Barclays Unit Sued Over Missold Timeshare Loans

By Joanne Faulkner (November 24, 2020, 10:26 PM GMT) -- Barclays' consumer credit arm is being sued at the High Court by 16 holidaymakers seeking to block the bank from collecting on timeshare loans that were allegedly improperly sold to vulnerable customers in high-pressure sales pitches that misrepresented the value of their investments.

Clydesdale Financial Services, which trades as Barclays Partner Finance, should repay interest charged on loans issued by timeshare operators Azure Resorts and Resort Properties, the claimants say in a Nov. 19 court filing. Barclays should also be banned from charging future interest and prevented from taking any action to enforce the terms of the loan agreement, the claimants...

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