Close Brothers Gets Top Court Appeal of Motor Finance Ruling

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Fri, December 13, 2024

[ Fri, Dec 13th 2024 ]: Daily Express

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[ Fri, Dec 13th 2024 ]: The New York Times

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[ Fri, Dec 13th 2024 ]: The New Zealand Herald

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[ Fri, Dec 13th 2024 ]: Reuters

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[ Fri, Dec 13th 2024 ]: businesslive.co.za

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[ Thu, Dec 12th 2024 ]: NDTV

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[ Thu, Dec 12th 2024 ]: Indiatimes

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[ Wed, Dec 11th 2024 ]: The New Indian Express

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[ Wed, Dec 11th 2024 ]: The Victoria Advocate

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Shriram Finance completes sale of housing finance arm

[ Wed, Dec 11th 2024 ]: The New York Times

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[ Wed, Dec 11th 2024 ]: Newsweek

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[ Wed, Dec 11th 2024 ]: cnbctv18

Shriram Finance finalises ?3,929 crore stake sale in housing unit to Warburg Pincus

[ Wed, Dec 11th 2024 ]: AOL

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[ Wed, Dec 11th 2024 ]: Reuters

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[ Wed, Dec 11th 2024 ]: London Evening Standard

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[ Wed, Dec 11th 2024 ]: Business Standard

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[ Wed, Dec 11th 2024 ]: Fortune

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Close Brothers Gets Top Court Appeal of Motor Finance Ruling

//business-finance.news-articles.net/content/202 .. ts-top-court-appeal-of-motor-finance-ruling.html

Published in Business and Finance on Wednesday, December 11th 2024 at 16:41 GMT by Bloomberg L.P.
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The UK's Supreme Court agreed to hear a landmark appeal by motor finance companies early next year, sending shares of British lenders soaring.

- Click to Lock Slider

Close Brothers Group Plc has been granted permission to appeal a High Court ruling that could have significant implications for the UK motor finance industry. The ruling in question pertains to a case involving over 1,000 claims against the company for alleged undisclosed commission arrangements with car dealers, which could lead to substantial compensation payouts if upheld. The appeal, set to be heard in the Court of Appeal, aims to clarify the legal responsibilities of finance providers in disclosing such arrangements to customers. This development comes amidst growing scrutiny of the motor finance sector, with the Financial Conduct Authority (FCA) also examining similar practices. The outcome of this appeal could set a precedent for how such cases are handled in the future, potentially affecting numerous similar claims and the overall regulatory framework for motor finance in the UK.

Read the Full Bloomberg L.P. Article at:
[ https://www.bloomberg.com/news/articles/2024-12-11/close-brothers-granted-permission-to-appeal-motor-finance-ruling ]

N※N

Close Brothers Gets Top Court Appeal of Motor Finance Ruling