The British Bankers' Association (BBA) have lost a judicial review against the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) over the handling of payment protection insurance (PPI) claims and the regulations on how they should be sold.
The case was brought about due to excessive numbers of people complaining to the FSA and FOS about their PPI and the way British banks were mis-selling them and rejecting many claims. It has been reported that at least £4.5 billion was riding on the decision.
Russell-Cooke acted on behalf of the FOS.
The banks have until 10th May to appeal the judgement.
Senior Partner John Gould led the Russell-Cooke team (including Delme Griffiths and Louise Green); instructing Hodge Malek QC and James Strachan of 4/5 Gray's Inn Square.
This case has received much national media coverage including as the lead item in most national broadcast news bulletins. More general information is available at: