|
Close Brothers Group PLC - London-based merchant bank - Confirms the UK Supreme Court will announce its judgment in respect of the company’s appeal of the ‘Hopcraft’ motor finance commissions case next Friday after the close of trading. Close Brothers says that the parties will not receive a copy of the draft judgment in advance of publication and therefore does not know the outcome of the appeal. The appeal was heard in April. Close Brothers is challenging a Court of Appeal ruling from October last year, which found that ‘secret’ commission payments to car dealers as part of finance arrangements made before 2021 without the motorist’s fully informed consent, were unlawful. The court found that three motorists, who all bought their cars before 2021, had not been told either clearly enough or at all that the car dealers, acting as credit brokers, would receive a commission from the lenders for introducing business to them, and should receive compensation. Current stock price: 431.80 pence, up 5.0% in London on Friday 12-month change: down 16% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
