Court case latest

[Cyberman]

Decisons by the ECHR are NOT enforceable. It's a question of sovereignty. The ECHR cannot force any change in the law of a member state.

Though should a member state choose not to enforce a decision or change domestic law to be compatible it would lead to a very interesting constitutional crisis.

HMG have always implemented the decisions of the ECOHR as far as I am aware. There was also an asylum seeker case that they lost. Can you give an example a case that HMG lost and refused to implement ?

[Cyberman]

a status update:

http://www.thelawyer.com/cgi-bin/ite...15&h=417&f=416

[Cyberman]

Amazingly the BBC are reporting it !!

http://news.bbc.co.uk/2/hi/business/7825614.stm

[BrilloPad]

"The hearing is expected to last more than three days. "

When is the verdict due?

[Cyberman]

"The hearing is expected to last more than three days. "

When is the verdict due?

Approx. one month later.

[tim123]

Tim123..... all banks borrow from the money markets. If they did not the economy would grind to a halt as it is currently doing.

You simply didn't read what I wrote did you?

The NR borrowed each monthly tranche of new mortgage money from the money markets for a fixed short period (2 years IIRC), so they had to go back to replace "expiring" loans every month.

They did this because by being a "rate tart", they got better rates (whilst there was people wanting to lend to them!)

NORMAL banks matched the term that they borrowed money with the term that they lent the money, so that they always had a matching position.

So, when the money markets stopped lending, NR were completely ****ed whereas other Bank could just retrench.

tim

[Cyberman]

You simply didn't read what I wrote did you?

The NR borrowed each monthly tranche of new mortgage money from the money markets for a fixed short period (2 years IIRC), so they had to go back to replace "expiring" loans every month.

They did this because by being a "rate tart", they got better rates (whilst there was people wanting to lend to them!)

NORMAL banks matched the term that they borrowed money with the term that they lent the money, so that they always had a matching position.

So, when the money markets stopped lending, NR were completely ****ed whereas other Bank could just retrench.

tim

Tim123, I did read but your assertions are incorrect and I am not going to waste more of my time. You don't accept that there is a liquidity crisis that is affecting all banks so there is no point arguing with you.

[Ardesco]

He may well do because judges are very close to HMG, as we have seen in many cases, and of course, they got exempted from IR35. The next step after that is the ECOHR where the judges are far removed from HMG and a much fairer and more lucrative outcome can be expected.

You honestly think so??

Have a look at the case of O'Halloran vs UK in the ECHR:

http://www.ius-software.si/EUII/EUCH...9_06_2007.html

Really no way he should have lost, but the ECHR decided to side with the UK government rather than open a can of worms that would tie up the UK courts for years and cost the government billions of pounds in paid back fines. The most interesting reads are the dissenting statements that were released (bottom of the page)

[Cyberman]

You honestly think so??

Have a look at the case of O'Halloran vs UK in the ECHR:

http://www.ius-software.si/EUII/EUCH...9_06_2007.html

Really no way he should have lost, but the ECHR decided to side with the UK government rather than open a can of worms that would tie up the UK courts for years and cost the government billions of pounds in paid back fines. The most interesting reads are the dissenting statements that were released (bottom of the page)

I don't see what a speed camera case has to do with Northern Rock. Speed cameras throughout Europe are used as a stealth tax, so I am not really surprised at somebody losing a case.
Northern Rock is a straightforward case of HMG stealing assets which have a high value and trying to deprive shareholders of their worth to float later and make billions. That's a totally different moral issue.

[Cyberman]

'HMG expect to make a windfall by floating Northern Rock at the expense of shareholders'

http://www.telegraph.co.uk/finance/n...ut-unfair.html