The story of the dispute between the two companies was first revealed last April in Mortgage Introducer with the news that Kensington had decided to take its mortgage processing in-house and away from Rossbank with whom it had three and half years of a five-year contract remaining.
Kensington said it had terminated the contract because of what the then director of marketing Alastair Pate called “Rossbank’s failure to rectify material breaches in its delivery of certain services under the agreement.” Rossbank hotly disputed the claim and have since attempted to recover money it believes is still owed to it.
According to Rossbank there is a pre-trail hearing set for June with a ten-day trail in the Queens Bench division of the High Court scheduled for October. Kieran Hedigan, CEO of Rossbank, would only comment as follows: “Kensington were wrong and they know it. This case is about business ethics and integrity.
“We have offered to open a dialogue with Kensington to find an amicable settlement but they won't even talk to us, so now we will let the judge do the talking for us.”
Kensington refused to comment on the story, except to say: “As the matter is currently subject to court proceedings we do not believe that it is appropriate to comment on Mr Hedigan’s statements.”
