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

[leclerc]

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

Early Tweets indicate that the FSA press office believe that there will be a reserved judgement, ie we won't get the verdict today.

[Paul210]

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

Thanks, it was just that I understand Lord Panick had made that point, that it would hit the insurers, and, the establishment being the establishment, might well consider wider public interest issues like the economy etc, rather than the injustices of mis-sold PPI as such. If you know what i mean, although I'm not expressing it very well...

Fair point, the genreal concensus on the bank charges case was that the courts folded in view of the pressure having torepay might put on the already fragile banks, is possible could see similar decision here, we just have to hope that the banks have genreated enough ill will via massive proft announcements, refusing to lend & bonus' etc that the court will decide they can handle and indeed deserve to take a hit

[leclerc]

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

Fair point, the genreal concensus on the bank charges case was that the courts folded in view of the pressure having torepay might put on the already fragile banks, is possible could see similar decision here, we just have to hope that the banks have genreated enough ill will via massive proft announcements, refusing to lend & bonus' etc that the court will decide they can handle and indeed deserve to take a hit

All aspects of the case are based on the evidence given and not outside influence. If they make massive profit announcement then they will be long overshadowed by the massive axe in public sector jobs by the time the case ever gets to the Supreme Court(since the High Court decided twice against the banks).

[ncf355]

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

If ( I appreciate it won't happen) they were to pay out proactive ppi refunds as a matter of course (en masse, to all with similar details to where previous claims had been upheld) it would be a massive boost to the economy - most people receiving 2-3k in their pocket that they didn't expect are going to go and spend it (HDTV, holiday, etc) - imagine what a boost that would give to retail !

[leclerc]

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

If ( I appreciate it won't happen) they were to pay out proactive ppi refunds as a matter of course (en masse, to all with similar details to where previous claims had been upheld) it would be a massive boost to the economy - most people receiving 2-3k in their pocket that they didn't expect are going to go and spend it (HDTV, holiday, etc) - imagine what a boost that would give to retail !

To give an analogy of the bank charges cases, most people who got refunds paid off their debts first rather than spend it on luxuries that they didn't need or require. If they did act in this manner then it would be completely irrational and imho blind stupidity.

[Angry Cat]

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

If ( I appreciate it won't happen) they were to pay out proactive ppi refunds as a matter of course (en masse, to all with similar details to where previous claims had been upheld) it would be a massive boost to the economy - most people receiving 2-3k in their pocket that they didn't expect are going to go and spend it (HDTV, holiday, etc) - imagine what a boost that would give to retail !

Spend it or, reduce their debts!
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Early Tweets indicate that the FSA press office believe that there will be a reserved judgement, ie we won't get the verdict today.

To be expected, leclerc!

[Chip Tuesday]

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

I believe Tom Brennan is there for LB as well. I suspect we will find quite a lot of people there because today is the last day of the hearing so there might be a decision at the end of the day.

I'd love it if there was a decision by the end of the day Leclerc, but I don't think it will be. It is more usual for judges in judicial reviews to make their decisions away from the hearings and deliver it through written documents delivered to the parties, rather than as a verbal decision. Having said that as this is an "urgent" review the judge may be more willing to make his decision earlier.

CT

[Angry Cat]

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

It is more usual for judges in judicial reviews to make their decisions away from the hearings and deliver it through written documents delivered to the parties...
CT

After polititian's have whispered in their ears?

[leclerc]

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

After polititian's have whispered in their ears?

Which they clearly didn't whisper loud enough in two bank charges case.
Put down the paranoia.....it's not quite time to inject ourselves with it yet.....we have the Supreme Court for the funny handshakes

[s14lhp]

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

I'm becoming more confused with what the BBA are appealing here.

In short, can I ask the following:

What is it the BBA are appealing... i.e. That the FSA do not have the power to reinforce rules prior to their establishment?
If this is the case, why have cases post 2005 (after the FSA was formed) been placed on hold also?

If the BBA win the JR, does this mean that anyone who has been mis-sold the insurance pre or post 05 are unable to get their monies back?

[Chip Tuesday]

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

the banks have put claims on hold not as a matter of principle, but as a means of frustrating the system. If claims really were that detrimental institutions like Santander wouldn't still be handling them. It's just banks being too big for their boots really.

CT

[leclerc]

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

Mis sold insurance, why claim your mis sold PPI
Hate using CMC data but I think the list of companies fined include almost all of the companies within the Santander group. I doubt they had a case at all.

[Footynut]

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

If the Judge does not rule today, when are we likely to hear an outcome?? Next week, Next Month.....

[Chip Tuesday]

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

I'd say (guessing!) within a month. The judge is likely to give an estimated time frame for issuing his judgement if it is not resolved today. This was the case in the recent Keydata case which involved the FSCS (the FSA was also involved as an interested paty).

http://www.moneymarketing.co.uk/stor...ed&PageSize=10

CT

[Angry Cat]

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

Agree, CT.
We should hear in a few weeks.