PPI Reclaim on disolved Company

4Jaffa · 16 May 2013 at 3:30PM

Hi,
Can anyone help? We had a business a few years ago and to get our business loan Lloyds insisted we have PPI to secure the loan. The company was disolved and the loan plus PPI payment paid off as I was a personal guarantor for the loan.

I have dug out the old policy and submitted a claim and they are refusing it because:
"only parties to a contract have any rights arising out of that contract, including the right to bring a redress claim against one of the other parties.
As the company has been dissolved and has no authorised directors or other officers it is not clear how either the company or anyone else has the necessary legal standing to bring this claim against the bank"

So LLoyds are refusing to pay not because they deny mis-selling but because the company was dissolved. This sticks in the craw a bit as at the time LLoyds imposed some very high penalties and charges on the business at every available opportunity.
Can I do anything about this or do I just have to accept it?
Hope someone can offer advice
Thanks

dunstonh · 16 May 2013 at 3:43PM

Lloyds response is correct. The legal owner has to complain. As there is no longer a legal owner, a complaint cannot be raised. (and even if they accepted it and upheld the complaint and paid it, it would be paid to the company. That would then require reactivation of the company and all the costs that go along with that).