Between 2008 and 2010, a number of people all over the country bought plots of land from various different companies upon the assurances that the land where the plots were situated would gain planning permission and thereafter be sold on to developers generating a large profit for investors. Unfortunately for the investors, the schemes were a scam from the outset and there was no reasonable likelihood of the sites being granted planning permission due to their location on green belt land.
Thankfully for the investors, the Consumer Credit Act provides for an alternative remedy against the credit card providers in the event that some, or all, or the purchase price was paid on a credit card.
In the last week at Howlett Clarke, our Consumer Credit team has won a case at the Central London County Court in a landbanking claim. In this instance, the Bank argued that the investor’s claim was out of time and therefore statute barred under the Limitation Act. However, we were able to successfully argue, with reference to the case of Malouf v MBNA in which we also represented the successful claimant, that the statutory limitation period should only begin when the investor becomes aware that they have been a victim of the fraud. The Court found in her client’s favour and she was awarded the majority of her initial investment as damages in £8,000, plus interest. The team has also recently secured an out of Court settlement for another of our clients, who was caught up in this fraudulent scheme.
We still have a number of other cases ongoing, so keep an eye on our website for any future success stories.
At QualitySolicitors Howlett Clarke we offer a unique Ask the Legal Expert (ALE) appointment for £99.00 including VAT. You can meet with one of our specialist lawyers in our Brighton or Southwick offices for a one-off 45 minute face-to-face meeting, where you will be provided with jargon free, practical advice based on your particular situation. Our lawyers will discuss with you the necessary processes and related costs, the pros and cons of your options, and what you would like to achieve.
If you have also been the victim of a similar fraud, please contact us on 01273 838187 for an initial consultation where we can advise you whether or not you may have a claim to pursue against your credit card provider.