Farepak customers not satisfied with pay-out
A pressure group representing customers who lost out when Christmas hamper business Farepak went belly-up are pushing for more compensation money from HBOS, Farepak's bankers.
A pressure group representing customers who lost out when Christmas hamper business Farepak went belly-up are pushing for more compensation money from HBOS, Farepak's bankers.
The Unfairpak group still has the hump over the hamper company collapse and is calling for HBOS, now part of Lloyds Banking, to double the £10m in compensation so far paid out to disgruntled customers who lost money when the company went bankrupt in 2006.
The group is set to take its case to Business Secretary Vince Cable this Wednesday.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Last week, Lloyds made an ex-gratia payment of £8m to Farepak customers, adding to the £2m HBOS paid out before the bank was taken over by Lloyds, after High Court judge Mr Justice Smith suggested it was the decent thing to do.
"It seems to me that what happened here, whilst apparently legally acceptable, might not be regarded in the public's eyes as being acceptable," the judge opined.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
