Suing the directors of Home Payments ?

iMax

Just wondering if any of you legal guys would be of the opinion it would be worth trying to sue the directors of Home Payments?

The company collapsed last week & is now in liquidation. They had been using funds that customers paid in to pay bills to utility companies without their knowledge or authorisation, to invest in the property market.

These investments went bad & brought down the company causing many of their 2300 customers to lose overpayments which they held as credit on their accounts (savings). Many people used these funds to pay for unexpected expenses or Xmas or the likes. They are unsecured creditors & are not likely to get anything back. These sums are anything between several hundred to (in at least 14 cases) over ten thousand euro.

Would it be possible for these customers to group together, engage a solicitor & sue the directors of the company for their funds ?

Is there a solicitor who would take on a case like this (possibly on a no-win no-fee basis - people have already lost in some cases their life savings)?

I know we don't have class action lawsuits here, but surely we have multi client ones ?

iMax

iMax wrote: »

Just wondering if any of you legal guys would be of the opinion it would be worth trying to sue the directors of Home Payments?

The company collapsed last week & is now in liquidation. They had been using funds that customers paid in to pay bills to utility companies without their knowledge or authorisation, to invest in the property market.

These investments went bad & brought down the company causing many of their 2300 customers to lose overpayments which they held as credit on their accounts (savings). Many people used these funds to pay for unexpected expenses or Xmas or the likes. They are unsecured creditors & are not likely to get anything back. These sums are anything between several hundred to (in at least 14 cases) over ten thousand euro.

Would it be possible for these customers to group together, engage a solicitor & sue the directors of the company for their funds ?

Is there a solicitor who would take on a case like this (possibly on a no-win no-fee basis - people have already lost in some cases their life savings)?

I know we don't have class action lawsuits here, but surely we have multi client ones ?

Speak to a solicitor. Nobody can advise on contentious legal matters here but you should speak to a solicitor.

iMax

Thanks, not looking for legal advice, just opinion. I should have stated that.

Really my opinion would be the same as my advice, speak to a solicitor.

Zambia

Sounds to me like the horse is dead and you want to organise a kicking.

iMax

I just believe in personal responsibility.

coylemj

Deleted User wrote: »

It's not that, you really can't give opinions here either as the law in this area is really quite complex.

You should have stopped there.

Deleted User wrote: »

You cannot really sue directors personally for their actions as directors but they can be made personally liable for the debts of the company in certain circumstances at which stage their assets are at the disposal of the liquidator for distribution generally and not specifically to anyone one creditor or group of creditors.

If that isn't an opinion or legal advice, I don't know what it is.

Alright then remove my quote as will I if you're that concerned.

coylemj

Deleted User wrote: »

Alright then remove my quote as will I if you're that concerned.

I'm not concerned. I didn't have any problem with the opinion you gave, it was the first sentence that got to me where you said you were not allowed to give opinions, followed by an ..... opinion.