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

[Chip Tuesday]

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

Brian Mairs of the BBA has been tweeting within the past 10 minuets... Is it just me, or shouldn't he be in court right about now...?

CT

[Paul210]

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

Brian Mairs of the BBA has been tweeting within the past 10 minuets... Is it just me, or shouldn't he be in court right about now...?

CT

Since when have the BBA ever done the right thing? hes probably bored by his own sides argument lol.

[Amethyst]

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

Not quite as busy in the court this afternoon but still standing room only. (Cig break update from EXC - things are still going on)

Pannick is still speaking so doesn't look as though there will be time for FSA and FOS to get much said.

The Judge is asking lots more questions and its getting more interesting (and Pannicks being more interesting apparently) with the ins outs whys and wherefores but it is complicated so will leave it to EXC to write something more in depth up later (or Tom tmw).

Will have a little bit more around 4.30/5pm.

Oh even if the application stage takes 3 days then it doesn't really matter as most of the arguments will be heard now whilst deciding on the applications and the substantive stage can get done in day or two.

[Amethyst]

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

Brian Mairs of the BBA has been tweeting within the past 10 minuets... Is it just me, or shouldn't he be in court right about now...?

CT

I think the Libor rates are autotwittered on the same account (Beagles twitter account posts up all new threads automatically)..... unless he has just got bored and gone for a coffee lol.

[Chip Tuesday]

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

Ahh, very true! I'm looking forward to seeing EXC's write-up of todays events.

CT

[Sapphire]

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

Ame I'd edit the spelling on this bit hun acocunt unless you're expressing you're feelings of course msl:

As always I'd like to thank Exc and Co for taking the time to go to London and report back for us.

[debtisbad]

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

Right, report back from RCJ at lunch break....

This morning has just been the BBA counsel - Lord Pannick QC - talking in a very monotone measured (slow) manner all morning. It looks unlikely that the FSA and the FOS will be able to put their case forwards today.

The case has attracted a lot of attention and it was lucky EXC and Tom got in, massivly long queues and the court room was absolutley packed.

Nnothing we dont already know has come up in the BBAs monologue so far except maybe some figures that in 2006 an estimated 6.5 million policies were sold annualyl making £5.4billion per annum !!!!!

The Judge has asked a few explanatory questions but otherwise the morning was just the BBA putting their case forwards.

Counsel for the FSA spoke only once, when the BBA described the FSA's new requirements as 'new rules' - FSA's counsel leapt to his feet and said quite markedly ''no new rules, they are evidential provisions ''.


The BBA put forwards that the FSA had estimated the new measures will cost a certain amount and the BBA refuted their estimates, indicating it would cost a lot more. Justice Crousley asked the BBA what evidence they have that it will make a material difference in liability, and BBA's counsel couldnt answer.

The BBA described the principles in the FSA policy statement, of which there are 11, as the '' ten commandments '' and there was some debate over the relationship of the principles and the ICOBS rules.

In the BBA's summurising their case at the end, tey had two main point. The Judge interjected on the second pointand said ''but doesnt this counter your first argument.''

Starts again at 2.05. Finishes around 4.30/5pm.

Eric leenders was in court. Not sure who else.

NICE WORK, AMETHYST. I AM FOLLOWING FROM TAIWAN. I ALREADY MANAGED TO GET BACK 1300 QUID IN PPI REFUNDS, BUT IT WAS LIKE PULLING TEETH. THE BBA SHOULD BE THOROUGHLY ASHAMED OF THEMSELVES, SUPPORTING AN INDUSTRY THAT RIPS OFF THE INNOCENT. KEEP UP THE GREAT REPORTING!

[Amethyst]

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

[quote=sapphire;193749]Ame I'd edit the spelling on this bit hun acocunt unless you're expressing you're feelings of course msl:

oopsy

As always I'd like to thank Exc and Co for taking the time to go to London and report back for us.

Hear hear

[Chip Tuesday]

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

Are EXC & Co up in London for the whole week or just for today?

CT

[Amethyst]

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

Pannick finished an hour before close of play. Flint (BBA QC) came on, spent an hour, going over same ground round in circles, the Judge looked a bit annoyed with repetitive nature of the case.

Flint another hour or so tmw then FSA/FOS get their turn.

One point claim against FOS as being out of time, and FOS decision was 2008, new argument why not out of time, FOS guidance published Nov 08 was the catalyst for policy statement by FSA published in Aug. Judge seems to think thats a bit tenuous.

FOS said they used principles since 2001, Judge asked why the BBA hadn't argued against that before now, and shockingly they didnt have an answer.

Anyways all closed for the day now, Exc's off for a Coke , and he'll be on later to fill in the big gaps lol. Tom's attending tmw and Friday so we should have most of it covered one way or t'other.

[Chip Tuesday]

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

excellent news, both in terms of us having people "on the ground" and the judge finding the BBA's FOS based arguments tenuous!

CT

[The Debt Star]

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

and the judge finding the BBA's FOS based arguments tenuous!

It aint over 'til the fat man sings

best not get too excited at this stage

[Chip Tuesday]

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

It aint over 'til the fat man sings

... Go Compaaaare?

[The Debt Star]

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

... Go Compaaaare?

something like that, yeah, only with a white wig and a hammer

[Amethyst]

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

indeed, Brindle, Malek and Fordham may well be excruciatingly dull