Consolidated Finance Ltd v Collins & Anor [2013] EWCA Civ 475 (08 May 2013)

Consolidated Finance Ltd v Collins & Anor [2013] EWCA Civ 475 (08 May 2013)

The Facility Letter between Consolidated and Mrs Collins was a refinancing agreement under section 11(1)(c) of the Consumer Credit Act 1974, not a restricted-use agreement under section 11(1)(b); therefore, it was regulated and unenforceable in the present proceedings due to non-compliance with statutory requirements.

Citation
[2013] EWCA Civ 475
Parties
Claimant/respondent: Consolidated Finance Limited; Defendant/appellant: Tracy Anne Collins; Defendant/appellant: Innes Graham Collins; Defendant/appellant: Nicholas Charles Rothoff; Defendant/appellant: Maurice Bailey; Defendant/appellant: Diane Bailey; Defendant/appellant: John Hugh Toye; Defendant/appellant: Ann Elizabeth Toye; Intervener: The Office of Fair Trading
Jurisdiction
England and Wales
Judgment Date
08 May 2013
Procedural Posture
Appeal / Judgment on Appeal From Central London County Court
Outcome
Appeal allowed
Legal Topics
Regulated Agreements, Exempt Agreements, Refinancing, Consumer Protection, Solicitor Duties
Consumer Credit Bankruptcy Contract Law Regulated Agreements Exempt Agreements Refinancing Consumer Protection Solicitor Duties

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Parties

Consolidated Finance Limited

Claimant/respondent

Tracy Anne Collins

Defendant/appellant

Innes Graham Collins

Defendant/appellant

Nicholas Charles Rothoff

Defendant/appellant

Maurice Bailey

Defendant/appellant

Diane Bailey

Defendant/appellant

John Hugh Toye

Defendant/appellant

Ann Elizabeth Toye

Defendant/appellant

The Office of Fair Trading

Intervener

Procedural Posture

Appeal / Judgment on Appeal From Central London County Court

Legal Issues

  1. 1 Whether the agreement between Consolidated and Mrs Collins was regulated or exempt under the Consumer Credit Act 1974
  2. 2 Whether Mrs Collins was indebted to Protection or Consolidated
  3. 3 Whether the Facility Letter constituted a restricted-use or refinancing agreement

Ratio Decidendi

The Facility Letter between Consolidated and Mrs Collins was a refinancing agreement under section 11(1)(c) of the Consumer Credit Act 1974, not a restricted-use agreement under section 11(1)(b); therefore, it was regulated and unenforceable in the present proceedings due to non-compliance with statutory requirements.

Court Disposition

Appeal allowed

Orders

  • Claims by Consolidated Finance Limited are unenforceable in the present proceedings
  • Parties to agree consequential orders