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Bank ‘forged’ guarantee signature of distressed customer, rules High Court

Compliance Monitor

Bank ‘forged’ guarantee signature of distressed customer, rules High Court

Allegations of bank staff forging signatures that would allow them to enforce recovery and repossessions against vulnerable customers have festered for years in the United Kingdom, while authorities in the United States and Australia have uncovered alarming levels of such practices. Now, the English High Court has upheld a claim, reports Denis O’Connor.

The High Court recently ruled that a challenger bank, Aldermore, cannot enforce a personal guarantee to recover £1.2 million against a businessman, Roderick Lynch, as the signature on the document was not his. [1] Rather, the Court found “the signature was signed by a person at the bank”. As a result of the Court’s ruling, many questions will arise.

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