can't agree to the bit about no future claims and b) because I don't believe I'd lose my case in court.

 

I'll post my reply on here.

 

Watch this space!

[Guest bong]

Forgot to say, her letter was marked WITHOUT PREJUDICE SAVE AS TO COSTS!

[angry cat]

Yes Bong,

Ms Maschio always states on her letters:-

"WITHOUT PREJUDICE SAVE AS TO COSTS", the same applies to Ms. Stephanie Oliver!?

AC

[Guest bong]

Ok.......

 

Dear Ms Maschio

 

Thank you for your letter of 20 September 2006, regarding my claim reference xxx.

I too remain hopeful that settlement can be reached between us. Nevertheless, it is not my view that you would succeed in contesting my claim and in view of this I am going to press for my own terms of settlement. In order to save on time and further correspondence between us I enclose my terms of acceptance, duly signed and dated as of today.

 

Please be aware of the following:

 

a) I do not agree to waive my entitlement to claim for any future penalty charges applied to my account,

b) I do not authorise you to credit my account with Morgan Stanley with the settlement amount,

c) I will only withdraw my claim at the court once I have received cleared funds in my bank account, and

d) I can see no reason and indeed have no incentive for agreeing to be bound by your confidentiality clause.

 

SETTLEMENT TERMS

 

1. Morgan Stanley Bank International Limited will issue a cheque/banker's draft in favour of [bong] for £1,003.33 in full and final settlement of the claim number 6QZ63358 in the Northampton County Court.

 

2. [bong] will write to the Northampton County Court within two days of the clearance of the aforementioned instrument informing the court that settlement has been reached with Morgan Stanley and that the claim number 6QZ63358 is being withdrawn in its entirety.

 

3. [bong] will send a copy of the aforementioned letter to the court to Morgan Stanley, senior counsel, law division etc..

 

signed & dated....

 

 

Does anyone have any comments before I send this off on Monday?

[clarkey1]

Go for it Bong.

 

I am sure you will succeed.

 

If I was you I would also request a copy of your Signed agreement and there T&C's may see something of interest:wink:

[Guest bong]

Thanks clarkey.

 

Not sure what you mean about seeing something of interest?

[angry cat]

the following link was my reply-

 

http://www.consumeractiongroup.co.uk/forum/general/9016-angry-cat-morgan-stanley-6.html#post168004

 

love AC

[Guest bong]

Thanks AC. While we're on the subject of links within a thread how do you do them? I'm a bit thick when it comes to doing stuff like that.

[angry cat]

Hi Bong

If you look at the top of the page on each post there is an icon with the name permalink. All that you have to do is to click permalink and then copy & paste the relevant post URL

AC:)

[Guest bong]

Right, so am I right in thinking the URL is the address currently showing in my address bar at the top of my screen (http://www.consumeractiongroup etc...) or is it the title of the thread that you copy and paste?

[angry cat]

Hi Bong-

when you click the permalink, the address at the top of the screen changes to the relevent post address-

all you have to do is to highlight that address at the top of the page, then click copy. Go to the appropriate thread or page were you want the link to go-

type your message and then place you cursor belw that message-

then go to edit click paste and Bingo! you should have your link.

 

If I can do it you can LOL

It is my pleasure to help

Love AC

[Guest bong]

I am very grateful for your help and now hope to put it into practice!

[Guest bong]

Have decided to change the wording of my letter as follows:

Dear Ms Maschio

Thank you for your letter of 20 September 2006 in relation to my claim.

I too am hopeful that settlement can be reached between us.

Nevertheless, it remains my view that the money (subject of this claim) is legally mine and as such you are not in a position to impose “terms” on me for its repayment. My terms are quite simply that you send me a cheque or a bankers draft (please do not credit my Morgan Stanley account) to fully satisfy my claim. When the cheque has cleared I will withdraw my claim at court and notify you of the same. I see no justification for this to remain confidential between us.

Thought it was tidier than the other approach. Will let you know how it goes!

[angry cat]

EXCELLENT!!!.....

 

YOU GO GIRL... "Stand Up for Your RIGHTS"..!!!

 

Love AC

[Guest bong]

Update -

 

letter from Victoria Maschio today in response to my letter of 25/9/06.

 

"Dear [bong]

 

WITHOUT PREJUDICE SAVE AS TO COSTS

 

T/y for your letter dated 25 September.

 

Morgan Stanley are prepared to make a payment of £1,053.33 [so she's thrown in an extra £50 for my silence!] in respect of your claim without any admission of liability on their part provided that you agree to the following settlement terms."

 

The letter goes on to include the same terms as before - except that she's changed the bit about writing to the court within 2 days of accepting the offer to writing to the court as soon as the payment has cleared in my account.

 

Offer available for acceptance up to and including 4pm 12 October. Still wants to credit my MS account and agree to no future claims against MS and confidentiality - THEREFORE I CANNOT AGREE!

 

Not sure whether to reply or just ignore it. Do I repeat what I said before? What do you think friends?

[angry cat]

I would keep you answer short, in that you will not accept their unfairly imposed terms.

 

look here

http://www.consumeractiongroup.co.uk/forum/general/9016-angry-cat-morgan-stanley-7.html#post218628

 

then read the following suggested short letter, as advised by Bookworm

Love AC

[Guest bong]

Cheers AC - will send them another letter. Might send her a pair of glasses to read it with this time!

 

Thanks for your unfailing support.

[Guest bong]

Am proposing to send the following letter to MS on Monday

 

Thank you for your letter of 28th September 2006.

I will accept a cheque of £1,010.00 to withdraw my Claim. When the cheque has cleared I will withdraw my Claim at court and notify you of the same. I do not agree to your settlement terms.

I've added in a little bit to cover my interest and costs. Here's hopin'!

[angry cat]

and...I consider that a District Judge would take a very 'dim view' about Morgan Stanley's attempt at imposing unfair / unreasonable terms, in what is a simple monetary Claim.

 

Love & Kisses Bong.

 

Good Luck and I agree maybe, you should enclose a pair of spectacles for Ms. Maschio!! AC:)