12/22/2023 0 Comments Lloylds tsb bankWe consider many factors when choosing the providers to display in the table.All of the providers we display are fully regulated to provide money transfer services in the jurisdiction you are searching, relevant regulatory authorities are the FCA, ASIC, Fincen, FINTRAC & AMF. We make sure that each table displays the most relevant brands to the country you are sending money to and from. In order to keep our service free we factor in the commercial agreements we have with partners into this ranking. The failure of any other group to put forward a comparable offer was strong evidence that the Bank had obtained the best price reasonably obtainable.The top provider is the money transfer service that we believe is the most suitable for the country you’re sending money to. (3) The fact was that only RCA had come up with a genuine, properly funded bid. Over 70 enquiries had been received in response to the marketing which they had undertaken. No criticism could legitimately be made of the way in which the receivers had marketed the property in the period available to them. In that circumstance a curtailed exposure of the property to the market was justified. (2) It was reasonable for the Bank to have decided that it was imperative that the property be in the hands of a new owner before the Easter meeting. (1) On the evidence the court was entirely satisfied that the supposed intended offer from MP was a sham, concocted to give credence to M's claim that the property had been sold at an undervalue. By these proceedings M contended that the marketing period had been too short, that MP had not been told that there was a deadline to which the Bank and/or the receivers were working, and that as a consequence the property had been sold at an undervalue. On 8 March the Bank repossessed the property and, after making allowances for certain items which had been removed from the property, sold it to RCA for #945,000, notwithstanding that another potential purchaser ('MP') had made enquiries in the interim, with an offer or expression of interest substantially in excess of the sale price. On 29 February the valuers, who were aware of the existing offer and also that there were no other offers, valued the property at #925,000. On 26 February an offer of #965,000 was received from a prospective purchaser ('RCA'). ![]() The receivers instructed valuers to value the property on the basis of a "prompt" sale, and information packs were sent to 73 interested parties towards the end of February. The Bank decided that it wished to sell the property before an important drag race meeting on the Easter weekend. On 16 February 1996 the Bank appointed administrative receivers of SPP. ![]() M had given an unlimited guarantee in favour of the Bank to secure the liabilities of SPP. The Santa Pod drag racing track ('the property') had been charged by its owner ('SPP'), a company owned and controlled by M, to the Bank. Trial of a claim by a guarantor ('M') that the defendant ('the Bank') had realised its security too quickly and without properly testing the market with the result that a proper market price had not been obtained. Unusually the bank had obtained summary judgment against the Claimant's co-guarantor but the Claimant had avoided this by relying upon additional material and a detailed consideration of the timing of relevant events (the summary judgment hearing is not reported) The nature of the business was unusual, and the sale effected quickly and in circumstances which the Claimant alleged called into question whether it was at a proper value. The claimant alleged sale at an undervalue of a drag racing track by a bank, which had taken over at the last minute from its receivers. Bojang Meftah v Lloyds TSB Bank PLC (2001)
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