TheBusinessDesk recently reported on the case of Jon Welsby, a man who, after losing his property empire due to a mis-sold interest rate swap, created a venture to help other victims take on Britain’s banks . Vedanta Hedging has assisted Mr Welsby’s company, Bluesight Ltd which was also used as a case study example in our meeting with the FCA in 2013.
Mr. Welsby currently heads up Redress Services, which advises entrepreneurs whose businesses were crippled after being mis-sold swap products. Now, with over £100m in consequential loss claims declined by the banks under the Financial Conduct Authority’s review process, Mr. Welsby and the rest of the Redress team are working together to aid small business owners, lawyers and anyone else who has been affected by mis-sold interest rate swaps.
The Redress panel of experts includes Rob Miller, of forensic accountants Inquesta, Mark Beaumont and Sally Dunscombe of Annecto Legal, solicitor Andrew Castle and Ian Lee, who has had a long career as a clerk and consultant to barristers’ chambers. Redress are currently dealing with just over 370 bespoke consequential loss claims in the review process at this moment in time. Speaking to TheBusinessDesk, Mr Miller said:
“The Redress Services team comprises experienced professionals with extensive knowledge of advising on commercial disputes. We are all passionate about providing access to justice for victims of mis-sold interest rate swaps. Hundreds of victims are likely to have been left short-changed by the review process and, by establishing a network of experts, we are able to offer an easier route to achieving justice.”
Here at Vedanta Hedging, we are also working tirelessly to assist in disputes between SMEs and the big banks to help provide transparency, technical and regulatory expertise where possible.
To read more on TheBusinessDesk article, feel free to click here.