Richard Ellison

I'm a partner in the Finance Insolvency Recoveries and Sales Team (FIRST) of dispute resolution. I specialise in all aspects of finance litigation and recoveries work, but act in particular for mortgage lenders and in general banking disputes.

Tel: +44 (0)121 210 5040

Email: richard_ellison@wragge.com

Best brains in…

Advising upon the enforceability of mortgage terms and conditions;
Dealing with claims against lenders arising from the Consumer Credit Act;
Ensuring a smooth running and proactive volume mortgage repossessions service.

Highlight of career so far

I was the lead partner in a team here acting for a mortgage lender in reported Court of Appeal cases (Paragon Finance plc –v- Nash & Staunton and Paragon Finance plc –v- Pender) which determined, among other issues:

That a mortgage lender is entitled to set its own interest rates irrespective of movements in the Bank of England Base Rate, so long as those decisions are not taken capriciously, arbitrarily, or in a way in which no reasonable lender would act; and

That amongst the factors the lender could take into account in reaching such decisions, were its own business needs.

These decisions are very relevant and helpful to lenders during any economic downturn.

Most challenging job ever done?

Being Team Leader of FIRST from the time we started with a team in single figures to what is now over 70 people.

Also the most rewarding job I have ever done!

What about outside the UK?

Helping HSBC to set up its Commercial Recoveries Team in Kolkata, India.

What's your definition of going the extra mile?

One of the team's most significant client wins, involved taking over a caseload being run by its previous law firm. I was the lead partner in a team that spent the best part of a week at the client's offices, working through vanloads of boxes of files as they arrived from the previous supplier, logging in all the case information and ensuring that we complied with every deadline. The project was completed successfully – and without missing a single key date – and the lender remains a key firm client today.

I should add that the client is based in the South East and so, at the time, we ended up on first name terms with most of the staff at the local Travel Lodge!

When have you ever given a client a competitive edge?

I spend a great deal of time out with these clients, making sure that we are up to date with what is happening in these businesses, and then disseminating that information across the relevant client service teams. The contribution to this work made by individual client service managers is invaluable.

What has been written or said about you that you're most proud of?

I was once described on a website set up for borrowers to pool resources to challenge mortgage lenders, as the 'Banks' Godfather'! Hopefully, from time to time, I can make borrowers an offer they cannot refuse!