Our Bank Class Action in Australia: a model to follow in the UK?

Hi Guys,

Susan Field in Melbourne & Jennifer Block in QLD are heading up the “Australian Foreclosure Class Action Against The Banks“.

If you are interested in joining us, then we need you expression of interest NOW in order to move forward. (see details below)

The purpose of the class action is to gain legal victory against fraudulent bank claims over alleged borrowers.

We would like to see determinations such as:
•    no true loan exists
•    that the borrower’s promissory note constitutes a valuable deposit
•    that securitisation voids all rights of the originator to claim against the alleged borrower.  

Outcomes sought will likely include:
•    striking down the alleged loan
•    striking down the mortgage
•    repayment of fraudulently charged interest and principle
•    and payment to ‘borrower’ of monies earned through the bank’s sale of the promissory note.

Such outcomes are not unreasonable and have been achieved in the USA.  See for example  http://www.youtube.com/watch?v=sc39chef30k

At the same time, please understand that this is NOT guaranteed as the lawyers along with the group will ultimately determine the scope of the case.

Assuming a win, there will also be claims for damage and injury.  Each person will have different claims depending on whether or not the bank has tried foreclosing on them etc.  Each litigant, including those still up to date with principle and interest payments is however, the victim of fraud, and there are guidelines regarding compensation for such.

There are two possibilities re a law firm.  At the moment we’re not naming any.  We’re not trying to be secretive, but need things to be firmed up before we can say anything.  I’m sure you understand.  Be assured though that we’re talking to solicitors who are experienced in this arena and can handle a large class action.

We have to demonstrate two things to the solicitors before they will commit to taking on the class action.
•    That we have a legitimate claim.  Discussions are under way on this matter and are progressing positively.
•    On the basis that our discussions are showing promise, we need to also demonstrate that we have enough people to effectively mount a class action.  This is why we have put a call out for ‘expressions of interest’.  There is no final committment required by anyone at this point but the more expressions of interest the better.  With that thought in mind, there is no harm in the people of your group registering their interest if they want.  It will only add weight to our cause.

Assuming the firm of solicitors will take our case, we then have to get funding.  This will NOT be a ‘no win no fee’ case.  However, there are litigation funders our there who, for 20-45% of damage claims will fund a case.   There are some minimal requirements by funders.  For example:
•    They have to consider the potential size of claims.  One funder we have talked with says there has to be a minimum of around $4M in damage claims before they will consider funding.   That won’t be a problem for us.
•    Also, they won’t consider funding until they receive communication from the solicitors who confirm that, not only are they are taking the case but they are doing so because they believe it has a very good chance of succeeding.

So you see, there are several hurdles to be crossed before the whole thing can be up and running.

We can’t guarantee that there will be no cost to participants.  With that in mind, it is recommended that people be prepared to find $500 initially to get things moving until we secure a litigation funder to take over.

All participants will need to pay $100 for a mortgage securitisation audit to expose the chain of title search to prove unequivocably that their mortgage has been securitised.  (This normally costs $2000 overseas, but we have someone here in Melbourne that will only charge $100)

Kind Regards,

Susan Field

If interested, please complete the details below & email that section ONLY back to ourbankclassaction@gmail.com  ASAP

Expression of Interest details:

Name/s:

State of Australia:

Contact Phone Number:

Email:

Skype:

Name of Bank:

Are you currently in foreclosure court proceedings?

Are you willing & able to provide $500 initial payment to the class action?

Are you willing & able to pay $100 for your mortgage securitization audit?

Are you willing and able to be on the members committee to help steer this ship?

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About Sabine Kurjo McNeill

I'm a mathematician and system analyst formerly at CERN in Geneva and became an event organiser, software designer, independent web publisher and online promoter of Open Justice. My most significant scientific contribution is www.smartknowledge.space
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3 Responses to Our Bank Class Action in Australia: a model to follow in the UK?

  1. Stanley Embling says:

    If we get honest trustworthy Judges and Lawyers back in The UK Courts then theres NO PROBLEM …. but until that happens I continually think of the time, (as an “enforced Litigant in Parson”) when I got saddled with a big Bill of Costs of near £27.000, and then only got it removed off me (two years later,) by a good honest Judge who personally admitted as to have taken time to read all evidence and relevant Law Lord Rulings and ECOHR rulings that I supplied to him to back my Appeal against previous unlawful costs imposed on me by fraudulent actions…Therefore If and when that Trust and Honesty is restored among Judges and Lawyers in The UK Courts then I’m in total agreement in helping funding any such proposed action!

  2. albert john jewell says:

    dear peter oakes & jake maverick please put your comments in again coz stan embling has told me they had quickly dissapeared ..P.S. I would be interested as to WHY ??? G.B.Y albert john jewell. P.S. Sabine may also want to know! ………………………………….P.P.S.,You will often find your court paperwork goes missing from your” Bundle” or it gets”tampered ” with once you put in for ” Service” as happened often by stanley embling . G.B.Y. jim

  3. albert john jewell says:

    Ref.: OUR CORRUPT LEGAL , BANK’s , ( & Government ) , systems need overhauling NOW .How can it be done ? (problem one ) Solution = IDENTIFY the corrupt person- By Name , By Status , BY Where They Work (OPERATE FROM ) & Most importantly WHERE They LIVE …..Surely it is equality in ARMS for US to obtain THEIR full details as for them to have OURS ??? ( OUT THE JUDGE ) a “We Victim’s Unite ” petition could assist US to ANONYMOUSLY gain secret access to these pertinent ,vital ,useful ,details . (problem two ) How to access these details ? Solution =” We Victim’s Unite ” will be well supplied by the many people who have endured ,without being able to VOICE their NON-acceptance of the way things are run NOW ! ( problem three ) How shall we USE the info. we get given ? Solution= Vigilante’s prepared to action can make their CHOICE’s . As they will be doing the WORK ,it would only be fair to them surely ? (problem four ) When shall we start sanctioning ? Solution =A.S.A.P or even sooner God Willing .( I have some lengths of rope in my garage right now – or when you are READY me Bonny Lad come & fetch them soon like . jim .

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