There are several questions I need answers to and below are just a few of them:
- Why did this happen when the portfolio was not and had never been in arrears?
- Why did the Receiver act as the banks agent in the sale; there is no way a 'proper price' can be achieved or a sale initiated and completed in less than 24 hours?
- Why did the bank refuse all communication in the six months prior to the foreclosure?
- Why was the Receivers valuation £6-8 million less than the two we have in our possession; one by a large national surveying company, the other by a local independent with expert regional knowledge?
- Is there not a potential conflict of interest when the same company was appointed as Receiver who acted as the portfolio valuer on behalf of the bank?
- What happened to the banks commitment to ''Treating Customers Fairly' ...apparently it is 'fundamental to the way Barclays does business' and Barclays 'aspires to the timeless values of integrity, trust, fairness and openness'.
We have had several meetings with Barclays officers over the past eleven months, most of which have come to nothing. We have tried to get the officers involved and their superiors to justify their actions and explain the reasons behind them to no avail.
I am angered that our government offers no support structure for people in our position? We could complain to the FSA but have been told that, if they did initiate an investigation, we would never know the outcome. Surely this is wrong, we should have the right to know what decisions are made by institutions that are funded by the tax-payer. Does this not allow the banks to pillage small businesses safe in the knowledge that their actions will never be disclosed and the likelihood of any public repercussion is minimal?
We could go to court, and have every intention of doing so but, should my husband be declared bankrupt prior to the end of the trial, the whole case will fall due to his financial position. This is probably what the bank is waiting for, no cash...no case. The bank, fully aware of individuals/companies financial circumstances, behaves in an immoral or illegal manner and can do so, safe in the knowledge that there will be no repercussions as they have left their victims with debt, no income and no choice but to declare themselves bankrupt which then robs them of any right to persue legal action.
Barclays Bank may have its own 'Code of Conduct' but it appears to be more of a PR Tool than something that its staff respect and follow.
I would like to hear from other small businesses who have been left in a similar position.
This blog is my way of putting this in the public domain as I want to know the public opinion....legally, a judge has yet to decide but ethically, we must be right.
I will be updating this blog and adding further details regularly and look forward to hearing your thoughts, opinions and experiences.