Member Info for LIBERTY2

67Sam -

I am very much of the opinion that this matter qualifies on both of those requirements. But thats subjective I guess.

It has huge implications for the British economy / banking sector. It has huge knock on effects for wider industry. It has huge interest to the public due to the potentially huge sums that could be owed.

Time will tell!

Interesting that the case has been 'updated' today, 24th July, but I cannot see any update on the Case Log or the Status.

Perhaps filters through in a few hours, or its a back-office update which will not show on the public site.

On the matter of the Trinity Term - as noted this ends next Thursday 31st July. The last case to be heard in the SC is today. So they have next week to clear deck and provide verdicts.

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.

Yes it was listed

Future Judgements page has indeed been updated again as thought for a Wednesday ruling - but not for Hopcraft... its all part of the fun!

https://supremecourt.uk/news/future-judgment

Suggestion has already been tabled and yes its a plausible one.

Could be another Future Judgements update today for Wednesday.

I don’t see why the SC would not provide future notice of this verdict; its of great interest to the public.

But what do I know! We continue to head in a positive direction with continued developments. Time will tell.

Knot - my point on the Judgements page being that they are giving rulings on Tuesday - this is not standard practice, it is always (as far as I can see) Wednesday.

''UKSC judgments are handed down in person, in the Court, on Wednesdays at 9.45am. They are also live streamed via the UKSC website, so you can watch live or on demand. Details of forthcoming judgments will usually be announced here on Thursdays at 11am.''

I agree the LIBOR ruling is very significant, and gives an insight directly into the SCs mentality. Very good result.

Interestingly - the SC Future Judements page has been updated today, a day early, and has listed judgements for next Tuesday, again a day early.

Strange.

One may expect a significant ruling to be coming on Wednesday which they have blocked the day out for...

Future Judgements page tomorrow may be updated again.

https://supremecourt.uk/news/future-judgment

On the LIBOR case verdict today - full Supreme Court overturning of the Court of Appeal ruling on this matter. Very interesting indeed....

You guys are a laugh.

Enjoy your week folks.

Crystal ball question.

At early 30's, I am too young to remember, but are you not describing England in the 60's? Give or take a wonderful climate!

Maybe this is just rose tinted renditions of yesteryear from the older folk around me - it does look nice on tape though!

This is about as formal as it gets - I would think only in the most extreme matters (public unrest / political turmoil / war etc), would the SC go ahead and issue a 'surprise judgement' without adhering to the accepted notice period.

The notice period also serves as notice for the parties involved, as well as the public for transparency purposes.

The July suggestion was simply given as a finger in the air statement by the Court in April - as has been mentioned, various cases have come forward in the meantime which may contribute to a delay so that everything can be lined up. This is not a matter they want to get wrong... again.

Future Judgements updated - no listing for Hopcraft next week.

So - if the chap who previously suggested the 23rd for the verdict date is correct, the future judgements page below should be updated tomorrow. It seems as gooder time as any..

https://supremecourt.uk/news/future-judgment

The building wave of anti-regulation, anti-CMC, anti-compensation, pro-growth mentality continues from all sides of power.

‘Have you been mis-sold a no win no fee, car finance claim’ - can hear the radio ads already, hilarious.

Potential upside / downsides post ruling - the figure to keep in mind is price to book ratio here.

Today we are trading at 0.4x TNAV, meaning in very simplified terms there is a £900m cost priced into the SP.

CBG median over 10 years is 1.7x.

If there is a total overturn (possible), there will be a very aggressive rerating.

Partial overturn, who knows, I would finger in the air think we will be trading at £5-£6 within days / weeks.

The FCA will not go against the narrative of the SC in the case that they side with banks. One of the FCAs own arguments in court was that the CoA had overstepped.

On the topic of the changed FOS interest rate calculation - the likelihood is this will apply to the majority of claims to the FOS or under a potential FCA redress scheme for this matter.

There is a pause on banks obligation to respond to consumer complaints until 4th Dec 2025. Once they respond the consumer has to then take it to the FOS as a new case, which would run into 2026.

Any potential FCA compensation scheme would also be in 2026 at the earliest.

Basher - the widely agreed consensus is that the tort of bribery will not be found to be applicable to the relationship of a motor dealer and consumer, therefore rendering your concern redundant.

Bribery comes into this when a fiduciary duty exists, which is the element which will likely be removed.

As previously mentioned today; at the time of the Hopcraft deal, undisclosed ‘secret’ commission small enough to cause no impartiality issues (which in the case of Hopcraft would logically be found to be true) were accepted practices and acknowledged by the FCA / CONC.

Your concern could be found to be valid by the SC, time will tell.