Important Customer Information


What has happened?

On 30 November 2008, the High Court made an Administration Order in relation to London Scottish Bank plc (‘LSB’) and Margaret Mills, Tom Jack, Simon Allport and Tom Burton were appointed as Joint Administrators. The application for an Administration Order was made by the Directors under the provisions of paragraph 12 of Schedule B1 to the Insolvency Act 1986. On 30 June 2013 Tom Burton was removed as Joint Administrator, due to his retirement from Ernst & Young LLP.

Also, on 3 December 2008, Tom Burton and Simon Allport were appointed as Joint Administrators to London Scottish Finance Limited (‘LSF’). The appointment was made by LSF’s directors pursuant to Paragraph 22(2) of Schedule B1 to the Insolvency Act 1986. On 17 June 2013 the court agreed to remove Tom Burton as Joint Administrator of LSF, due to his retirement from Ernst & Young LLP, and Tom Jack replaced him.

Please note that in accordance with a Court Order granted on 24 June 2016 (“the Order”), Thomas Andrew Jack was replaced as Joint Administrator by Samuel James Woodward, an Insolvency Practitioner licenced by The Institute of Chartered Accountants in England and Wales.

LSF Progress Reports

Further to our letter dated 29 December 2015, you can review the Joint Administrators December 2015 progress report by clicking on the link below:

LSF Progress Report December 2015

Further to our letter dated 30 June 2016, you can review the Joint Administrators June 2016 progress report by clicking on the link below:

LSF Progress Report June 2016

LSF Final Report

All matters in the Administration have now been completed and the Joint Administrators have prepared their final progress report to members and all known creditors.

Further to our letter of 31 October 2016, you can review the Joint Administrators’ final report by clicking on the link below:

LSF Final Report October 2016

Dividends

On the 29 December 2015 we wrote to all known creditors within the London Scottish group to give notice of an intended/proposed dividend, requesting submission of any outstanding Proof of Debts on or before 28 January 2016, being the last date for proving.

No further claims can be considered now that this date has passed.

The final dividend in the Administration of LSF was declared on 24 August 2016 and all creditors who had proved their debts were paid by the end of September 2016. If you have reason to believe you proved your debt but you have not received your dividend payment, please contact us as soon as possible using the contact details provided on our letter dated August 2016.

End of Administration

As noted above, all matters have now been completed and the Administrations of LSB and LSF (together, ‘the Companies’) have now ended and the Joint Administrators have ceased to act.

LSB and LSF have ceased to trade. The Companies are no longer authorised by the Prudential Regulation Authority (‘PRA’) and are no longer regulated by the PRA and the Financial Conduct Authority (‘FCA’), which took effect from 24 April 2015.

As a result of the end of the Administrations, we are no longer able to action any requests for information in respect of the Companies. This includes Data Subject Access Requests.

Court Order dated 26 January 2016

The Joint Administrators of London Scottish Finance Limited, had to apply to Court for directions in relation to certain credit balances that existed on their debt collector, Robinson Way Limited’s, system. As required by the Order, it is attached below.

Court Order dated 26 January 2016

Extension of the Administration

Due to the postponement of the final dividends, the Joint Administrators of LSF and LSB applied to Court for an extension of the Administration Orders, which were otherwise due to expire on 29 May 2016. The High Court of Justice, Chancery Division, granted an application by the Joint Administrators to extend the period of the Administration of LSB and that of its subsidiary, LSF, by two years to 29 May 2018. However, as the final dividends have now been paid and all outstanding matters in the Administrations have been concluded, the Administrations have now closed.

Court Order dated 20 April 2016


For further information on a specific area please click on the headings below:

- Deposits

Eligible depositors have received their money in full. If you believe you had a deposit with London Scottish Bank plc and you have not received a refund then you need to apply to the Financial Services Compensation Scheme (‘FSCS’) to receive your deposit. Further detail can be found on the FSCS website www.fscs.org.uk/consumer/ or by phoning 0800 678 1100 or 0207 741 4100.

