Topic filter : Legal Cost

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....”. Since its bailout in 2008, RBS has incurred penalties and legal costs of £15bn. ... [Read full article on Guardian ]
Wednesday 12th of July 2017 12:55:36 PM
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....The court published a decision on the payment of costs at the weekend, which it made in March. The decision, which brought five years of proceedings to a close, found Philip Morris Asia liable to pay Australia’s multimillion-dollar claim for legal costs. ... [Read full article on Guardian ]
Monday 10th of July 2017 12:47:23 AM
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....Campaigners claimed it as a victory, although the judge rejected the commuter group’s arguments for a judicial review on grounds that the government was in breach of the Equality Act because of problems with access suffered by disabled passengers. He ordered that the ABC should pay two-thirds of the DfT’s £25,900 legal costs. ... [Read full article on Guardian ]
Thursday 29th of June 2017 04:29:06 PM
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Latest Finance News related to Legal Cost

Philip Morris cigarettes charged millions after losing plain packaging case against Australia image
....The court published a decision on the payment of costs at the weekend, which it made in March. The decision, which brought five years of proceedings to a close, found Philip Morris Asia liable to pay Australia’s multimillion-dollar claim for legal costs. ...
Southern rail crisis: Grayling given two weeks to make ruling image
Source : Guardian [Read Article] Thursday 29th of June 2017 04:29:06 PM
....Campaigners claimed it as a victory, although the judge rejected the commuter group’s arguments for a judicial review on grounds that the government was in breach of the Equality Act because of problems with access suffered by disabled passengers. He ordered that the ABC should pay two-thirds of the DfT’s £25,900 legal costs. ...
Tesco fined £8m for fuel leak at petrol station in Lancashire image
Source : Guardian [Read Article] Friday 16th of June 2017 01:17:25 PM
....Tesco, which admitted responsibility for the incident, was fined £5m for the health and safety offence and £3m for the environmental offence at Preston crown court. The company was also ordered to pay more than £57,000 to cover the legal costs of the Environment Agency and Lancashire county council. ...
Compensation at last for Britons burned by Spain’s property crash image
.... Banks usually appeal against the first decision so it’s important to ensure the no-win, no-fee contract covers the entire process. Some judges will award legal costs, typically 10% of the claim plus a further 5% if the case goes to appeal. ...
Judge expects update on Royal Bank of Scotland settlement negotiations image
.... The last time Goodwin – who left RBS in the wake of the 2008 bailout – accounted for his actions in public was in February 2009 when he had appeared before MPs and issued a “profound and unqualified apology for all of the distress that has been caused”. It has been reported that the businessman Trevor Hemmings, who owns Preston North End football club and is helping cover the shareholders’ legal costs, is willing to accept the RBS settlement. ...
Last-ditch RBS talks continue as court is adjourned for a second day image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 08:55:34 AM
.... If the settlement talks fail and the case goes ahead, the former RBS chief executive would be forced to account for his actions in public for the first time since February 2009, when he appeared before MPs on the Treasury select committee and offered a “profound and unqualified apology for all of the distress that has been caused”. It has been reported that the businessman Trevor Hemmings, who owns Preston North End football club and is helping cover the shareholders’ legal costs, is willing to accept the RBS settlement. ...
RBS offers £200m to avert court case brought by 9,000 investors image
Source : Guardian [Read Article] Monday 22nd of May 2017 07:15:06 AM
....The bank’s legal fees are expected to reach £125m if the case goes ahead, including the costs of defending Goodwin and the other defendants. The businessman Trevor Hemmings, who owns Preston North End football club, a chain of pubs and a stable of racehorses, is helping to cover the legal costs of the shareholders. ...
PwC fined £5m over Connaught audit misconduct image
Source : BBC [Read Article] Thursday 11th of May 2017 10:35:26 AM
....Mr Harrison was fined £150,000 and also reprimanded. PwC was ordered to pay the FRC's legal costs and make an interim payment of £1. ...
Geeks v government  image
Source : BBC [Read Article] Sunday 23rd of April 2017 11:03:23 PM
....Stanford's lawyer said he thought they could defend any case by citing the First Amendment's protection of free speech. But the university could cover legal costs only for professors. ...
RBS stake may be sold at a loss, chancellor admits image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:01:26 PM
....In February, RBS posted its ninth consecutive annual loss, with much of the £7bn accounted for by setting aside £5. 9bn for fines and legal costs. ...
Supermarket woes dent FTSE 100 image
Source : BBC [Read Article] Wednesday 12th of April 2017 08:07:25 AM
....Tesco was the biggest loser on the FTSE 100 index, diving 5. 73% after its full-year profits fell because of legal costs arising from a fine for overstating its profits in 2014. ...
