Great relationship between HSBC and FOS, any possible collusion?***Settled***

[slick132]

Hi Sharburrys,

 

On the Form N1, you must give your reasons for suing the other party - ie the Particulars of Claim.

 

What did you put in this box, on the back of the Form N1 or as a separate sheet.

 

[sharburrys]

Thank you Martin

 

But I was let down by the FOS which is a part of government and a bit scared to lose again.

 

How cheeky they are even asking their legal fees??

[MARTIN3030]

Taken the legal action now being threatened with paying their legal costs... hearing date is 17th May 2012

 

These are also known tacs of intimidation which we see quite frequent.

So is the hearing in May a case management /directions ?

[sharburrys]

Hi Slick

 

I will copy and paste it tomorrow afternoon if it is ok with you as the paper work is in the office?

[MARTIN3030]

How cheeky they are even asking their legal fees??

 

If your claim is within 5k then it is likely to remain in SCT which means you will have less exposure to costs.

In fact if your claim is more than 5k,there is still discretion to keep it in SCT if it is not too much over.

[sharburrys]

Sorry Martin did not quite understand what you meant with management/ directions?

 

It stats the hearing of the claimants application for order will take place at 10am 17th May 2012?

[MARTIN3030]

Sorry if I am missing something.

Just confused as to what the application for an order is for ?

[slick132]

Noted.

 

In addition to confirming your exact POC's, can you also confirm if you know what the "the Claimant's (your) Application for Order" is about.

 

Edited April 8, 2012 by slick132

[MARTIN3030]

Re: Great relationship between HSBC and FOS, any possible collusion?

 

Hi Citizen B

 

I would like to ask your help if it is possible....

 

I have just received my paper work from court against

HSBC

(

BCOBS

)

 

Their request is as follows:

 

1- The claimant's (myself) claim to be struck out pursuant CPR3.4(2) (a) and 3.4(2) (b)

2- There be judgement for the defendant pursuant to CPR24

3- Defendant's costs incurred and ocasssioned as a result of this claim and application to be summarily assessed by the court and paid by the claimant forthwith

[sharburrys]

Hello Everyone

 

Just gone into the office to copy my paer work provided to the court please see the information below: I changed the name for Mr Sharburrys for myself

 

G – OTHER INFORMATION

 

The case was opened by the claimant, Mr Sharburrys due to the fact that HSBC PLC sold Mr Sharburrys' shares excessively. This case, claim number ofXXXXXX, has been issued because Mr Sharburrys believes that HSBC PLC may be in breach of the contract held between Mr Sharburrys and HSBC PLC. The claimant believes that HSBC PLC’s action is against the BCOBS for the following reasons:

 

1- £2,558.06 worth shares sold more than what Mr Sharburrys' unauthorised overdraft balance was at the time

2- HSBC suspended Mr Sharburrys' share dealing account almost 10 days even though he had over £6,500 worth shares left after the sale.

3- Mr Sharburrys had to pay £150 + £100 unauthorised overdraft fee for December 2009 and January 2010 for the service he has not effectively used for as his shares were sold to close this negative balance.

 

The evidence as follows:

 

Evidence 1- a copy of Mr Sharburrys' HSBC account statement; for October, November and December 2009

SortCode: xxxxx ACC number: yyyyy

Highlighted with bright yellow colour; page 1a: shows the charges applied to Mr Sharburrys' account before HSBC’s action of selling his shares.

 

Highlighted in bright yellow page 1b – top right corner shows the “Authorised Overdraft Limit” of £1,450 and in the middle of the page again the charges applied to Mr Sharburrys' account due to the fact that account went above the authorised overdraft limit.

Page 2 is the same for December 2009 charges.

 

Page 3 – highlighted in pink colour shows the accounts last position before HSBC PLC suspended Mr Sharburrys' share dealing account; and sold his shares.

 

Mr Sharburrys was overdrawn £5,661.92 overdrawn which was only £4,211.92 above his “Authorised Overdraft Limit”

 

 

Evidence 2 – a copy of Mr Sharburrys' HSBC Invest Direct statement when the sale of his shares took place and his account was suspended.

