It would be remiss of me not to mention that this will be Peter’s last briefing as Editor before he sets off for his well deserved retirement. Peter is a legend of the invoice and asset finance industries and has been associated with Bermans for most of his working life – initially as a barrister in Oriel Chambers in Liverpool when Bermans used his services as an advocate and advisor on so many occasions that he was invited to join us in 1989 as a Solicitor Advocate and Partner. He remained as such until 2013 when he became a Consultant since when he has continued to be an invaluable member of our ABL team.
Jonathan Berkson, (pictured) joined Bermans in June 2013 and is a Senior Partner in our Asset Based Lending and Litigation teams. We spoke to him to learn more about him and his work.
In recent years the Government has applied a great deal of focus to the whole question of the funding of the civil litigation system and the ability of litigating parties to recover costs against opponents.
Funders gearing up to deal with the avalanche of broker commission claims in motor finance cases will likely be aware of a recent stream of negative decisions coming from the higher Courts on matters including the relevant limitation period for bringing claims, but there is some welcome news in a recent County Court decision on one of the key issues.
Bhajan Khalsa joined Bermans in October 2023 and is currently a Trainee Solicitor in the ABL Litigation team in Manchester.
Bhajan deals with contentious and non-contentious matters. The contentious work he is involved in includes bringing/defending claims against directors arising out of insolvencies.
He completed the LPC at Huddersfield University and has previous experience working in asset finance and invoice finance work for a broad range of lenders.
Rachael joined Bermans in May 2023 as a Solicitor in our Asset Based Lending team in Manchester.
Rachael graduated with a First Class Law Degree from Sheffield Hallam University in 2015. Following this, she attended BPP Law School, where she obtained a Distinction in the Legal Practice Course. She then qualified as a Solicitor in 2020.
She is experienced in real estate finance, general corporate finance, invoice finance and asset-based lending.
Outside of work, Rachael enjoys travelling, going on walks in the Lake District and spending time with friends.
Jenny joined Bermans in April 2023 as a paralegal and is currently a Trainee Solicitor in our Asset Based Lending team based in Manchester.
She graduated with a Law Degree in 2021 and the LPC with Business and Management MSc in 2022 at Liverpool University. She also has previous experience in corporate law.
Jenny assists on a range of asset finance, invoice finance, and general corporate finance for lenders and financial houses.
Outside of work, Jenny likes to stay active being a keen runner, skier and gym go-er.
The announcement by the FCA in late July last year of its final decisions on implementing the new Consumer Duty has led to a range of responses within the leasing and consumer credit industries.
The aim of the FCA is said to be to fundamentally improve how regulated firms serve consumers, by setting higher and clearer standards of consumer protection across financial services and explicitly requiring regulated firms to put their customers’ needs first.
Asset financiers have not had much comfort from the sorry tale of the Arena TV fraud, but we did notice with interest a passage in a recent judgment against the main perpetrator individuals behind the fraud which illustrates the principle that in certain circumstances victims of fraud can trace assets such as foreign property which the fraudsters have obtained with the proceeds of the fraud.
On 9 December 2022 HM Treasury published a consultation paper on reform of the Consumer Credit Act 1974 (“CCA”).
The Government announced its intention to reform the CCA in June 2022, with the ambition of moving most of the CCA from statute to FCA rules. Given the scale and complexity of this work, it is expected to take a number of years. The consultation paper is the first step in this process. In it, HM Treasury seeks views on the objectives, principles and overall direction of the proposed reform.
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Jonathan Berkson,
