Member Info for 67Sam

AMGenerousDerby

Yes, this is the Lloyds board. It's not like other boards. We are a bit spoiled on the CBG board where posts are usually on topic and well crafted. I did post here earlier that I thought a disastrous Supreme Court decision on Friday that fully upheld the CoA ruling, would cost Lloyds about £6 Billion.

The one response I had back thought that was fine and the SP would fly if it was just £6 Billion. Clearly I am being over pessimistic compared to the wisdom of crowds. Do come back if you want politics and bollatics all day long, every day. I regard it as a bit like old men playing dominoes telling each other the same jokes, but never tiring of it as its the best thing they ever do. Now and again you do get some excellent investment advice, really excellent and Hardup does a sterling job as buyback monitor.

Are you holding Lloyds through Fridays announcement? Im tempted to sell before hand, but I want the dividend and figure these particular troubled waters will smooth over in a year or so. Lloyds definitely makes a shed load of cash. And after all, it may not be a total disaster day on Friday.

Bloom

"The judgement could be a pleasant surprise"

What would that look like to you? I think a complete overturn of the CoA ruling is extremely unlikely. I suspect even with a partial overturn we will still see a Lloyds’ liability at £2-4 billion. My opinion (is all it is) - if we see a completely upheld CoA judgement it will be nearer £6 Billion.

STP you are missing the point.

"potential negative consequences"

There's nothing potential about it. It's either bad, really bad or disastrous.

A1

" often find the 'fear of the unknown' is more damaging"

True. I just worry that the judgement will only provide certainty over the appeal outcome. It's up to Lloyds to scope the bill and I worry that it will just go on and on and on and on, like PPI did.

A1

"Might we see the SP rise in anticipation of the SC ruling??"

Looking like the opposite for lloyds so far, although CBG looks more buoyant. Its anyones guess. But since the Reeves rumour on Friday, I've had a bad feeling about the SC judgement. I'll just have to sell up or go into denial for a few months.

"" I've known it all the time, you're learning it these days"

C'mon Chid, You're a big girl now. Lloyds hit 80p and maintained a new high today. Theres nothing shabby about selling at that price. I'd still double my money, even if it opens lower on Monday. Then I can pay a mahoosive lump sum off my mortgage. Wake up. You are perpetually doom stricken.

I think Dylan's a genius, seeing as you're bringing him in to this.

Derby

"I will be keeping my eye on that at this time next week"

Bit off topic for CBG board, but bear in mind Lloyds also goes ex div on 31st July so would expect a drop on 1st August anyway of c.1.22p. On the Dow Jones each single Lloyds ADR share is equivalent to 4 x LBG FTSE 100 shares. I had thought I would sell half of my Lloyds before the ruling to mitigate my potential loss, but I'm still undecided. I don't hold anywhere near as much CBG and I bought them for £2.20, I'm so quite happy to take my chances with those. Reeves getting ready to intervene has unnerved me today. Yes, it might limit the damage, but the leak suggests the SC are going to give a total pro-consumer judgement. If they do it's going to hurt.

Driven01

"Is this definitely the next possible date the Supreme Court can deliver their verdict - Oct 7th?"

You have your answer now - 4.35pm August 1st in Court 1.

I will be one of many watching the live stream. LBG will still be being traded in the States giving some early indications of market reaction.

4.35PM Friday because they want it after trading is closed. Gives me a bit of a lump in the throat but its good to have a date. Lloyds will still be traded in USA at that time.

Bigmj

"de-risked £250k at £4.60 today, these were bought for £2.20"

Very nice, well done.

The treasury commented "We want to see a balanced judgment that delivers compensation proportionate to losses that consumers have suffered and allows the motor finance sector to continue supporting millions of motorists to own vehicles" so the moderate option, which is what we all want for goodness sakes.

I assume its this news thats caused the spike upwards in CBG price - Lloyds also touched 80p this morning, which is extraordinary.

I think the Gov are very scared not just that people will find it much harder and more expensive to borrow money for a car - but also the "contagion will spread to other sectors" causing widespread panic. It would be lunacy for the SC to reach a pro-consumer judgement that totally upholds the CoA ruling.

What caught my eye the most in the Guardian article was the comment that "The judges are widely expected to reveal their decision next week" when the evidence on the SC website suggests it now wont be until October.

Https://www.msn.com/en-gb/money/other/rachel-reeves-could-intervene-in-44billion-car-finance-scandal-as-compensation-decision-looms/ar-AA1JgGVr

HardDown

"I’m a tight git with my money. Nobody loves fishing more than I. But, if a rod licence goes up to over £50 for 3 rods, they are going to lose anglers."

https://www.youtube.com/watch?v=V3RlWbzU8Hw

Drive

"definitely"

67Sam

"likely"

Means different things. SC goes into recess on 31st July and don't then usually hand down judgements as most people are on holiday. There are always exceptions though if the issue has substantial public interest. Whether the car scam does is a very subjective decision. There is no announcement of future judgement today and the new term starts Oct 1st, hence my comment a delay is likely.

Liberty2

"But thats subjective I guess"

Yes, you're right, it is subjective. I would love to get a result soon. Doesn't have quite the same impact as proroguing Parliament though.

HardDown

"Sam, update everyone at close of play.

🍿🙂👌"

Lloyds saw an early period of volatility following the release of interim results. In the first 30mins of trading the share price fell to 76.28p. This was followed by a steady climb throughout the morning, setting a new year high of 79.30p by 3pm. After US markets opened the price receded a little, while sustaining a solid 1% rise reaching 78.26p at close. In a moment of over excitement, Lloyds detractors on the LSE chat forum were calling 12p a share. They are best advised to sit down and drink some water and "have a bit of a rest dear".

Meanwhile the rest of the days commentary was dominated with political issues, chiefly migration, although a minority drew attention to the 15% increase in interim dividend payable. I thought seriously about selling at 79.26p, but I have to work for a living so didn't have time. On a related note, the car scam fiasco continues to be unresolved following the failure of the Supreme Court to announce they would hand down a judgement on the 30th July. This is likely to mean that investors now have to wait until October 1st which is the start of the Michaelmas term, to see any progress.

LIberty2

"I would expect the verdict next week, but its perfectly possible it does not come. It is also not unheard of for judgements to be given during recess - there is historical precedent for this in cases of great public interest."

To come during a recess would have to be a matter of great urgency and substantial public interest. I find it hard to imagine the car scam will qualify as such. I had been looking forward to the uncertainty being brought to an end. I am now wondering if we will hear anymore before the Michaelmas term starts on 1st October.

Https://www.theguardian.com/business/2025/jul/24/lloyds-boss-warns-reeves-against-hiking-taxes-on-banks-as-profits-rise

Looks set to be during August. Future judgements page has been updated at 11.00am this morning with judgements to be handed down on 30th July.

There is no mention of Hopcraft v Rand.

HardDown

Ok, I will do that👌