Tesco full-year pre-tax profits hit by fine image
Source : BBC [Read Article] Wednesday 12th of April 2017 06:37:34 AM
...."The very pleasing thing is that on every dimension of customer service we've had positive feedback from customers of the service that we're giving, and that's allowed us to drive an improvement in both sales and indeed profitability," he told the BBC's Emma Simpson. Full year pre-tax profit, which includes one-off charges such as legal costs, fell from £202m to £145m. ...
High court approves £129m fine for Tesco over accounting scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:18:16 PM
....As well as the £129m, it has separately agreed with the Financial Conduct Authority to pay about £85m in compensation to investors affected by a trading statement on 29 August 2014 that overstated profits. Tesco will also pay legal costs associated with the agreements. ...
Lloyds to pay £100m fraud compensation image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:13 AM
...."I'll wait to see how much they're offering for an interim fee. The least they can do is cover legal costs. ...
Overwatch 'cheat-maker' told to pay $8.6m to Blizzard image
Source : BBC [Read Article] Tuesday 4th of April 2017 10:23:19 AM
....Bossland had attempted to have the US case dismissed, but did not defend itself in court, according to the news site Torrentfreak. It also faces having to cover about $177,000 of legal costs. ...
How Karen Millen lost the battle for her name – and her fortune image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
.... Insiders pointed out she had been paid “a lot of money” for her name and in 2016 Millen lost – the judge agreed with the company that letting her use her signature elsewhere would create confusion for shoppers. The ruling left her to foot an estimated £2m-£3m bill for both sides’ legal costs. ...
Tesco to pay £129m fine over accounting scandal image
Source : Guardian [Read Article] Tuesday 28th of March 2017 07:16:54 AM
....The supermarket group has separately agreed with the FCA to pay about £85m in compensation to investors affected by a trading statement on 29 August 2014 that overstated profits. Tesco will also pay legal costs associated with the agreements and said the total exceptional charge was expected to be £235m. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
.... Risks from Britain’s commercial property sector have also been reduced after a fall in prices, the FPC said. The Bank’s stress tests on seven leading lenders this year will for the first time include an exploratory scenario that will examine banks’ resilience over seven years of weak global growth, low interest rates and high legal costs and fines for misconduct, and look at the viability of their business models. ...
BrewDog accused of hypocrisy after forcing pub to change name image
Source : Guardian [Read Article] Sunday 26th of March 2017 04:42:58 PM
.... All our money has gone into refurbishing this place and getting it open and we don’t have the same money as they have. We were told we might have to incur their legal costs so we were panic-stricken. ...
Deutsche Bank cuts staff bonuses image
Source : BBC [Read Article] Monday 20th of March 2017 09:25:46 AM
....4bn euros (£1. 2bn) for 2016 after being hit by legal costs, although that was down from a loss of 6. ...
How a £1 million inheritance slipped from our family’s grasp image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:00:32 AM
.... Warring parties typically claim there was “undue influence” placed on the deceased when he or she wrote a will, or that they did not have the right “mental capacity” at the time. In one case in 2012 involving sibling rivalry over a dead mother’s estate, the judge warned that the legal costs would take every penny of the £120,000 inheritance. ...
Christian Candy's finance chief denies 'good cop, bad cop' game image
Source : Guardian [Read Article] Tuesday 14th of March 2017 05:51:04 PM
....A spokesman for CPC said Holyoake repaid the six-month loan after 28 months in 2014. The businessman is seeking £132m from the property mogul brothers in lost profits, loan overpayments, legal costs and aggravated damages. ...
Nick Candy denies claim he is jointly in charge of brother's CPC empire image
....He said his involvement with the loan dispute was because he felt an “element of responsibility” for introducing his brother to Holyoake, who, he told the high court, had been running a “Ponzi scheme”. Holyoake is seeking £132m from the brothers in lost profits, loan overpayments, legal costs and aggravated damages. ...
Jack Monroe wins Katie Hopkins libel tweet case image
Source : BBC [Read Article] Friday 10th of March 2017 03:35:05 PM
. Food blogger Jack Monroe has won £24,000 damages, plus legal costs, in a libel action against columnist Katie Hopkins after a row over two tweets. ...
Royal Bank of Scotland losses more than treble to £7bn image
Source : BBC [Read Article] Friday 24th of February 2017 07:32:39 AM
....A big chunk of RBS's loss in 2016 - which was more than triple the previous year's loss of £2bn - was down to it setting aside £5. 9bn for fines and legal costs. ...
