Lloyds refusing to refund commercial "insurance" charges since my business was dissolved in June '15

apm902

I am looking for legal advice/support for the following dispute:
I owned a business between 2002 and 2013 and banked with Lloyds. The business was forced to close in 2013 and was dissolved in June 2015. In September 2013, I resigned as director and asked a solicitor to draft a deed of assignment transferring all rights to me personally to maintain ownership of the brand I'd paid to register. I then used the brand name in my new company established March 2016. 

I was charged PPI by Lloyds for my business between 2002 and 2013, however they called it something different to PPI. We had no choice to pay it as I was told by the account manager that it was mandatory. The business had several financial products all being charged "insurance". I stated we didn't need it as we had stock we could sell to repay any debts but this was ignored.

In 2013 when the business was forced to close down after losing our main customer, I paid Lloyds for all their financial products by selling stock and the account was closed with a zero balance.

I have sent a PPI complaint into Lloyds before the August deadline last year but they refuse to deal with me. I believe they want me to re-instate the business but I have a deed of assignment from 2013 that shows that all rights and benefits were passed to me legally, but they ignore this. The FOS don't know if they can act on this matter and are totally unhelpful. 

I estimate by calculating the value of the several financial products we had from Lloyds (£92K overdraft, several £30K+ loans, factoring with limit of £180K) that I am due circa £250K in missold PPI but I don’t have the documents and Lloyds are refusing to send them to me.

Furthermore, after my business was forced to close, I couldn't afford my rent and I was made homeless for 6 months. Had I not been charged PPI, I would have been able to pay myself and afford rent. Therefore I believe I am due a considerable compensation payout.

Has anyone got any ideas how I can get some cooperation out of Lloyds? 

[Deleted User]

If the company no longer exists, it can't make a complaint.

What exactly did Lloyds response say? It should have been clear whether they were asking you to reinstate the business or not.

dunstonh

I was charged PPI by Lloyds for my business Mipi Limited between 2002 and 2013, however they called it something different to PPI. We had no choice to pay it as I was told by the account manager that it was mandatory.

It should be noted that businesses are often required to take out mandatory insurance for commercial borrowing and that is allowed.  Technically it is still allowed for personal customers but you rarely see it on that side nowadays.

I have sent a PPI complaint into Lloyds before the August deadline last year but they refuse to deal with me. 

That is correct.   Only the legal entity can make the complaint and you are not the legal entity or responsible for the legal entity.   If the business closes, then an ex director cannot act on behalf of that business.

I believe they want me to re-instate the business but I have a deed of assignment from 2013 that shows that all rights and benefits were passed to me legally, but they ignore this.

The deed of assignment doesnt apply to this.

The FOS don't know if they can act on this matter and are totally unhelpful. 

The FOS are not free-of-charge solicitors you can call on like this.   In issues of law you need to use a solicitor.

I estimate by calculating the value of the several financial products we had from Lloyds (£92K overdraft, several £30K+ loans, factoring with limit of £180K) that I am due circa £250K in missold PPI but I don’t have the documents and Lloyds are refusing to send them to me.

If you are that confident, then reopen the business and pay all the costs that go along with that.  However, there is still the possibility that Lloyds will refuse the complaint. £250k of PPI premiums would be a record by a long way.  So, it does seem unlikely.

Furthermore, after my business was forced to close, I couldn't afford my rent and I was made homeless for 6 months. Had I not been charged PPI, I would have been able to pay myself and afford rent.

You are as a business and you as an individual are two different things.   So, that is irrelevant.

Has anyone got any ideas how I can get some cooperation out of Lloyds? 

The business needs to be reinstated.  Or if you think Lloyds are not complying with the law, then you engage a solicitor.

apm902

Deleted_User said:

If the company no longer exists, it can't make a complaint.

What exactly did Lloyds response say? It should have been clear whether they were asking you to reinstate the business or not.

They've said I'd need to reinstate the business, but that they would need me to prove the "insurance" charges by producing a contract which I don't have and they refuse to provide. I dont know how I could mandate the bank to send me the commercial contracts. Frustratingly, they've sent me all of the other information from the business account except the commercial contracts and refuse to do so. 

apm902

dunstonh said:

I was charged PPI by Lloyds for my business Mipi Limited between 2002 and 2013, however they called it something different to PPI. We had no choice to pay it as I was told by the account manager that it was mandatory.

It should be noted that businesses are often required to take out mandatory insurance for commercial borrowing and that is allowed.  Technically it is still allowed for personal customers but you rarely see it on that side nowadays.

I have sent a PPI complaint into Lloyds before the August deadline last year but they refuse to deal with me. 

That is correct.   Only the legal entity can make the complaint and you are not the legal entity or responsible for the legal entity.   If the business closes, then an ex director cannot act on behalf of that business.

I believe they want me to re-instate the business but I have a deed of assignment from 2013 that shows that all rights and benefits were passed to me legally, but they ignore this.

The deed of assignment doesnt apply to this.

The FOS don't know if they can act on this matter and are totally unhelpful. 

The FOS are not free-of-charge solicitors you can call on like this.   In issues of law you need to use a solicitor.

I estimate by calculating the value of the several financial products we had from Lloyds (£92K overdraft, several £30K+ loans, factoring with limit of £180K) that I am due circa £250K in missold PPI but I don’t have the documents and Lloyds are refusing to send them to me.

If you are that confident, then reopen the business and pay all the costs that go along with that.  However, there is still the possibility that Lloyds will refuse the complaint. £250k of PPI premiums would be a record by a long way.  So, it does seem unlikely.

Furthermore, after my business was forced to close, I couldn't afford my rent and I was made homeless for 6 months. Had I not been charged PPI, I would have been able to pay myself and afford rent.

You are as a business and you as an individual are two different things.   So, that is irrelevant.

Has anyone got any ideas how I can get some cooperation out of Lloyds? 

The business needs to be reinstated.  Or if you think Lloyds are not complying with the law, then you engage a solicitor.

Many thanks for your advice, much appreciated.