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Judgment holds that c5,000 motor finance claims against various defendants meet the 'convenience' test in CPR r.7.3. The Court of Appeal has dismissed an appeal by various lender Defendants against a High Court decision permitting c5,000 motor finance claims to proceed by way of multi-party ‘omnibus’ claim forms. While this is a case management decision specific to its facts, it will nonetheless be of interest to parties engaged in similar disputes.
The wait for the FCA’s final rules continues, but there is finally a glimmer of light at the end of the tunnel. The regulator has now indicated that the final rules are expected in late March, offering some shortterm clarity and, no doubt, welcome relief for anyone hoping to make plans this weekend without refreshing the FCA website every five minutes.
The judgment addressed the three conjoined appeals of , and and provided guidance on the duties owed by car dealers when arranging finance for retail customers, while reinforcing well-established principles on the approach to determining claims of “ ” brought under s.140A of the Consumer Credit Act 1974 (CCA). In a decision that will be welcomed by lenders, the Supreme Court determined that no fiduciary or disinterested duty arises in a dealer-lender-customer car finance arrangement.
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