Private practice to launch 100 actions against UK banks
21st September 2012
An Australian-owned UK firm with a number of solicitor jobs in London have announced that they will be representing members of the pressure group Bully Banks as they try to win compensation from the institutions who allegedly mis-sold them a range of financial products and services.
This means that the lawyers working for the private practice are sure to have a busy time ahead of them, as they will be taking on the planned actions of around 100 small and medium sized businesses, some of whom are well known high street chains.
The head of litigation at the organisation said that the claims would be focused on the apparent mis-selling of interest rate swap agreements (IRSA), which he said is yet another example of the widespread ‘rogue practices’ which have been undertaken by numerous banks over the last few years.
He added that his firm will aim to improve on the reaction of the Financial Services Authority (FSA) since the scandal broke, which he says has so far been ‘wholly inadequate’.