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

[EXC]

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

Update from FSA.

They are actually suggesting the use of CMCs to reclaim PPI.

http://www.fsa.gov.uk/Pages/consumer...se/index.shtml


Are there specialist companies available to help with my complaint?

The ombudsman service is designed to be straightforward to deal with and, regardless of whether your PPI complaint is upheld, is a free service to you. Separately, there are specialist claims management companies that can help you submit your complaint to the ombudsman service. However these firms will charge you for using their services. The Ministry of Justice’s website provides information on claims management companies if you are considering using one.

[Chip Tuesday]

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

Veeeery interesting....

All of the Counsel for the FSA as names above are members of Fountain Court Cambers (that is Michael Brindel QC, Richard Coleman and James McClelland). BUT Monica Carss-Frisk QC is a member of Blackstone Chambers, the same set of Chambers who are representing the BBA.

Do you guys think this could have any bearing on the outcome of the case?

CT

[di30]

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

For anyone who have claims within the FOS, Christmas closing and Opening times.

http://www.financial-ombudsman.org.u...s.html#opening

our opening hours over the festive season

• Friday 24 December 2010 – office closed
• Wednesday 29 to Friday 31 December 2010 – our normal opening times
• Monday 3 to Tuesday 4 January 2011 – office closed
• Wednesday 5 January 2010 – our normal opening times

[EXC]

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

The FLA (Finance & Leasing Association) claim to have been given consideration by the FSA to extend the implementation of the policy statement pending the Judicial Review on a firm by firm basis.

[pompeyfaith]

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

My PPI complaint is very almost won just to sent off the acceptance form, also got back £360 in charges on my current account.

http://www.legalbeagles.info/forums/...337#post189337

[di30]

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

:first::first:

My PPI complaint is very almost won just to sent off the acceptance form, also got back £360 in charges on my current account.

http://www.legalbeagles.info/forums/...337#post189337

That's great news PF, well done!

:okay:

[The Debt Star]

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

In theory the losing party could apply to appeal to the Court of Appeal and again to the Supreme Court and should that happen I reckon a final judgment in about 15 months. But I think a lot would depend on the strength of the initial judgment as to whether an appeal application would be granted.

Would this mean the banks having to pay out yet more interest on unresolved PPI claims?

[EXC]

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

Would this mean the banks having to pay out yet more interest on unresolved PPI claims?

Yes but what they'd lose in extra interest they'd probably make up for in other ways, not least by chewing up a chunk of limitations time.

Even if the banks lose the case I'd bet they'd make an overall gain as the publicity on stalling claims will put a lot of people off making complaints and from bothering with the Ombudsman.

[Chip Tuesday]

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

Happy New Year everyone, let's hope it's a good one

CT

[Chip Tuesday]

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

I've found an interesting article

http://ezinearticles.com/?An-Ill-Win...mer&id=5623703

An ill wind for British banks could mean a windfall for the consumer
By Brad C Martin

"It is estimated there is some £2.8bn worth of payment protection insurance currently in the UK. If even 50% of this has been missold whatever the outcome of the Judicial Review, the Regulator will have to force the banks to review all those missold cases at some point. Under what criteria the review them and what conditions will be imposed are yet to be decided. Whatever the outcome, a healthy windfall for the consumer is inevitable and yet more cash loss for the greedy British banks."

I'm interested as to how inevitable a review of missold cases is.

CT

[EXC]

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

I'm not sure that it's inevitable as the article suggests as so far the FSA are not forcing banks to review past sales that have not been complained about but rather asking the banks to use their own initiative to do so under principle 6 of Treating Customers Fairly.

However it still remains open to the FSA to force the banks to do so under section 404 of the Enterprise Act 'review of past business' but this would involve ''a number of significant prior process disciplines'':

''Section 404 provides for the establishment of schemes for reviewing past business where there is evidenced widespread or regular failure to comply with the FSA’s rules and consumers are either experiencing, or have the potential to suffer, loss. A scheme must be authorised by the Treasury following an application from the FSA outlining the alleged failure. Treasury authorisation is to be granted by way of Parliamentary order.''

If you do a word search of 's404' in the policy statement it is clear that they considered using it and don't appear to rule it out in the future.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

[di30]

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

A good family friend is having some issues now, this is in regards of both bank charges and ppi, he is dyslexic and never even knew what PPI was, but was always asked to sign documentation and was told it was essential, when going in to the bank he asked them to explain what this was and to read the policy out to them but they just said its something he requires.

Bear in mind he no longer works either due to a long term disability, with a disabling back problem which he have had for over 13 years, when he was working self employed he was signed up for by the bank for ppi.

Am looking into it for him, Turbo, Bill and Marshy may require your help soon on the calcs, cheers.
Just waiting for some details of SAR to come through now.

[EXC]

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

Just to say there will be no more court documents available to the public ie skeleton arguments, until the judgment.

As of yesterday a judge is yet to be appointed to hear the case.

[mids]

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

I wonder if Waksman is free?

[EXC]

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

Judge Waksman isn't among the judges nominated to sit on Administrative Court cases Information About - Administrative Court Administrative Court List