BOS Reading regional office issue


FACTS

R’s two co-directors and spouses had signed personal guarantees supported by charges on their residential homes. BOS were pursuing the couples for £220k after the company went into administration.

The couples wanted a deal to be done so they could be released of the charges on their properties.

OUTCOME

There was a number of queries with respect to the drafting and implementation of the security on the residential homes. Furthermore, the money was lent whilst the BOS Reading regional office that lent the money was under the management of Lynden Scourfield who is currently subject to criminal proceedings for activities at this office.

As a consequence a full and final settlement of £70k was agreed with the bank; it is possible that given more time a better deal could have been negotiated, but clients always have to weigh up the balance between spending an inordinate amount of time and resource fighting the matter against the need to move on with one’s lives.

13 April 2015 By Mel Loades

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