Lloyds HBOS.


Personal details


Business details
Key questions

Was your business put into administration? 

Have you contacted your MP?

Have you instructed a Solicitor?

Has your claim been independently verified?

Now please complete with 'Yes' or 'No' answers with all of these analytical research criteria in your case

Viable?  -  Was the business viable when Lloyds HBOS began investigating it for a move to restructuring?

Not Struggling?  -  Was the business not struggling in the short term?

Never returned to local?  -  After entering restructuring, did the business never come back to local Lloyds HBOS Management?

Orig. man. Barred? -  Was the original relationship manager barred from contacting the business again?

Asset heavy? - Was the business asset heavy? (this makes it a richer target for asset stripping)

Unable to move? -  Was the business unable to move to another bank because it was classed as distressed?

Under-market valuation? -  Did Lloyds HBOS (or partners) value assets at drastically below original or current market value?

Fire sale pressure? -  Was the business pressurised to accept a lower price in order to sell assets quickly?

Fire sale valuation w/out fire sale? -  Did the bank procure a ‘fire sale’ valuation, even though no valuation took place?

Desktop valuation? -  Did a ‘desktop valuation’ produce an asset valuation significantly below original or current market value?

Big Lloyds HBOS resale profit? -  Were assets sold later at significantly higher prices?

Lloyds HBOS close to valuers? -  Did the bank have a close relationship with the valuers?

Valuers at IBR firm or administrator? -  Did the valuers also act later as administrators?

LTV breached by devaluation? -  Did lower asset values drive down loan to value ratios and thus breach LTV convenants?

LTV changed? -  Was the LTV ratio changed?

Minor breach, transfer? -  Were minor covenant breaches (with no bearing on company performance) used to transfer the

business to restructuring?

Otherwise 'business as usual'? - Did the company otherwise see no adverse changes in profitability or turnover?

Payments up to date? -  Was the company up to date with their loan payments?

Breach/action permission reneged? -  Did the bank permit a covenant breach or another activity and then later use it to

move the business to restructuring?

Terms fait accomplli? -  Were facility terms changed and presented as a fait accompli?

No/inconsistent reasons for transfer? -  Did Lloyds HBOS fail to give or give inconsistent reasons why the business was being

moved to restructuring?

Unaware of transfer to restructuring at time? -  Was the business aware at the time that they were being transferred?

Restructuring misrep? -  'Restructuring' portrayed as there to help?

Fine for breaking covenants? -  Was the business fined on entry into restructuring for breaching their covenants?

Interest increased? -  Was the interest on loan increased?

Loan term decreased? -  Were the terms of loans decreased?

Overdraft/loans reduced/removed? -  Was the overdraft/loan facility drastically reduced/removed?

Balance demand? -  Did Lloyds HBOS demand the balance of loans at short notice?

Excessive IBR fees? -  Was the business charged excessive fees for internal Business Reviews (IBRs) delivered by outside companies?

Cash flow damage? -  Was the business cash flow seriously damaged by Lloyds HBOS actions?

No access to IBR? - Was the company not allowed to see the contents of IBRs?

Excessive fees for lending? -  Was the business charged excessive fees in order to continue borrowing?

Lloyds HBOS close to IBR firm? -  Did the bank have a long term relationship with the firm delivering the IBRs?

IBR firm as administrators? -  Did the firm carrying out the IBR later act as administrator?

PG? -  Did Lloyds HBOS demand (new) personal guarantees (PGs) from directors of the businesses?

Cash injection? -  Did Lloyds HBOS demand cash injections from the directors?

Misrep of PG/injections? -  Did Lloyds HBOS present cash injections or PGs as a means to return the business to good health?

Admin soon after PG/injection? -  Did Lloyds HBOS place the business in administration soon after a cash injection or PG?

Equity gap bridged by owners? -  Did the business owners have to bridge equity gaps themselves or seek outside

finance to meet other obligations?

Downsize/growth halted? -  Did the business have to downsize or limit growth due to reduced cash flow after Lloyds HBOS restrictions?

Constant complex RFIs? - Was the business repeatedly asked for complex information?

Facility contingent on RFIs? -  Was the continuation of the facility made contingent on timely compliance with information requests?

Stop supp. Payments? -  Was the business instructed by Lloyds HBOS to stop paying suppliers?

Stop HMRC payments? -  Was the business instructed by Lloyds HBOS to stop paying HMRC?

Fees precluded funds for creditors? -  Did bank fees during the business time in restructuring preclude any funds being available to other creditors during liquidation?

Lloyds HBOS asset purchase? - Did an associated division of Lloyds HBOS buy the property and resell it as a significant profit later?

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