HighCourtAction
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I have a forensic accountants report to show how the business could have avoided closure had the bank returned the over-charged amount.
Thanks Jim, I understand your comment regarding the ''future'' which no one could predict, however the report merely confirms that had the refund been made (when the opportunity presented itself to the bank) the business would not have exceeded it's banking facilities and would have continued to trade. In any case your point to the issue of costs is in hand. Thanks again.
Hi Palerider and Jim2007, all told the business was due a refund of 15000 euro, to give you an example I once purchased 7500 euro worth of product and turned it into net sales of 80000 euro, who's to say that what would have happened or not
what I do know is the business had trimmed its overheads dramatically, reduced staff to one, rented out office and warehouse and would have continued to generate cash,
To revert back to my original post I guess there are few if any examples of this scenario. I did find one which is on-line with a case which led to a 6 figure compensation however in this case the business was not lost.
Hi Palerider, I would love to move on without this ''stone in my shoe'', however said bank have me and my ex wife in a difficult place, we had purchased a commercial building which is now in heavy negative equity which was leased to the business, the only leverage I have is this case. Legals have said that I have breach of contract, negligence, breach of duty etc etc so I feel I have to see this through.
Hi Jim2007, The business was Ltd, refund was due to the company, the company was liquidated with debts owing to suppliers and revenue.
I have is this case. Legals have said that I have breach of contract, negligence, breach of duty etc etc so I feel I have to see this through.
Wont even getting as far as high court mean legal fees > 15k in any case ......and you may lose and have to pay other sides costs....
AFAIK dont lower courts deal with low value 15k cases ? ( but I am not a legal person !)
I once purchased 7500 euro worth of product and turned it into net sales of 80000 euro
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