In regulated Hire-Purchase and conditional sale (but not Lease or Hire Agreements) section 90 of the Consumer Credit Act 1974 (“CCA”) provides that once one-third of the total price of the goods has been paid for, the goods become ‘protected’ and the Financier is not entitled to recover possession without a Court Order except where the debtor gives his genuine consent.
Continue ReadingAlex Chapman
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.
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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.
Continue ReadingFunders 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.
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Rachael joined Bermans in May 2023 and is an Associate 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 general corporate finance, invoice finance, asset-based lending and asset finance.
Outside of work, Rachael enjoys travelling, going on walks in the Lake District and spending time with friends.
Email: rachael.killworth@bermans.co.uk
Tel: 0161 393 7125
Jenny Chapman is a Solicitor in the Asset Based Lending team, based in Manchester.
Jenny joined Bermans in April 2023 in the Asset Based Lending team and qualified as a Solicitor in March 2026. She graduated from the University of Liverpool with a Law degree in 2021 and completed the LPC with a Business and Management MSc in 2022.
Jenny specialises in asset-based lending, acting for a range of financiers on invoice finance and asset-based lending transactions, including refinancings, acquisitions and restructurings, as well as broader corporate finance matters. She regularly supports clients on time-sensitive transactions, with a focus on keeping deals progressing efficiently.
Jenny also supports asset finance clients, including the drafting, review and development of documentation suites.
Outside of work, Jenny enjoys running and skiing, and regularly competes in Hyrox events.
E: jenny.chapman@bermans.co.uk
T: 0161 393 7120
Continue ReadingThe 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.
Continue ReadingAsset 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.
Continue ReadingOn 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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