John Guidi CYBG Hunger Striker

John Guidi – Clydesdale Bank (CYBG PLC) – Hunger Striker

CYBG Hunger Striker – Statement – John Guidi – Clydesdale Bank (CYBG PLC) mis-selling victim – Why am I doing this?

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With a heavy heart, I have taken the decision to go on a hunger strike as from the 17th of March.

I then intend to go to Clydesdale/Virgin Money’s (CYBG) Head Office in St Vincent Place Glasgow and hand in a letter to David Duffy the CEO of the bank to explain the reasons for this dreadful act and why I believe in desperation I have to take this action, and to ask him as CEO of Clydesdale Bank/Virgin Money to intervene and to put a stop to the actions of Promontoria which are being carried out in his bank’s name.

My companies loans of £9.6 million was purportedly sold/transferred in what I believe is a secretive and highly questionable business agreement between both Clydesdale Bank and Cerberus /Promontoria; whereby the properties contained in the two residential portfolios I had were sold, and the proceeds of this sale used to pay off the loans and any profit from this sale was shared between them. This agreement is governed by a suite of documents so heavily redacted as to render them at best suspicious or in fact unlawful.

It is on this basis that a deal has been struck that has caused me to lose all my wealth, including my companies and my marital home.

At the age of 63 and entering into the last quarter of my life I find myself sequestrated and a bankrupt all based around this strategy by Clydesdale Bank which entered into an arrangement with Cerberus/Promontoria to sell or and transfer the commercial real estate loans which I had with this bank.

My Personal Guarantee (PG) that I had with Clydesdale Bank and given in good faith was called up by Cerberus/Promontoria in February 2016, and I was duly made bankrupt in July 2017. I use the phrase “Good Faith” as I feel the need to explain like many others in our group that I feel let down very badly by the Clydesdale Bank the government and the regulatory authorities in so far that when I took my loans with the bank and gave my PG I did so in the full knowledge that I was placing my full financial wellbeing in the hands of a company Clydesdale Bank ) which is regulated and governed by the FSA of 2012 and was therefore bound by its rules, regulations and code of conduct and whom I had a private business/banking relationship going back 15 years .

On the other hand, Promontoria who are conducting a campaign of relentless prosecution and persecution against me and my family do not hold any such regulatory licence regulation or oversight, and therefore this leaves me at their mercy with my only recourse being the courts.

Incidentally, it took Cerberus/ Promontoria only 4 months to put my companies out of business and this after the Clydesdale Bank said at the time of this sale in their literature that Cerberus/Promontoria were the” New Lender”.

This we now know to be a complete falsehood at no time did Cerberus/Promontoria enter into any discussion regarding lending facilities apart from asking for all of the loans to be repaid!

We now know the Clydesdale Bank have used Cerberus /Promontoria as a very elaborate and I would suggest expensive debt collector. You might ask why do this? Why get someone else to do your dirty work. It seems clear to me know that as the scandal surrounding the mis-selling of TBL’s loans continues to unfold and every day brings new information to light in the sale of these loans and how they have led to numerous businesses losing millions of pounds by a serious of measures carried on by the Clydesdale Bank and the parent company in Australia The National Bank (NAB), that one way to avoid this legacy of misconduct was to filter out the very loans and businesses which made up a substantial part of this very toxic issue.

This is a depressing analysis and one which bears out the past and possibly present malignant culture of this bank. This includes the parent’s company’s activities in Australia where both its chairmen and CEO have resigned in the past few weeks to the fine issued by the FCA on the Clydesdale Bank for its mistreatment of PPI customers to the tune of £20 odd million pounds. Has this bank changed I will be asking David Duffy in my letter exactly that.

Will he put a stop to this evil, pernicious activity of Promontoria, their henchmen in the form of, lawyers receivers, administrators surveyors and insolvency practitioners all in the name of Clydesdale Bank/Virgin Money?

Since December 2015 I have sought justice for myself and my family with limited means by way of the judicial system. This has been exhausting mentally, physically and financially. At the last count, I and my family are presently involved in five court actions and another two spent actions and the possibility of a further pending action, all in the space of two years and all with Promontoria or bodies to whom Promontoria are the main creditor.

But I am not alone.

In our CYBG Remediation Support Group there are 61 others with Cerberus activity and of course, they are acting as a result of other Banks actions too, such as RBS  – which we as UK taxpayers own. This MUST stop in a moratorium until fairness prevails.

These actions and that of the questionable sale of my debt leaves me with no alternative but to put myself in harm’s way.

This decision to go on hunger strike has left my family, and my friends worried my answer to them, and anyone who is listening is what else can I do?

Links:

Daily Mail / Mail on Sunday

UK Times

Daily Record

Daily Mirror

1. Letter to David Duffy from John Guidi – 8.03.2019

2. Letter to Treasury Select Committee Chair Nicky Morgan 12th March 2019, referring to 1. above

Letter to Heather Buchanan from John Guidi 14th March 2019