Promontoria news

17th February 2020   The Times    Nick Emanuel v Promontoria


For transcript and commentary, see :-



30th January 2020


Victory against Promontoria


Emmanuel v Promontoria (Oak) appeal judgement published :-



25th Sept 2019


Date and venue fixed for initial group action presentation and invitations sent to all 221 Engage transferees and 181 NCSG members. 



13th Sept 2019


221 Engage letters received from whistleblower delivered to lawyers.



12th Sept 2019 


Intial meeting with lawyers in respect of group action proposal.. 



22nd May 2019


Promontoria (Oak) accounts 31 Dec 17




22nd May 2019


Part redacted copy of Scottish Chestnut Assignation sourced and published




18th May 2019


Unredacted copy of Scottish Henrico Assignation sourced and published.

16th September 2018
See website page "Security for costs"
25th May 2018  The Herald - Mr & Mrs Peart v Promontoria (Henrico) 

22nd May 2018  Court of Session


Mr & Mrs Peart v Promontoria (Henrico).pdf



16th October 2017 
2nd June 2017  Evening Standard
27th May 2017
Names and address of all Promontoria directors published :-
17th May 2017
Judge U turns in English v Promontoria (Aran) Ltd appeal
10th May 2017
Promontoria contracts with NAB / CB published :-
30th March 2017
Burns v One Savings Bank plc
22nd February 2017
George Kerevan (SNP ; East Lothian and member of the Treasury Select Committee) leads a debate at Westminster Hall at 4.30 pm :-
"The purchase of distressed assets by Cerberus Capital Management"
15th February 2017  Evening Standard
10th February 2017  Evening Standard
MPs set to probe Cerberus over toxic loan "tax avoidance" claims 
Parliamentary debate 4.30pm - 5.30pm Westminster Hall




2nd February 2017


Simpson judgement 2 Feb 17.pdf




22nd July 2015 Irish News




27th June 2015


"Balances are almost impossible to get from them, also redemption figures takes an eternity. A monthly or thereabouts interest falling letter is all I have had which has a projected figure and an element of actual interest, I have never and it doesn't look likely had a proper balance showing transactions.

A good old fashioned bank statement is all I asked for. Not possible.

Apparently the balance is irrelevant, " just pay roughly what you were paying before" 

They are debt collectors, but saying that I would expect them to freeze interest payments if they wanted fast repayments and reductions of outstanding loans. 

Just remember that you are due them the money and they are not like any high street bank, no relationship manager will be able to assist you, if you want that kind of service go elsewhere (if you can!)."


Cerberus sub group member




27th May 2015


First Cerberus sub group meeting in Manchester.


17 NCSG members receive letters from NAB informing them that their loans have been transferred to Cerberus. 


2 new enquiries from non NCSG members who have received letters from NAB.


11 Cerberus transferees join the NCSG Cerberus sub group.




11th May 2015


NCSG decides to set up a sub group for members able to scan a copy of their letter from the bank confirming that their loan has been sold to Cerberus. The sub group is private and confidential and the personal details of these members will not be revealed to members of NCSG who are not members of the sub group. A private register will be provided to all sub group members and information will be freely exchanged between them.




9th / 10th / 11th May 2015 


17 members report that they have received letters from the bank informing them that their loans have been sold to Cerberus. 




16th December 2014


Operation Henrico announced. 1300 loans totalling £1.2bn purchased by Cerberus for £950m (Cerberus paid 79% of the value of the loans).




11th December 2014


Herald Scotland announced that NAB is planning another block sale. A bundle of £1bn worth of TBLs has been offered to Cerberus and two other asset strippers, PIMCO and Car Val. Of 560 smaller loans below £2m, around two-thirds are said to be outside the heartland of the Clydesdale and Yorkshire banks.




15th October 2014


One member reports that he has received a letter from the bank informing him that his loan has been sold to Cerberus. 




25th July 2014


NCSG learns that the bank has agreed to sell part of its Commercial Real Estate portfolio to Cerberus, an American company that specialises in the disposal of distressed loan portfolios. Operation Chestnut announced. 432 loans totalling £674m purchased by Cerberus for £485m (Cerberus paid 72% of the value of the loans).





Website Created & Hosted by Website Builder