 

ACC No: xxxxxxx

Highlighted in yellow: shows Mr Sharburrys' account balance was “0” on 1st December 2009.

3rd December 2009 HSBC PLC sold Mr Sharburrys' shares highlighted in pink; the sum of £6,769.98 however;

a- Mr Sharburrys' Invest Direct Account balance was £0

b- Mr Sharburrys' HSBC account balance was -£5,661.92 which was only £4,211.92 above his authorised limit.

 

An excessive of £2,558.06 worth shares was sold in December 2009.

 

Evidence 3 – is the contract between Mr Sharburrys and HSBC PLC which shows the £1,450 authorised overdraft limit and highlighted shows that this limit is set on 6th October 2009 and expires 1 year – 5th October 2010.

 

Evidence 4- shows that a similar position happened back in March and April 2009. When Mr Sharburrys had £700 authorised overdraft limit and when he was overdrawn £2,760.97 (almost 4 times above his limit) HSBC again charged him £150 (which is highlighted) and there was not a concern of selling his shares.

 

Mr Sharburrys believes that HSBC PLC took this action towards the end of year to make their end of year account look better then which may enable the individual employees earn more bonus as this has been in the news for the last 3 years.

 

HSBC PLC’s defence of bullet point number 10- the letters were sent to Mr Sharburrys (which were not received by Mr Sharburrys as you can see there is no headed paper, signature or even a reference number) is concerned of only his “Unauthorised Overdraft balance” in this case a total of £4,211.92 nothing mentioned about the authorised overdraft facility.

 

The conversations between Mr Sharburrys and HSBC was only concerning of the unauthorised overdraft like the letters which (HSBC reckons) were sent.

 

Therefore Mr Sharburrys has never received any notice regarding cancelation/termination of “Authorised Overdraft Limit - £1,450” facility.

 

Mr Sharburrys has been paying a service charge for this account as it is highlighted in his statement. If Mr Sharburrys has been paying an amount of £6.47 every month for “Account Fee” he ought to be entitled to use the authorised overdraft facility.

 

Finally Mr Sharburrys would like to claim the losses occurred when HSBC’s irresponsible action took in place.

Mr Sharburrys would like to claim the following shares (Evidence - 5):

 

Intandem Films 55,555 shares sold at the time for a total of £293.60

Lavendon Group 555 shares were sold at the time for a total of £411.09

Independent News and Media 5,555 shares were sold at the time for £758.19

 

The remaining balance of £1,095.18 and £150.00 of unauthorised overdraft fee for December 2009 and £100 for January 2010 should be refunded with 8% interest (compounded annually) per annum.

 

This wrong calculation by HSBC caused a substantial loss of income as well as incredible amount of stress. Mr Sharburrys had to take time off from work to sort his account out.

 

I am also enclosing few letters which were sent by Mr Sharburrys to HSBC PLC and Invest Direct. – Evidence – 6

 

I look forward to hearing from you.

 

 

Yours faithfully

Edited April 8, 2012 by MARTIN3030

[MARTIN3030]

Thanks.Have removed duplicate post and also identifiers with case number.

[steven4064]

Is what you put in section G the same as what was in your POC?

[sharburrys]

Hi Steve

 

Thank you for your message...

 

I opened the case online; on moneyclaim.gov website and as you can imagine you can not put everything there as I had limited characters but I will copy it below for you:

 

 

 

HSBC sold my shares from my HSBC Invest

Direct account to fund my overdrawn account

of HSBC Current account. 2different terms and

conditions for 2different accounts. HSBC took

advantage of my situation and sold them

without my knowledge and they failed to prove

that they informed me. HSBC sold £6769.98

worth shares despite I was only £4982.6 over

my overdraft limit therefore they sold

£1787.38 worth shares excessively in Dec

2009. Moreover they charged before and after

the shares sold interest and fees of £358.15

for using unauthorised overdraft but this

service was stopped by selling my shares.

