Submitted on Sunday 19th November 2017
Rejected on Tuesday 19th December 2017
Current status: Rejected
Rejection code: no-action (see below for details)
Review Director's Personal Guarantees with the Bank of Scotland between 2006-09.
During the Libor Scandal, the Bank of Scotland requested Director's Personal Guarantees, in favour of Loans taken out with the bank. 'Compensation' has been paid out on these loans (and CT paid on this), however, Directors are still being held liable for the PGs. The FOS is unable to investigate.
Between May 2006 - June 2009, many small businesses took out a loan with the Bank of Scotland, unaware that the rate was 'rigged'. The loans were unfair - and unduly onerous, however, the Personal Guarantees still stand. Due to a new ruling (Bluefin Case) the FOS can no longer investigate Director's complaints as they are now not deemed to be consumers. We therefore urge the Government to independently investigate the legitimacy of these so-called 'guarantees' and give Directors a fair hearing.
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The Government e-Petitions Team gave the following reason:
Petitions need to call on the Government or Parliament to take a specific action.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
18.119.122.140 Thu, 21 Nov 2024 10:45:23 +0000
