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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