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UBS attempt to intimidate Occupy London supporters with questionable legal documents

 

Following the official opening of “public repossession” Bank of Ideas this weekend, bailed out Swiss bank UBS have delivered a set of legal papers to this already thriving community centre on the borders of the City.

Occupy London lawyers have placed doubt on the enforceability of the documents delivered by UBS, suggesting that they consitute a flagrant breach of civil procedure rules.

On Friday, the Bank of Ideas, a huge office complex of four interlinked buildings that had been left empty since 2009 was taken over by a group affiliated with Occupy London – campaigning for social and economic justice in the fight for global real democracy – in a move they described as a ‘public repossession’.

The centre was opened on Saturday morning as the ‘Bank of Ideas’, with activists promising to make space available for those that have lost their nurseries, community centres and youth clubs to Government spending cuts. The Bank of Ideas hosted a full events programme over the weekend, including the second day of the UK-Ireland Occupy Convention, a talk from trader Alessio Rastani and a packed gig by comedian Mark Thomas. [3]

On Friday, the investment bank posted papers relating to an injunction on the building, the validity of which is being formally challenged by the Bank of Ideas legal team. On Saturday, UBS left papers detailing a possession order on the building which were unsigned, unstamped and had no claim number.

Occupy London activist Helen Poplar said: “By hiring expensive lawyers to rush out questionable paperwork, UBS is trying to use their financial clout to scare us into abandoning a thriving community centre. It won’t work. Just because you’re a global investment bank in receipt of a $60bn bailout doesn’t mean you can short-circuit the proper legal process.”

Edward North added: “We’ve been totally overwhelmed with requests to use the space – we already have events penciled in up until the end of the year. Yet UBS, a bank whose reckless activities have cost us our community centres, youth clubs and libraries, would prefer that this building remains empty. If Cameron is serious about the Big Society, he would personally intervene to allow the Bank of Ideas to continue.”

UBS was one of the main beneficiaries of shared appreciation mortgages, sold to older homeowners in the UK through the late 90s, which have left many British pensioners in poverty as house prices rose and their equity declined. Unlike Barclays, UBS never launched any kind of rescue package to help those pensioners who suddenly found themselves unable to move to more suitable accommodation or to be closer to family members after a lifetime of paying the bills. [4]

 

18 Responses to “UBS attempt to intimidate Occupy London supporters with questionable legal documents”

  1. Keep up dear citizens of earth. You have the rights, and we will fight for them. Great work developing a space for people in need. This is our future. Make it look nice and proper, and organize it well, so that no one will be able to level the low level claims of “health concerns” and “safety” they’ve been using against us here in the states. (i.e: http://thinkprogress.org/special/2011/11/20/372807/freezing-free-speech-winter-tents-are-contraband-for-occupy-boston/) Bless you all on your work.

     
  2. I wonder if the UBS reps felt like Martin Luther, or like a boy with a paper bag of dog poop. My money’s on the poop.

     
  3. You are a sad, pathetic bunch of individuals, who seem to think they can ride rough shod over everyone. You represent a tiny minority, yet wish to impose your views on the majority. The world that you wish to impose on the rest of us, is totally unacceptable to the majority, that’s why the media, and everyone else is ignoring you!

     
    • Billy, don’t even try. If you don’t agree with this so called 99%, your selfish or uninformed. That is the only come back they have.

       
      • You reckon the system we have is acceptable to the majority then Billy?

         
  4. Perhaps it’s time to focus on why UBS wants that building.

    http://www.guardian.co.uk/uk/2011/nov/16/city-london-corporation-fresh-questions

    http://www.investoo.co.uk/ubs-may-move-investment-bank-hq-to-london/

    City of London. Corruption. Conflct of interests. Tax evasion.

    I’m surprised this wasn’t cited as a reason upon occupation.

     
  5. Fantastic. Big hugs and love folks!

     
  6. If a jiant like UBS claims it is illegal to occupy it’s empty building (bailed out by taxpayers money) for public service, shouldn’t it be made illegal for UBS and other financial institutions to occupy citizen’s homes, in the name of “REPOSSESSION”?

     
  7. Just Human. Of course not. The taking over of the unused UBS building is illegal, respossessions as result of unpaid mortgages are not.

    This kind of comment really does not strengthen Occupy LSX image as a well informed legimate protest.

     
    • You’re right, it is illegal. But this is questioning the illegality, and who benefits from it. It still highlights who the system works for- and it isn’t ‘the people’.

