Statement by Coin Group re Litigation Settlement with Lloyds Bank Plc
LLOYDS BANK – INTEREST RATE HEDGING PRODUCT (IRHP) MIS-SELLING £4.6 MILLION GBP LITIGATION SETTLEMENT WITH SME CARE HOME LONDON, UK – Lloyds Bank Plc (LLOY.L) has settled a High…
LLOYDS BANK – INTEREST RATE HEDGING PRODUCT (IRHP) MIS-SELLING £4.6 MILLION GBP LITIGATION SETTLEMENT WITH SME CARE HOME LONDON, UK – Lloyds Bank Plc (LLOY.L) has settled a High…
Holmcroft Properties Limited v KPMG (Daily Telegraph, April 25, 2015, Business 33). Holmcroft wins permission to bring a judicial review against KPMG’s conclusion that the redress offered in the redress…
The House of Commons Treasury Committee has today (10 March) published its report on Conduct and competition in SME lending. This report covers bank mis-sold interest rate derivatives,…
The Financial Conduct Authority’s confidential agreement with several major banks, which set up the Interest Rate Hedging Product (IRHP) Review, was published today. The Treasury Select Committee has also…
The Times’ City Editor, Harry Wilson, one of the journalists that three years ago broke the news of interest rate derivatives mis-selling by the major banks, reports today…
HMRC has distributed tax advice leaflets for banks to hand to customers receiving redress from mis-sold Interest Rate Hedging Products (IRHP), urging correct tax return reporting. Affected banks must review sales since 2001 under FCA supervision, leading to customer compensation. Redress payments, consisting of basic redress, 8% compensatory interest, and consequential losses, are generally taxable income or subject to capital gains tax. Individuals should account for tax deducted from interest. HMRC recommends consulting an accountant for complex scenarios.
The Royal Bank of Scotland has today published Clifford Chance’s review of the central allegation made against the bank in the damning Tomlinson Report written by Dr Tomlinson, commissioned…
Following the publication of the government commissioned Tomlinson Report by Lawrence Tomlinson, the Financial Conduct Authority (“FCA”) have ordered a formal investigation into allegations that RBS systematically defrauded…
Entrepreneur in residence at the BIS, Dr Lawrence Tomlinson, has today published an explosive report which accuses many of Britain’s banks of ‘heavy handed profiteering and abhorrent behaviour.’…
LEXLAW have recently advised and given expert comment to BBC Panorama in order expose, on behalf of our SME clients, the banks who mis-sold. The programme will expose…