Bully-Banks preferred advisor

Pragmaticum provides consequential loss expertise to Bully-Banks members

From experience gained in handling losses for a wide range of businesses caused by different circumstances (fires, floods, oil pollution, compulsory purchase etc.) Pragmaticum is pleased to have been chosen as the preferred advisor to identify and quantify the consequential loss and other financial losses suffered by Bully-Bank (www.bully-banks.co.uk) members.

Pragmaticum only acts for claimants, it does not have any relationships with banks (for example we do not have an insolvency practice) and so is un-conflicted.

Its offers members two services depending on their circumstances:

  • Acting as an expert witness for those who are unable to go through the FCA review or who have had an unsatisfactory offer of redress
  • Preparing on behalf of the claimant the "additional information" (i.e. the financial and consequential loss claim) submission that is required after the bank has admitted it’s mis-selling

The review service:

  • Pragmaticum will provide a free review of the potential financial losses by telephone or at a meeting in London.
  • After this, and if necessary a review of further information, a quote will be provided for the amount of work and the level of fees anticipated. The typical range for our fees is £5,000 to £10,000.
  • Instructions can be taken directly or through your legal advisor.
  • Pragmaticum will work with you to build a convincing picture of what your financial position would have been and therefore the loss you have suffered, and prepare a compliant and well supported submission. You will be asked to undertake much of the scheduling and collation work to keep the costs as low as possible.
  • You will be invoiced once the claim submission has been made, but terms allow for payment to be made immediately after the redress payment is received.
  • In the unlikely event that our fees are disputed Pragmaticum agrees to a review by a director of Bully-Banks and to be bound by their decision

The FCA has now set out its guidance on redress and consequential loss in particular, click here.

Businesses are now beginning to receive notices from their banks that invite them to participate in the review of the sale of the IRHP(s).

Many are fearful of participating in the review for fear of upsetting their bank which has such a strong hold over their business and personal assets. However they should not be afraid to come forward as the review process has safeguards built in, which as a member of Bully-Banks will protect you against any adverse behaviour by the bank during the review process. What you need to know about the FCA review

Pragmaticum is happy to be contacted by phone on 01732 860329 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it. to give initial free advice.

 

Pragmaticum Limited is authorised and regulated by the Financial Conduct Authority. Ref: 501527 and by the Claims Management Regulator in respect of regulated claims management activities; its registration is recorded on the website: www.gov.uk/moj/cmr

Pragmaticum Limited is Authorised and Regulated by the Financial Conduct Authority. Ref: 501527