       
    • Paddy,
      My comment you refer to was more of a symbolic nature. I believe everyone wants to live in a civilised society with a just system for everyone, and I am in support of it. This is probably why we have lived by the books for such a long time. However, I feel that the current justice system does not represent everyone’s equality in the way everyone deserves. The real law has been replaced with thousands of statutes and regulations, which seem to be leading to only more confusions and unfair trials.
      It also feels that many rights and the wealth created by the people have been severely undermined.
      You may be aware of the fact that most repossessions were the result of recession caused by the big financial institutions which are expanding their wealth at the expense of the public.
      The public seem to have lost trust in their representatives who show no responsibility towards their faith.

       
      • Your comment was symbolic but also attention seeking (hence your use of in the name of “REPOSSESSION”?) rather than dealing in fact.
        “The real law has been replaced with thousands of statutes and regulations, which seem to be leading to only more confusions and unfair trials. – this does not mean anything, this is just waffle. What is this real law you speak of? Law is obviously complex but I fail to see how this leads to unfair trials.

        “It also feels that many rights and the wealth created by the people have been severely undermined.” – again does this mean? This is a very broad statement. I think the vast majority of people do not feel their rights are undermined. (whatever you mean by that)

        Repossesions were indeed as a result of the recession. Recessions have happened a number of times over years for varying reasons. However I do believe this is partially caused by society’s and individual demands for ‘consumer wealth’ and spending and borrowing above their means, people must take soem degree of personal responsibility. This is a society issue and not just the financial institutions. Perhaps people should prepare in the good times for the cyclical bad times.

        “The public seem to have lost trust in their representatives who show no responsibility towards their faith.” – What do you mean by representatives and faith?

        However one size does not fit all and everyone is not offered the same opportunities in life (i..e they cant save income in the good times to prepare for the bad). This is a problem with society as a whole in the UK and across the globe and not down to the financial institutions alone. Occupy camps will not change this, people are already aware of the macro social issues that exist and the problems they have created for society.

         
        • Paddy.
          I could write an essay on the questions you have raised but decided to make it short.

          I’ve noticed that you like scrutinising the meaning of the words or phrases.
          Maybe you should ask D.Cameron for some explanations, when the words he uses in his speech are not quite clear and see what happens.

          I’ve been doing some research on various topics for many months now, if not years, and my advise to you – “Please, do your homework!”

          Good luck!

           
  8. How dare a bunch of criminals attempt to use the legal system to frustrate the good intentions of the Bank of Ideas? You would have thought that shame alone would have made them stop and think, but I guess they neither can experience shame or have the brains to think.

     
  9. Quite apart from the fact that bank bail outs, a one-off event, have absolutely nothing to do with government spending cuts, UBS is not a UK bank and, as such, has not received a penny from UK tax payers.

     
    • Actually you are right that bank bail outs have nothing to do with government spending cuts because they are totally unnecessary. Our economy is not in the same difficulty as the Eurozone countries. We could be borrowing short term money to stimulate the economy at rock-bottom rates which would have pretty much zero effect on the long term debt we need to pay (which is still lower than times in the past that didn’t result in swingeing cutes). no the reason for the government spending cuts is ideology plain and simple. The Tories hate public services full stop. The millionaire cabinet imagine that they have so much money because they are more intelligent and more talented than the poorer members of society – they despise the 99%. They trade on pseudo-Darwinian ideas while turning our country in a neo-feudalist state.

       
  10. Monster – I do see what you are saying however mortgages are needed and the property is the security for the loan. So it has to be the case that a property is reposssed if the borrower cannot repay the loan they agreed to. Charging in to a property owned by UBS or whoever else is not on.

    I personally do not wish to live in a lawless society where peopel jsut take what they want.

    And what system are you talking about? All sounds very ‘stick it to’ the man”, to me.

     
  11. “If Cameron is serious about the Big Society, he would personally intervene to allow the Bank of Ideas to continue.”

    Indeedy! Prime Ministers should be careful what they wish for!!!

    Brilliant stuff – you so have the right approach – and the reasonableness thereof is indisputable – just plain, honest, clear, transparent dealing with what is in front of all our noses – all the attempts to oppose you fall flat on their face, because there is no hidden agenda, no spin, and you mean what you say! (And that has become a revolutionary act in our world today which is accustomed to a disingenuous public life.)

    God bless you and lorryloads of love and thanks for the stand you are taking and the wonderful inspiration you are. Here is Hope again – let the cynics be converted!

     

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