Trust Deed Forum - RBS PPI Claim After Trust Deed - 2019
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 RBS PPI Claim After Trust Deed - 2019
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TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 04 December 2019 :  12:20:33  Show Profile  Reply with Quote
Hi Mb77,

There's a short summary about this towards the top of this article:

https://www.trust-deed.co.uk/rbs-and-ppi-claims-after-trust-deeds.html

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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head-just-above-water
Advanced Contributor

67 Posts

Posted - 04 December 2019 :  13:17:06  Show Profile  Reply with Quote
The update is really good. I remember the original supreme court saying the creditor could try to get the trust deed open to get the money in. But would the original trustee not have to agree to take the case back on. Then contact everyone of the original creditors. Because the money would be shared with all of them not just one. Otherwise it would be unfair on the rest of the original creditors. But here is a kick in the tail. What happens if the original trustee is a). No longer in business. b). Refuses to reopen or be involved in it. c). Reopen the trust deed claims in the money and takes most or all it in fees trying to do the above. Or worst case spends more that they get back in. Who has to pay that.. someone will have to.
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TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 04 December 2019 :  13:32:40  Show Profile  Reply with Quote
I think, in this instance, that the aim of any "reduction" would simply be to enable RBS to set-off against the debt owed to them.

I'm afraid I have absolutely no idea what (if any) other consequences would follow if this were attempted and successful.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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head-just-above-water
Advanced Contributor

67 Posts

Posted - 05 December 2019 :  15:30:40  Show Profile  Reply with Quote
I know what you are saying. But that's rbs getting two bites at the cherry. If I where another creditor I would be kicking up a stink. If rbs get a pay out from the trust deed and get to keep the extra money to themselves. But it maybe a mute point and they will just give up....aye right.
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Kayak
Advanced Contributor

72 Posts

Posted - 05 December 2019 :  19:00:44  Show Profile  Reply with Quote
head-just-above-water, your questions are answered in the court ruling. Trust Deeds cannot be re-opened. RBS have acted incorrectly as any monies they set off should have gone to the Trustee. By doing this RBS have taken 100% of these monies which is unfair to the other people mentioned in any trust deed getting an equal share of any estate owned. This as it said in the court case would be near on impossible to impliment, hence a TD cannot be re-opened as it would then throw up masses of legal arguments and make the whole TD process a sham. RBS should just pay back the money they have been told time and time again they have no right to take. My feelings are the Supreme Court would bow to their peers who have read this case in lower courts and go with their findings and not allow a case to procedee in the supreme court.
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Bacardibill
Regular Contributor

19 Posts

Posted - 06 December 2019 :  09:32:21  Show Profile  Reply with Quote
I have had an e mail from Ms Donnelly's solicitors confirming RBS are to appeal again to the Supreme Court, in there opinion they do not think RBS will be successful but again it means a further wait for all of us with "Set Off" monies being held by RBS.
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head-just-above-water
Advanced Contributor

67 Posts

Posted - 06 December 2019 :  10:15:19  Show Profile  Reply with Quote
Hopefully the supreme court says there is not a point of law that needs clarified and refuses to hear it.
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Luke4630
Advanced Contributor

117 Posts

Posted - 07 December 2019 :  09:24:57  Show Profile  Reply with Quote
Hi going to send over a copy off letter from rbs . You are welcome to Read it. See what you think
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Kayak
Advanced Contributor

72 Posts

Posted - 07 December 2019 :  10:31:35  Show Profile  Reply with Quote
Colin what letter?
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Kayak
Advanced Contributor

72 Posts

Posted - 07 December 2019 :  10:33:16  Show Profile  Reply with Quote
Apart from the standard email, i have received nothing to my previous two emails to RBS website using the standard form. So if i had not contacted the head of RBS i would have nothing?
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Luke4630
Advanced Contributor

117 Posts

Posted - 07 December 2019 :  14:35:18  Show Profile  Reply with Quote
Nothing new . letter from jan 2019 .
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contoboy
Frequent Contributor

41 Posts

Posted - 10 December 2019 :  14:45:00  Show Profile  Reply with Quote
I assume the general consensus is that RBS will now appeal to the Supreme Court, if they get permission to? Wonder if they will do the right thing and compensate those people who lost millions in investments since they appear to want to balance the books. They should accept the judgements and pay out instead of constantly appealing and losing.
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head-just-above-water
Advanced Contributor

67 Posts

Posted - 10 December 2019 :  15:29:32  Show Profile  Reply with Quote
Heres a couple of more articles about the rbs ppi saga


https://www.scottishlegal.com/article/rbs-ordered-to-make-ppi-payout-after-failing-in-insolvency-set-off-appeal
https://www.icas.com/professional-resources/insolvency/latest-developments/debtor-wins-latest-ppi-set-off-dispute

Good reading.
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contoboy
Frequent Contributor

41 Posts

Posted - 10 December 2019 :  19:17:40  Show Profile  Reply with Quote
Iím quite sure that when a person has a trust deed registered then most banks who were owed money would have seen that PPI was added to that account. Therefore should RBS not have brought this to the attention of the trustee in order for all available money to be shared? Iím not saying RBS have intentionally withheld PPI knowing that they would use the outdated legislation in there favour but worth thinking about. I also know that many trust deeds were discharged prior to the mis selling of PPI.
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Duckbill
Regular Contributor

20 Posts

Posted - 17 December 2019 :  23:13:33  Show Profile  Reply with Quote
Hi Guys, all very quiet on the home front! Has anyone heard any developments? Currently awaiting the next move from RBS - anxious but not scared because I know that we have justice (Right) on our side.
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