RBS reports £7bn loss and says it will not make profit until 2018 image
Source : Guardian [Read Article] Friday 24th of February 2017 07:27:28 AM
....The 2016 loss was caused by £10bn of one-off items, including £5. 9bn set aside for looming fines and legal costs, largely related to a forthcoming penalty from the US Department of Justice (DoJ) for mis-selling toxic bonds in the run-up to the financial crisis. ...
Southern commuters launch legal claim to force government's hand image
Source : Guardian [Read Article] Wednesday 1st of February 2017 12:04:51 PM
....”. The initial legal costs of £26,000 have been crowdfunded by passengers, who have suffered widespread cancellations and delays on Southern since it became part of Govia Thameslink Railway’s operation in 2015. ...
Gangmasters agree to pay more than £1m to settle modern slavery claim image
Source : Guardian [Read Article] Tuesday 20th of December 2016 10:00:00 AM
. A Kent-based gangmaster couple have agreed to a landmark settlement worth more than £1m in compensation and legal costs for a group of migrants who were trafficked to work on farms producing eggs for high street brands. ...
Australian court increases fine over 'misleading' Nurofen image
Source : BBC [Read Article] Friday 16th of December 2016 01:28:38 AM
...."The objective of any penalty in this case must be to ensure that Reckitt Benckiser and other 'would-be wrongdoers' think twice and decide not to act against the strong public interest," the court's justices said in a joint statement. The pharmaceutical giant was also ordered to pay the Australian Competition and Consumer Commission's (ACCC) legal costs. ...
RBS’s past sins are still shaping the bank’s future | Jill Treanor image
Source : Guardian [Read Article] Thursday 1st of December 2016 01:02:49 PM
....Crucially, it is still confessing its sins from the past. A key reason its health check went badly is that the Bank of England asked it to fess up about how much it might face in fines and legal costs in the year ahead. ...
Handcuffed in Waitrose: the innocent man in search of justice image
Source : Guardian [Read Article] Saturday 26th of November 2016 07:00:25 AM
....Thames Valley Police said that as it had received a complaint in relation to this investigation it would be inappropriate to comment further. Christopher Seddon’s treatment at the hands of both Waitrose and the police shows a gap in the law: a completely innocent person can be arrested and prosecuted and may not be entitled to any compensation, not even all of his legal costs, writes barrister Richard Colbey. ...
Crackdown on whiplash claims could knock £40 off car insurance bills image
Source : Guardian [Read Article] Thursday 17th of November 2016 12:01:33 AM
.... The insurance industry was therefore relieved to see the MoJ announce its consultation on tacking the “unacceptable” situation. Another key government proposal would curb excessive legal costs by effectively removing lawyers from the process in many cases. ...
The ground rent scandal that is engulfing new home buyers image
Source : Guardian [Read Article] Saturday 5th of November 2016 07:01:40 AM
....“We understood there was a law that requires the freeholder to sell the lease after two years if the leaseholder has been in occupation, and there are calculations for this cost. These gave us a figure of around £4,000, plus legal costs. ...
Older leaseholders who fought for right to manage their block – and won image
Source : Guardian [Read Article] Saturday 15th of October 2016 06:00:07 AM
.... It took the residents eight months to gain the RTM, costing £9,000. The bulk of the bill was for legal costs – residents must pay the freeholder’s costs as well as their own, and there’s no legal obligation for the freeholder to use a competitively priced solicitor. ...

High Court ruling due on whether new Labour members can vote in leadership contest 
 image
....Peter Oldham QC, appearing for the party, argued that the NEC had "specific power" to impose a freeze as part of its role in issuing an election timetable. The Labour five have been crowdfunded and are seeking to raise £40,000 to cover their legal costs. ...

Home Office wastes £1.9m on ‘phantom’ deportations for failed asylum seekers
 image
....9 million for 3,543 legal claims including 50 compensation cases costing totalling almost a million pounds. The department had to pay out £420,000 in legal costs for a case where a spouse had been denied access to the UK and £320,000 for overturning a decision to exclude two people from Britain. ...
Deliveroo workers' contracts ban access to employment tribunals image
Source : Guardian [Read Article] Monday 25th of July 2016 06:00:30 AM
....”. While a further clause states that if they do take legal action they must “indemnify and keep indemnified Deliveroo against costs (including legal costs) and expenses that it incurs”. ...
Volkswagen hit by 2.2bn euros diesel emissions charge image
Source : BBC [Read Article] Wednesday 20th of July 2016 11:20:51 AM
....VW has already set aside €16. 2bn to pay for technical upgrades for cars that break clean air standards, buying back cars, and legal costs. ...
