Tag: HBOS

lloyds hbos fraud scheme review compensation high court litigation

APPG complaint to SRA against Lloyds’ legal advisers Herbert Smith Freehills in HBOS review scheme

The All-Party Parliamentary Group (“APPG”) have submitted a lengthy complaint to the SRA against Herbert Smith Freehills, legal advisers to Lloyds Banking Group during the lender’s compensation review scheme in relation to fraud at HBOS. The scheme is due to reopen following Sir Ross Cranston’s report that Lloyds’ original customer review had ‘serious shortcomings’.

rbs grg claim solicitors financial mis selling irhps

Enterprise Finance Guarantee Mis-Selling & Royal Bank of Scotland EFG Review

RBS is reviewing past sales of 1,800 Enterprise Finance Guarantee (EFG) loans amid concerns that SMEs in financial distress were not properly informed of the risks. Many borrowers did not realise they remained liable for 100% of the loan despite the government’s 75% guarantee. Banks also often sought inappropriate personal guarantees and charges on primary homes.