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Two brothers win Supreme Court case against RBS

November 24, 2010

Two brothers with debt surpassing £250,000 have won in a court case against Royal Bank of Scotland to keep their houses, which had been in danger of repossession.

The siblings, both from Loanhead, had taken a loan from RBS to finance their businesses, FJ Wilson Associates and Wilson Brothers, in which they are partners. However, in 1992 and 1993 the brothers failed to pay those loans and in 1995 RBS informed the men that their houses would be taken from them.

Initially RBS won the court case in an Edinburgh courtroom. However, the two brothers appealed the case in the Supreme Court, the highest judiciary power in the UK, and the Supreme Court has ruled in favour of the two men.

Analysts have said that the ruling could have serious implications on the lending industry as Britons continue to amass mounting debts in the face of the credit crunch. The brothers, who live next door to one another, each live with their wives.

Jamie Kinloch, a solicitor at Aitken Nairn, represented both brothers and said he was excited that the court had ruled in the gentlemen’s favour. He called the case ‘highly significant’ in a statement.

The brothers first discovered their homes could be repossess when Alistair Henderson, an assistant recoveries manager working at RBS’s insolvency unit, sent a letter in 1995 informing the men they had 10 days to make significant payments on their £250,000 loan or risk losing their homes.

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