West 28th Street Limited

[DFYNTREBL]

I'm glad the FCA are taking some sort of action. I've just sent a letter to the FCA too!

 

[mikcyp20]

I have only one question at this point, @coveredname used to answer around this a lot.

On that point, about the 3000+ defendants that may receive court papers - is this new fca saga affecting any of the cost economics?

Can I still take it, it would at least be 1.5mil for them to set the court papers up for all those defendants if they want to pursue all of us?

At least 500£ per case?

Do they have to commit to enter this minimal 1.5mil payment to the court by the 13th of November?

Thanks.

 

[Thunderpants]

The Financial Conduct Authority (FCA) took over the regulation of consumer credit in the UK on 1 April 2014, replacing the Office of Fair Trading (OFT).

Before April 2014, consumer credit activities were primarily regulated by the OFT under the Consumer Credit Act 1974. Businesses generally operated under the OFT licensing regime, with applicable exemptions and transitional arrangements.

After April 2014, agreements were subject directly to full FCA authorisation, supervision, conduct rules, and enforcement powers from day one.

That makes sense now.
I didn't join a scheme until after April 2014 (forced or no job!!) . This means it must be tougher for the scum to try anything.
I got the paperwork in April but didn't receive any claim this time round, and that's probably the reason for the difference in numbers

 

[shampoo]

so why, if 5,754 individuals were part of the schemes, only 3,028 are having to deal with this? Anyone?

Time is not on their side … They are fighting limitation and it suggests roughly half the people on the alleged loan book will be statute barred by the time they cure the FCA and court approval issue (which is not guaranteed).

It stops the clock whilst they work through the blockers. There will also be people who they can’t chase because they simply can’t find them or they are brown bread etc.

 

[shampoo]

My letter of claim gives me upto the 27th November so does this mean I'm in the other group of people?
"Court Claim" as anticipated proceedings against approximately 3,028 individuals to be issued on or before 13 November 2026.

You’ll know for sure in or around the 13th … but the fact you have received a letter claim suggests you’ll be in the 3000 … responding to the letter of claim early seems like a logical next step.

 

[Fergie11]

You’ll know for sure in or around the 13th … but the fact you have received a letter claim suggests you’ll be in the 3000 … responding to the letter of claim early seems like a logical next step.

I've gone back throught the Letter of Claim and clearly states they will issue the claim prior to the 30 day period, but not serve it until after

 

[shampoo]

I've gone back throught the Letter of Claim and clearly states they will issue the claim prior to the 30 day period, but not serve it until after

View attachment 4330823

Things shifted yesterday.

NewRegister

register.fca.org.uk

1. Scroll to "What can this firm do in the UK? → Restrictions."
2. Click "More information" on any of these: Restriction on obtaining default judgments, Restrictions on further payment demands, Requirements relating to vulnerable customers, Notification requirements, or Reporting requirement.
3. In the pop‑up, read the Definitions at the bottom. The exact wording is:

"'Court Claim' means the anticipated proceedings against approximately 3,028 of the Relevant Individuals, which will be issued on or before 13 November 2026."

 

[Fergie11]

Things shifted yesterday.

NewRegister

register.fca.org.uk

1. Scroll to "What can this firm do in the UK? → Restrictions."
2. Click "More information" on any of these: Restriction on obtaining default judgments, Restrictions on further payment demands, Requirements relating to vulnerable customers, Notification requirements, or Reporting requirement.
3. In the pop‑up, read the Definitions at the bottom. The exact wording is:

"'Court Claim' means the anticipated proceedings against approximately 3,028 of the Relevant Individuals, which will be issued on or before 13 November 2026."

They now have a decision to make. Do they really want to gamble what could be millions of pounds in court issue fees across approximately 3,028 claims, while still needing a favourable outcome on any required FCA Validation Orders? We will find out soon enough.

 

[shampoo]

They now have a decision to make. Do they really want to gamble what could be millions of pounds in court issue fees across approximately 3,028 claims, while still needing a favourable outcome on any required FCA Validation Orders? We will find out soon enough.

Its the last role of the dice for them … they have to go to court to stop the clock or 3000 alleged loans become statute barred by the time they get their house in order (If they ever do).

They will then crack on with the FCA validation etc … I suspect this is the time they will also start to look at the merits of each file … especially for those who respond to their letter of claim and those who submit a robust defence in the coming weeks.

Some files will not be economically viable to test in court so will be dropped over time.

Fingers crossed it goes everyone’s way and the FCA validation and court approval goes tits up for them!

**KEEP YOUR EYES PEELED FOR THE NEXT LETTER THAT DROPS AND MAKE SURE YOU RESPOND TO IT**

 

[eek]

Its the last role of the dice for them … they have to go to court to stop the clock or 3000 alleged loans become statute barred by the time they get their house in order (If they ever do).

They will then crack on with the FCA validation etc … I suspect this is the time they will also start to look at the merits of each file … especially for those who respond to their letter of claim and those who submit a robust defence in the coming weeks.

Some files will not be economically viable to test in court so will be dropped over time.

Fingers crossed it goes everyone’s way and the FCA validation and court approval goes tits up for them!

**KEEP YOUR EYES PEELED FOR THE NEXT LETTER THAT DROPS AND MAKE SURE YOU RESPOND TO IT**

going to court should cost them millions and I would be using W28’s disaster of accounts to ask for security of costs because that company is going to close down if things don’t work out.

Separately Fulmar v Williams shows that getting money is going to be fairly impossible if you’ve paid HMRC (albeit there the money is owed to HMRC, so if your tax is correct you’ve paid your share to HMRC).

https://www.iclr.co.uk/document/2026008736/2026ewhc2322ch_TNA/html