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.
Subscribe to 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
Sign up for MoneyWeek's newsletters
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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published