BCOBS Banking Conduct of Business I have been

treated unfairly. I would like to reclaim the

amount of shares sold excessively with last

years average price plus the charges applied

The claimant claims interest under section 69

of the County Courts Act 1984 at the rate of

8% a year from 03/12/2009 to 12/01/2011 on

£4,458.36 and also interest at the same rate

up to the date of judgment or earlier payment

at a daily rate of £0.45.

[sharburrys]

The discrepancy on the numbers - this is due to the fact that HSBC responded to my SAP request quite late and I found out the actual loss is bigger than my previous calculation so thread 35 is the correct amounts as I sent the evidence as well. (copy of statements for each accounts and dates showing the overdrawn and sale of shares as well as the letters I sent to HSBC)

 

Regards

[slick132]

Hi Sharburrys,

 

If you look at CPR 3.4(2)(b), you'll see it refers to Abuse of the Court Process and I assume the Sol'rs will try to have your case thrown out because you've not followed the "procedure" for setting out your claim. See here - http://www.justice.gov.uk/courts/procedure-rules/civil/rules/part03#IDAML0HC

 

You may do well to invest in this publication - http://consumeractiongroup.co.uk/paypal.php?go=pearl

 

I'm sure Steven will come back to comment further on this. As it stands, I think there's a good chance the Application to Strike Out will succeed although you should get the opportunity to submit revised POC's to keep the claim live.

 

[sharburrys]

Hi Slick

 

Thank you for the message, what does that mean? What should I do next? Do I have time to make any corrections?

 

Regards

[slick132]

Hi again,

 

Thank you for the message, what does that mean?

It means that, in my opinion, you may have fundamentally compromised your chances of success by not following the recognised procedures for making a court claim. However, you may still have the chance to correct the errors and move your case forward.

 

Best wait for further input to see what others think is best.

 

[steven4064]

I don't think the case will be struck out without a hearing. At any hearing, you can explain that you are a litigant in person with no experience of the County Court and that is why you have not followed the protocol exactly. Also, I am pretty sure that the court will not grant a strike out purely because of mistakes in the protocol a you clearly have a case for unfair treatment. That is IMHO, of course. Others may disagree

[sharburrys]

Thank you Steven

 

Really appreciated your help, so does that mean I dont need to do anything else until the court hearing date 17th May?

 

Also what is IMHO can I use that at court?

 

Regards

[Old Cogger]

Thank you Steven

 

Really appreciated your help, so does that mean I dont need to do anything else until the court hearing date 17th May?

 

Also what is IMHO can I use that at court?

 

Regards

 

IMHO = In My Honest Opinion.

[sharburrys]

Dear All

 

I am going to have the court case on Thursday...

 

I am a bit worried I believe that HSBC hired a barrister for my case and they are trying to reflect this cost to me...

 

I have spoken to a solicitor he said that because it is a small claims court case less than £5K they can not but what I read on the internet they are saying that they are allowed to reflect their costs and travel expenses etc

 

I am a bit worried, I know Steven you said that I have got a good case even though I might have not followed the protocol...

 

Any advise or any updates for me? Is it worth to hire a solicitor or a barrister? is it too late...

 

Please help

 

Regards

[Old Cogger]

Local Solicitor(covers an area up to 100 miles) is what is the norm with them, short hearing £108.00 charge if you loose, poss more on a longer duration?

[sharburrys]

So does that mean; my liability is £108 of their solicitors cost?

[Old Cogger]

So does that mean; my liability is £108 of their solicitors cost?

 

 

That figure gives you an idea of possible charges if you should have cost against you, that was for a so called 15 minute hearing

[sharburrys]

I am really worried now...

I have been treated unfairly and I believe that I have a case but there is a possibility to pay their legal costs because I dont know the protocol?

 

Should I hire a solicitor? or should I try to postpone it?

 

I really dont know what I have done wrong and they are trying to strike the case off for CPR 3.4.2 (a) and (b)

 

What was the protocol I have not followed? I have got only 2 days left now?

 

Regards

Burry