Chancellor exploring route to overturn impending ruling on motor finance

Supreme Court judgement on motor finance case comes Friday 1 August

The Motor Finance Supreme Court judgment will be handed down on Friday 1 August. Appeals were heard on Johnson v FirstRand Bank Limited, Wrench v FirstRand Bank Limited and Hopcraft v Close Brothers. The Financial Conduct Authority (FCA) and the National Franchised Dealers Association (NFDA) were listed as interveners in the case. It was revealed in February that the NFDA would be able to intervene. The upcoming Supreme Court ruling could trigge…

Chancellor exploring route to overturn impending ruling on motor finance

The Chancellor is considering overruling the impending Supreme Court verdict on the motor finance scandal if it rules in favour of the lenders, after the Treasury failed to intervene in the landmark case. According to The Guardian, Treasury officials have been discussing the feasibility of overturning the Supreme Court’s decision with the Ministry of Justice and the Department for Business, Energy, and Industrial Strategy. If the Supreme Court s…