Dunbar Bank,lack of duty of care / negligence
Do you agree that the decision of the Parent Company ( Zurich - The Global Financial Service Group ) to effectively close Dunbar Bank calls into question :
Whether Zurich have :
1. Acted lawfully to ( i ) Their Staff
( ii ) Their Customers
( iii ) Their Suppliers
if your answer is yes then you may care to join this petition, which will be forwarded to the FSA.
Having built up a good relationship with Dunbar Bank over a number of years many Clients entered into loans on substantial property Investment & Development projects. Jointly, they invested many millions of pounds on complicated projects, which in addition to the obvious funding element, required reciprocal trust, great skill, patience and understanding in order to mutually achieve profits running into millions of pounds.
The crash came and Dunbar's parent company Zurich decided they did not want to invest anymore and either stopped or significantly delayed funding, with catastrophic consequences. Massive disruption ,stress, loss of profit and irrepairable damage to peoples' livelihoods - both internally within Dunbar and also externally. The negative effects of the downturn in the Property market have been exacerbated by the length of time taken by Dunbar to review its situation and needs. Subsequent delays have resulted in ( i ) Dunbar forcing many Clients companies into administration, ( ii ) Issuing Statutory demands for personal guarantess on its clients ( iii ) Late payments to suppliers and ( iv ) Laying off staff are other significant contributory factors ( v ) Business disruption and loss of profit to many Companies.
This petition is brought, not only to reflect circumstances of individual cases, but to formally request Zurich are investigated on the following grounds :
A ) Negligence and lack of duty of care ( To embark on complex projects and half way through, because of a financial blip, lose ones nerve and not want to continue is irresponsible )
B ) Lawfulness. Have Zurich acted lawfully to its Clients, Suppliers and Staff of many years who have been ostracised and edged out ? This is not the first property downturn, property is cyclical and always has been. Zurich must have known this when it purchased the bank.
C ) Independent examination is requested as to perceived impropriety, emanating from Zurich, as to the decision making of the Dunbar Bank Credit Committee.
Please consider your own circumstances and join this petition if you feel as a Client, Supplier or ex member of staff you have been wrongfully treated by Zurich. The Senior Management should be investigated and held accountable for their decisions and actions.
4 years agocoryn warren United Kingdom4 years ago
5 years agoKevin Heaney United Kingdom5 years ago
6 years agoPauline Francis United Kingdom6 years ago
6 years agoRichard Francis United Kingdom6 years ago