Latest Update on PPI Judicial Review - NO APPEAL - get your claims in......

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Writing is now clearly appearing on the walls, the biggest charlatans of the lot, Lloyds are now trying on the next big con.

Nowhere in the report to shareholders has Horatio stated they are definately paying out and pulling out of any appeal... yet to "reporters" "who report to the masses" he is saying otherwise.

Trust me, the BBA are appealing, so this is Lloyds stealing a march on HSBC & Barclays.

They may have made a provision in principle, but on the other hand are telling claimants they will wait for the appeal before paying out.

Defies belief.

[Paul210]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds TSB are a disgrace. Don't understand what they're playing at. Please can someone tell me when we should hear about the appeal? Is it expected next week?

Any appeal has to be lodged by end of next tuesday

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

good point, if the decision had been made this week not to appeal then surely this statment need not have been made, a provision in the accounts by itself would have been sufficient.

spot on

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds TSB are a disgrace. Don't understand what they're playing at. Please can someone tell me when we should hear about the appeal? Is it expected next week?

Lloyds are not part of the appeal so when the appeal is will be irrelevant to LloydsTSB

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds TSB are a disgrace. Don't understand what they're playing at. Please can someone tell me when we should hear about the appeal? Is it expected next week?

Imminent!

[Paul210]

Re: Latest updates on PPI Judicial Review and claims on hold

That Lloyds have now said that they will ''no longer be participating in the BBA's judicial review'' it suggests that there may still a Judicial Review to participate in

good point, if the decision had been made this week not to appeal then surely this statment need not have been made, a provision in the accounts by itself would have been sufficient.

[morpheus]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds TSB are a disgrace. Don't understand what they're playing at. Please can someone tell me when we should hear about the appeal? Is it expected next week?

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

Exc,

In your opinion will this anouncement have any effect on the JR appeal, will it make the Judgment stronger?

Do you think with one of the major banks pulling out it will force the rest to rethink its stratagy going forward.

Lloyds Banking Group must of consulted with the BBA on there move so it must weaken the BBA's arguments.

Just trying to figure the bigger picture on all this.

IMHO it can only have a negative effect on the JR Appeal. Although no specific bank or banks are party to the case, as the action was bought by a trade association, Lloyds always had the biggest liability if the case was lost - and therefore must have been the leading driver of the BBA's Judicial Review action.

That doesn't mean to say that the BBA will now not appeal. For instance Barclays were alone in mounting a legal challenge to the Competition Commision's decision in banning PPI at the point-of-sale. That Lloyds have now said that they will ''no longer be participating in the BBA's judicial review'' it suggests that there may still a Judicial Review to participate in

I'd say it's 50-50 as to whether the BBA will appeal.

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Indeed as that is worse than challenging the judgment either they are pulling out and going by the new rules or they are not and awaiting the appeal.

Seems they want both sides of the coin.

Seems very convieniant, appear to the masses as you are now on their side, but on the snide you are still sticking the sword in.

This just won't wash.

They will make a bigger rod for their backs, stupid barstewards.

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

DISGRACEFUL

Indeed as that is worse than challenging the judgment either they are pulling out and going by the new rules or they are not and awaiting the appeal.

Seems they want both sides of the coin.

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds have just confirmed verbally to me that cases remain on hold despite recent announcement, they state they want clarification on the rules which can only be determined in any appeal/further action by BBA.

DISGRACEFUL

[leclerc]

Re: Latest updates on PPI Judicial Review and claims on hold

thanks leclerc

amazing... an honest banker with integrity... more power to him.

He was formally with Santander and we have seen in the media that Banks are mainly focusing on customer service(yeah, right!!) and if PPI is dealt with then perhaps they can properly focus on this. After all, am not sure if we have any more sticks left to beat them with.

[Paul210]

Re: Latest updates on PPI Judicial Review and claims on hold

Lloyds have just confirmed verbally to me that cases remain on hold despite recent announcement, they state they want clarification on the rules which can only be determined in any appeal/further action by BBA.

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

UPDATE 3-Lloyds takes $5.3 bln hit for insurance mis-selling - Finance News - London South East



"We will no longer be participating in the BBA's judicial review. We do not want to continue a long-standing debate of this with the regulator,' chief executive Antonio Horta-Osorio told reporters.

thanks leclerc

amazing... an honest banker with integrity... more power to him.

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Hope its good news but dont thint makes any difference as they have to make this provision legally for their accounts to be signed off. They would have to make a provision even if they won the last round in case the fsa appealed and the banks lost

QCK

Correct, which is why I am sceptical of this "provision".. it is just that a provision... which means it may or may not be used.