There are several outstanding cases,so far as I’m aware. The original scam was for about quarter of a billion and LLOY have only paid out £100m in compensation so far and since attempted to mislead a select committee of M.P.s. They haven’t even addressed any indirect losses or damages, so far as I am aware.
I would think at least another £150m to come in compensation alone. If they can avoid any fines or paying damages it will be a typical miscarriage of justice.
They should also be landed with a load of victim’s legal bills after being caught out attempting to short change them. When in a hole, stop digging, springs to mind.
Sir Ross Cranston, a former high court judge who ran the independent inquiry into the scandal said the bank’s review of the fraud had “serious shortcomings” the most serious being Lloyds’ “approach to assessing direct and consequential loss caused by the criminal misconduct”. He also stated “This part of the customer review, both in structure and in implementation, was neither fair nor reasonable.”
Cranston also called for Lloyds to admit it gave MPs an inaccurate impression of the process used to settle claims back in 2018.
Lloyds said in a letter to the Treasury select committee that it apologised “unreservedly” for the mistake with the CEO saying , “Sir Ross has concluded that customers may not have received fair outcomes due to flaws in the review process. I am very sorry that this has happened. The group is committed to act on the recommendations made by Sir Ross, and will fully support giving customers the option of a voluntary re-review of direct and consequential losses.”
This was all last week. So far from over, I would suggest,