The market regulator, the Financial Conduct Authority (FCA) has just revealed that only 10% of the potential 30,000 to 40,000 British companies have accepted redress offers for being allegedly miss-sold complex interest rate swap agreements.
It has been reported that as at the end of last month (February 2014) the biggest banks have agreed to pay customers £483million (compared to £300million the month before). It is believed that this relates to roughly 3,400 businesses.
The FCA says that 1,900 customers have yet to agree to participate in the review process.
At Myerson our team have extensive knowledge of interest rate swap claims, LIBOR manipulated claims and those claims arising from the use by Royal Bank of Scotland Plc of West Register and Global Restructuring Group.
We currently represent clients who are at various stages of the pre and post redress stages. We also represent clients who are unhappy with the outcome of the review process while taking matters through the Court process.
Myerson Solicitors LLP are the premier commercial litigation solicitors in Cheshire and South Manchester. Our expert solicitors can advise on all aspects of commercial disputes and debt recovery.