News emerged today that Northamptonshire County Council which hit the headlines in February by declaring itself effectively bankrupt had been forced to file a second so-called section 114 Notice.
Commenting for Debt Resistance UK Joel Benjamin said:
“It’s absurd that a council that is now effectively bankrupt has not considered legal action against the various financial firms involved in mis-selling toxic financial products which have contributed to its downfall – including PFI contracts and LOBO loans.”
Last week it was announced the Hausfeld & Co lawyers were coordinating a no-win, no fee legal claim against Barclays bank in relation to LIBOR rigging and the mis-selling of LOBO Loans.
Serious questions must now be asked of a council administration that is not prepared to serve the interest of local taxpayers by joining a no win, no fee legal action to reclaim public funds from criminal banks.
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