| Case ID |
21694975-017c-4018-99e0-eea723aec19c |
| Body |
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| Case Number |
D-2741 of 2023 |
| Decision Date |
Nov 15, 2023 |
| Hearing Date |
Jun 14, 2022 |
| Decision |
The Supreme Court ruled that claimants can pursue claims related to payment protection insurance (PPI) policies against banks even beyond the standard six-year limitation period if the banks have deliberately concealed facts essential for the claim. In this case, the bank's failure to disclose its commission on the PPI policy constituted deliberate concealment. The Court held that while mere failure to disclose does not equate to deliberate concealment, the bank's actions were intentional, allowing the claimant to extend the time limit for her claim under the Limitation Act 1980. The appeal by the bank was dismissed, thereby affirming the lower court's ruling in favor of the claimant. |
| Summary |
This Supreme Court case addresses significant issues regarding the limitation period for claims against banks concerning payment protection insurance (PPI) policies. The ruling clarifies that if a bank deliberately conceals relevant facts, the six-year limitation period for claims can be extended. The Court emphasized that the term 'deliberate concealment' implies an intentional effort to keep information secret, which in this case was the undisclosed commission received by the bank from the PPI policy. This decision is crucial for consumers seeking redress against unfair banking practices and reinforces the importance of transparency in financial agreements. The case highlights the evolving landscape of consumer protection laws and the necessity for financial institutions to uphold ethical standards in their dealings with clients. |
| Court |
Supreme Court of UK
|
| Entities Involved |
Not available
|
| Judges |
Lord Reed,
Lord Hodge,
Lord Kitchin,
Lord Sales,
Lord Lloyd-Jones
|
| Lawyers |
Charles Kimmins KC,
Sean Snook,
Fiona Whiteside,
Robert Weir KC,
Jonathan Butters
|
| Petitioners |
CANADA SQUARE OPERATIONS LTD
|
| Respondents |
POTTER
|
| Citations |
2024 SLD 2738,
2024 SCMR 369
|
| Other Citations |
AIC Ltd v ITS Testing Services (UK) Ltd [2006] EWCA Civ 1601,
Cave v Robinson Jarvis & Rolf [2002] UKHL 18,
Grace v Black Horse Ltd [2014] EWCA Civ 1413,
Primeo Fund v Bank of Bermuda (Cayman) Ltd [2019] CICA JO613-1
|
| Laws Involved |
Limitation Act 1980,
Consumer Credit Act 1974
|
| Sections |
32(1)(b),
32(2),
140A
|