Ex-UBS trader Kweku Adoboli loses UK deportation appeal image
Source : BBC [Read Article] Wednesday 20th of July 2016 01:04:22 AM
.... . A crowdfunding page has been set up to help him raise £75,000 for legal costs. ...
Gordon Ramsay eyes first UK restaurants outside London image
Source : Guardian [Read Article] Monday 30th of May 2016 04:44:21 PM
....5m in the previous year to £1m. Kavalake remained in red after a £4m bill for legal costs relating to a fallout with Rowan Seibel, Ramsay’s business partner in the Fat Cow, a Los Angeles restaurant which closed in 2014. ...
Blacklisted workers win £10m payout from construction firms image
Source : Guardian [Read Article] Sunday 8th of May 2016 11:01:20 PM
....Unite said payouts under the latest settlement could range from £25,000 to £200,000 per claimant, depending on such factors as the loss of income and the seriousness of the defamation. The GMB union, which reached a settlement last month, said it believed the total value of compensation in the case was about £75m for 771 claimants, with legal costs on both sides estimated at £25m. ...
Barclays writes to PPI customers to apologise for failing to send statements image
....All have been sent apology letters explaining the error and offering to refund PPI premiums paid since the date of the first missing statement – as well as 8% interest – to those who cancelled their policy as a result. Related: UK's big four banks face £19bn in compensation, fines and legal costs. ...
City News: Hiscox, Premier Foods, Volkswagen and Chapel Down image
Source : Daily Express [Read Article] Friday 22nd of April 2016 10:48:00 PM
....The German car maker, which made a €12. 7billion profit the previous year, more than doubled provisions for legal costs, buying back vehicles and fixing cars that violate air pollution standards to ¤16. ...
Car insurance and the little-known world of credit hire companies image
Source : Guardian [Read Article] Monday 28th of March 2016 07:00:20 AM
.... It never crossed my mind that I would have to be the claimant. Now I’ve received a letter from their [Claimfast’s] lawyers asking me to sign a huge legal document and stating I may be liable for legal costs. ...
HMRC aims at mother of two while continuing 'soft' treatment of Google image
Source : Daily Express [Read Article] Sunday 28th of February 2016 11:57:00 AM
....The case is expected to be heard in the High Court in Birmingham in the summer and J, who is being assisted on a pro bono basis by Zenith Tax Solutions and her barristers, fears that she will be ruined if HMRC wins. Although she could cope with paying the £15,000 demanded by HMRC, the legal costs will be too much. ...
Bad debt hit HSBC's profit image
Source : Daily Express [Read Article] Tuesday 23rd of February 2016 07:12:00 AM
....”. HSBC said its poor fourth-quarter results reflected legal costs and the disposal of its Brazilian business, as well as restructuring costs. ...
Buyers to be hit with new landlord tax amid mortgage and conveyancing delays  image
Source : Daily Express [Read Article] Wednesday 17th of February 2016 03:53:00 PM
...."He added: "One thing borrowers could do to speed things along, is to get the legal side underway as soon at the mortgage application is in. "There’s a bit of risk if the purchase falls through from abortive legal costs, but it does mean the legals would be further down the line, than if you waited for the valuation report to come back or the offer to be issued. ...
EU on brink of RECESSION: Now French bank shares plummet 12 per cent in A DAY image
Source : Daily Express [Read Article] Thursday 11th of February 2016 05:26:00 PM
....Britain is feeling the impact as the FTSE 100 fell to its worst level in more than four years, dropping by nearly three per cent. Societe Generale, which also had to put aside £300million (€400m) to deal with prospective fines and legal costs yesterday, is the latest firm to suffer heavy sell-offs in the European banking sectorFrance and Germany's top stock markets were yesterday down by more than three and two per cent respectively. ...
Rangers gives Sports Direct formal notice to end joint venture image
Source : Guardian [Read Article] Thursday 4th of February 2016 11:51:44 PM
.... The statement came a day after the retailer dropped a high court attempt to prevent the disclosure of details behind the tie-up. “For the first time, a board of this club has stood up to the threats of Sports Direct and has achieved resounding success in court proceedings, including the substantial recovery of legal costs,” King said. ...
RBS takes £2.5bn hit to profits as chief executive announces bank 'clean-up' image
Source : Guardian [Read Article] Wednesday 27th of January 2016 07:50:01 AM
....There are also new provisions of £1. 5bn for legal costsin anticipation of US litigation over residential mortgage-backed securities (RMBS) – which date back to the 2008 financial crisis – taking the total set aside for this matter to £3. ...
