Following the recent, stunning
High Court victory over Club La Costa (CLC), in which administrators BDO were replaced by the creditors preference FRP, the RDO have attempted to present another victory, but on behalf of CLC.
Actual victory
CLC were dealt a serious blow last month when the creditors choice of insolvency practitioners were allowed to take over the administration proceedings, allaying fears in some quarters that the wronged timeshare consumers would not be able to claim their court awarded compensation as part of the administration proceedings.
From 2015 onwards the Spanish courts have been issuing financial penalties against the giant timeshare company in response to their continual disregard for consumer laws enacted to protect customers from
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The FCA is proposing to set higher expectations for firms operating in retail markets.
On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty. This consultation is intended to fulfil the FCA’s new statutory obligation to consult on whether or not to introduce a duty of care in financial services.
Rather than a standalone duty, the FCA is consulting on a package of measures, including a Consumer Principle and supporting rules and guidance (referred to collectively as the Consumer Duty). While some may consider that the proposed new Principle would not add much (or anything) of substance to firms’ existing obligations, the FCA considers that it would nevertheless be helpful to its stated desire to hold firms to a higher standard. In practice, additional expectations are most likely to be set by the accompanying more granular rules and guidance. Although the FCA has not proposed drafting for these rules and guidance at this stage, the
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Research and Markets: UK Personal Injury Market Report 2020: More Uncertainty for a Market Already Facing Demand Pressures - ResearchAndMarkets.com
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Value growth in the market has been between 2.5% and 2.8% in recent years, i.e. 2017 and 2018, but annual value growth improved marginally in 2019 when it reached an estimated 3.1%. However, it is unlikely that this growth will be sustained in 2020 or 2021.
This report looks at the market structure, recent developments and market drivers, the key players, the market size and trends and the future.
The planned small claims reforms have been hanging over the market for months and changes to the timing of these reforms continues to create uncertainty in the sector. These reforms have now been put back again to April 2021 and, if this date is finally the one, then there will be more pressure on a market that is already seeing a decrease in road traffic accident (RTA) claims, the largest claims sector