Business

NI firms urged to register unresolved historical banking complaints

The BBRS has appealed to Northern Ireland-based firms to check if their unresolved banking disputes can be tackled.

A NEW not-for-profit, free dispute resolution service, the Business Banking Resolution Service (BBRS), has appealed to Northern Ireland-based firms to check if their unresolved banking disputes can be tackled.

It’s estimated around 16,000 SMEs in the north could qualify for the BBRS' independent, free specialist dispute resolution services, which covers current and past complaints, dating back to 2001.

The BBRS has urged larger SMES (£1m - £10m turnover) with outstanding banking disputes to contact them.

If the BBRS upholds a complaint, it can make a financial or non-financial award against a bank, up to £350,000 for historical cases and £600,000 for contemporary cases.

The process is overseen by Chief Adjudicator, Alexandra Marks, a deputy high court judge. Businesses going through the service are assigned a dispute resolution specialist.

Dirk Paterson, customer director at the BBRS, said: “We want as many businesses as possible - and directors of those no longer operating - to have the opportunity to use the BBRS’ service. This includes businesses, trusts and charities.

“We urge them to see if they qualify for our help and, if so, to register. If unsure, businesses can check online or contact us to find out more.”

Contact the BBRS (or arrange a call-back) via thebbrs.org/register.

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