- All secured and unsecured borrowers

If you are a customer with a residential, buy-to-let or commercial mortgage:

If you have been advised that your mortgage or secured loan has been transferred you should continue to make payments against your mortgage and direct any queries to Target on the following numbers (calls may be monitored and recorded for quality and training purposes):

0845 300 1732 If you have an account management query

0800 015 3572 If your account is in arrears

If you have not been notified of an account transfer then any balance outstanding on your loan has been unconditionally and irrevocably written off and accordingly no further payments need to be made by you in relation to your account. If you make payments by standing order you need to contact your bank to stop any further payments.

If you are a customer with an unsecured loan:

If you have not been notified of an account transfer then any balance outstanding on your loan has been unconditionally and irrevocably written off and accordingly no further payments need to be made by you in relation to your account. If you make payments by standing order you need to contact your bank to stop any further payments.

- Complaints

Information Requests

Please note that as the Joint Administrators have now ceased to act, the Companies can no longer deal with Data Protection Subject Access Requests, and we are unable to provide you with any information in relation to accounts you may have held with London Scottish.

PPI Complaint – Unsecured loan incepted prior to 14 January 2005

Please note the Financial Ombudsman Service (‘FOS’) has previously confirmed that LSF is not in the FOS’ jurisdiction and therefore it has no ability to require LSF to review PPI claims incepted prior to 14 January 2005. Recently, the FOS has investigated whether the company who provided the actual insurance, Cardif Pinnacle (‘CP’), was in jurisdiction to review PPI claims incepted prior to 14 January 2005. We were advised that the FOS had decided that CP is not in jurisdiction in respect of one specific LSF customer’s complaint. However, as the circumstances upon which the FOS relied in considering this complaint are essentially replicated in all sales of PPI by London Scottish, we consider it highly likely that the FOS would determine that CP are also not obliged to consider other complaints by LSF customers.

Whilst LSF is also not in jurisdiction, the Joint Administrators decided, in light of FOS’ decision, to review PPI claims relating to unsecured loans incepted prior to 14 January 2005 and, where claims were upheld and proof of debt forms were received, to admit claims for dividend purposes. The last date for proving claims and submitting Proof of Debt forms in the Administration of LSF was 28 January 2016 and final dividends were paid by September 2016 to those creditors whose claims had been admitted. No further claims can be considered, therefore please do not forward any paperwork to us.

PPI Complaint – Unsecured loan incepted from 14 January 2005

Where the unsecured loan was incepted from 14 January 2005 onwards, which was the date the Financial Services Authority took on responsibility for regulating the selling of general insurance and the introduction of the Insurance Conduct of Business, you will need to forward your complaint to the Financial Services Compensation Scheme (‘FSCS’) to address.

The FSCS can be contacted at Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, by telephone on 0800 678 1100 or 0207 741 4100 or by email via enquiries@fscs.org.uk.

However, please note that as the Joint Administrators have ceased to act, we are unable to supply any information or documentation in relation to your loan which the FSCS may require. As such, you should make any complaint to the FSCS on the basis of information and documentation you already hold.

PPI Complaint – Secured loan

Where you have been notified by letter that your secured loan account has been sold to Britannica II S.à r.l., acting in the name and on behalf of its compartment Templeton (‘Templeton’), you will need to forward your PPI complaint to Target Servicing Limited, PO Box 903, Newport, NP20 9NR.

Where the secured loan has not been sold to Templeton, please follow the processes for PPI Complaint for unsecured loans, as above.

PPI Complaint - Mortgages

If the account relates to a mortgage (i.e. not a secured loan and where the account number is in the format 117xxxxxx), no PPI was sold with any mortgage funded by LSB. All mortgages would have been sold via a broker and no information is held by LSB to determine if PPI was sold separately by the broker in these cases. As such, you should contact the broker involved in the sale of the mortgage.

Non PPI Complaint - Accounts sold to Templeton

Where you have been notified by letter that your mortgage account or secured loan has been sold to Templeton, you will need to forward your complaint to Target Servicing Limited, PO Box 903, Newport, NP20 9NR.

Non PPI Complaint – All other accounts

The last date for proving claims and submitting Proof of Debt forms in the Administrations of LSB and LSF was 28 January 2016 and final dividends were paid by September 2016 to all creditors whose claims had been admitted. No further claims can be considered, therefore please do not forward any Proof of Debt forms or documentation in support of claims to the Joint Administrators.


M E Mills, S J Woodward and S Allport
former Joint Administrators of LSB

S Allport, and S Woodward
former Joint Administrators of LSF