Hunger strike businessman 'hopeful' after meeting with bank bosses

A businessman who went on hunger strike to protest against the handling of his business loan repayments is hopeful'' of progress in his case after meeting Clydesdale Bank chief executive David Duffy. John Guidi had been camped outside the lender's headquarters in Glasgow since Sunday to campaign against Clydesdale Bank and Cerberus Capital Management with his case raised in the House of Commons this week.

The 63-year-old, who built a portfolio of around 150 properties in Scotland, blames the bank for changing the structure of his loans and selling his debt to American private equity firm Cerberus, which is said to have put his company into receivership.

Speaking after the meeting at the Leadenhall Building in London on Friday, Mr Guidi said he would continue his protest but would suspend the hunger strike.

Come March 29 I will review that situation, but I am hopeful that by that time we would have some form of progress, though this is totally in the hands of the bank,'' he said.

You must always have hope. Without hope you have nothing. You need to believe in the goodness of others, and I've put the bank in that position as well.''

On Tuesday SNP MP Angela Crawley urged the UK Government to enable an independent financial tribunal to resolve his dispute fairly.

She said: This tragic case brings to attention the vulnerability of UK businesses to the abusive treatment by lenders and vulture funds, and the inadequacy of the current regulation in preventing it.

Sadly, John is not alone. There are hundreds of people across the UK that had their tailored business loans sold by Clydesdale Bank to Cerberus Capital Management.''

Treasury minister John Glen said he would meet Ms Crawley to discuss her concerns and that he was taking the case very seriously''.