Goldman Sachs profits dive on $3.4bn toxic mortgage bill image
Source : Telegraph [Read Article] Wednesday 20th of January 2016 02:49:47 PM
.... . Goldman Sachs' results contrast starkly with those of rivals including JP Morgan, Bank of America, Citi and Morgan Stanley, all of which saw major improvements in their profits as legal costs from 2014 faded away in 2015. ...
US banks beat forecasts image
Source : BBC [Read Article] Tuesday 19th of January 2016 02:01:08 PM
. Bank of America and Morgan Stanley have both reported stronger-than-expected fourth-quarter profits, boosted by lower legal costs. ...
Citi profits jump as legal costs fall image
Source : BBC [Read Article] Friday 15th of January 2016 03:03:07 PM
. US bank Citigroup has reported a jump in fourth quarter profits compared with a year earlier, helped by a big fall in legal costs. ...
Wall Street earnings off to a strong start as JP Morgan beats expectations image
Source : Telegraph [Read Article] Thursday 14th of January 2016 05:11:11 PM
. JP Morgan has kicked off Wall Street’s earnings season with a better-than-expected 10pc rise in quarterly profits, helped by lower legal costs and other savings in the business. ...
Revealed: how Google enlisted members of US Congress it bankrolled to fight $6bn EU antitrust case image
....Latest data shows ICOMP spent €400,000 on lobbying in Brussels between 2013-14. It does not disclose how much it spent on legal costs incurred in connection with the case against Google. ...
Royal Mail fined £40m in French price-fixing scandal image
Source : Telegraph [Read Article] Tuesday 15th of December 2015 12:50:52 PM
....” . Royal Mail set aside £46m to cover any potential fines including £6m for legal costs in its results for the year to the end of March 2015. ...
Volkswagen's European market share falls below 25% image
Source : Guardian [Read Article] Tuesday 15th of December 2015 09:22:54 AM
....Loss of European market share underlines VW’s problems after it admitted to one of the world’s biggest corporate scandals. It faces the prospect of paying tens of billions of pounds in fines and legal costs for rigging its cars to falsify tests for nitrogen oxides (NOx) emissions. ...
Bank of China faces daily fine in US image
Source : BBC [Read Article] Wednesday 2nd of December 2015 12:56:13 AM
....". The judge has also ordered the top-four Chinese lender to cover the retailers' legal costs. ...
Slater & Gordon loses half its stock value over proposed cuts to whiplash claims image
.... The chancellor said the government would consult on ending the right to cash compensation for minor whiplash injuries. He also outlined plans to slash the legal costs by directing personal injury claims of up to £5,000 to the small claims court. ...
Slater & Gordon shares tumble 50pc after George Osborne's clampdown on whiplash claims image
.... Chancellor George Osborne announced measures on Wednesday to tackle questionable whiplash claims, including removing the right to general damages for minor soft-tissue injuries from a car accident. He also plans to cut legal costs by transferring personal injury claims of as much as £5,000 to the small claims court. ...
European banks sitting on €1tn mountain of bad debt, survey finds image
Source : Guardian [Read Article] Tuesday 24th of November 2015 08:15:12 PM
....The regulator considered a number of reasons for the slow growth in profits. As well as bad debts, the EBA pointed to the cost inefficiencies and the cost of so-called conduct issues, such as fines, compensation and legal costs, which absorb almost 4% of banks’ operating income. ...
VW cuts spending as emissions scandal bites image
Source : Telegraph [Read Article] Friday 20th of November 2015 12:55:24 PM
.... Martin Winterkorn quit as VW boss because of the scandal  Photo: AP/Richard Drew. Analysts expect the scandal to cost VW more than €30bn (£21bn) in fines, legal costs, compensation and repair bills. ...
Barclays fined $150m over forex trading by New York regulator image
Source : Guardian [Read Article] Wednesday 18th of November 2015 06:03:08 PM
....The risk of ongoing fines for banks was raised by ratings agency Moody’s in a report this week that put Barclays, HSBC and Royal Bank of Scotland at high risk of further penalties. Moody’s calculated that 15 major banks had set aside £144bn to pay legal costs and settle fines and compensation since the onset of the 2008 banking crisis. ...
Paul Gambaccini: 'Sex allegations cost me £200,000 – but I wouldn’t sue the police' image
.... . I kept a running tab of my legal costs when it started, but they just kept going up, so I stopped. ...
Can we remortgage to pay off the equity loan on our home? image
Source : Guardian [Read Article] Thursday 5th of November 2015 07:00:03 AM
....The minimum you can pay is 5% of your home’s market value, so in your case, and again assuming it’s now worth £197,000, you could pay off £9,850 of the equity loan. You would also have to pay all the valuation and legal costs associated with repaying part of the loan. ...

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