Abusive lending practices (HBOS, GRG)
The scandals of RBS’s GRG and HBOS’s Impaired Assets Office are the most dramatic examples of banks exploiting their power over dependent businesses. The coronavirus crisis has provided new opportunities for banks to withhold agreed lending and to claim that customers are in default of covenants in loan agreements.
At Forum, we provide clear advice as to the strategic options available to customers faced with such bullying tactics. If the bank has already enforced its security, we are in the vanguard of constructing the arguments that hold banks to account for acquiring customers’ assets at an undervalue, overcharging customers, and forcing businesses into insolvency.