Friday came and I was ready for another row with Karl Davies. This time the meeting began with me venting my anger at him and Angela Hardman over the involvement of my son. Mr Davies made it obvious that he wanted to get on to other matters
After a short discussion Mr Davies came up with a ‘solution’: “Barclays would accept a figure of say £200,000 to settle the balances on the loan accounts” (which according to Mr Davies then stood at £310,000!). ‘The £200,000 was to be repaid, in part, by the sale of ‘Darley Abbey’ and any balance would be treated as an interest-free loan repayable only on the voluntary sale of ‘Uttoxter Rd’ or the death of both my wife and myself”. – In other words we would move back to ‘Uttoxeter Rd’ and could ‘get on with our lives’, all court action ended.
The final figures for the ‘settlement’ were £195,000* less £153,500 (sale of Darley Abbey property) + £41,500 Interest free ‘loan’
Angela Hardman said that the ‘paperwork’ would take the form of a ‘High Court Consent Order’ that had to be signed and sealed within the following week to allow the Receivership over Uttoxeter Rd to be withdrawn. The whole ‘deal’ had to be completed within 6 months. Compared with what had been offered in February it seemed reasonable. My companions were enthusiastic and the ‘deal’ was struck with handshakes all round.
But I was a little uneasy………….
Nothing had been given in writing………… Nothing had been signed……
The ‘paperwork’ was being rushed through within a week for no reason, it did not make sense-All Barclays had to do was adjourn any Court Action
But everything was ‘over’ Wasn’t it?
No! Barclays firstly refused to return the rents collected by the Receivers (over £6000!) even though the proceeds of the Receivership were not included in the ‘deal’.
note…To this date the money is still outstanding.
Although nothing was presented for signature at the meeting the proceedings were recorded, Angela Hardman had asked before the meeting started if we would object to one of her clerks being present to take written notes. We did not object. When my demand for the proceeds of the Receivership was refused I asked for a transcript of the meeting, a simple request that would have clarified what had actually been agreed. My request for a transcript was flatly refused – Why?
After the sale of ‘Darley Abbey’ in early October 1997 the only thing left to do was for Barclays to draft a ‘charge’ over the Uttoxeter Rd property to secure the balance of £41,500. A simple document that should have taken a few days to sort out.
On 5th November I faxed Edge & Edison expressing concern that nothing had been done with regard to the charge. By December I had telephoned both the Bank and its solicitors on numerous occasions, all I got were excuses.
The deadline for the High Court was 18th January. I was now getting anxious and took my complaints to my MP, Rt Hon Margaret Beckett, thinking that she might be able to encourage Barclays to sort things out.
At the same time I again wrote to Barclays Head Office. I received no reply, just an acknowledgment.
Christmas came and went, still I had heard nothing. At last on the 10th January 1998 I received a letter from Barclays Business Centre in Derby inviting myself and my wife to call at the branch and sign the ‘charge’. There was no suggestion that we take any legal advice.
Two days later, by appointment, my wife and I went to the Business Centre where we were met by David Powell of Barclays. We were shown the ‘charge’ document that had been prepared by the Bank. I could hardly believe my eyes! Barclays had gone back on everything! Reading through the legal jargon It appeared that the Bank could take us back to Court at anytime for an unlimited amount! I asked David Powell if the document said what I thought it did. “I am only here to witness your signatures” he replied. What were Barclays up to?
EXHIBIT F **mortgage clauses
I said we could not sign the documents and left to seek legal advice, that was Monday, the ‘deadline’ was Friday! If we hadn’t signed by then we would be in breach of a High Court Order, the pressure was on again!