Financial Ombudsman Final Decision. Halifax refuse to comply

JANETSAVING

The date of the decision was 30th June 2023. 

Halifax initially ignored my polite requests for settlement, until recently when I threatened them with enforcement using an application to the court for enforcement (N322A).

This has stimulated a flurry of protest, firstly claiming they where still in dialogue with the Financial Ombudsman Service. 

I checked with the FOS and they confirmed that the case was closed and that no further action was pending.

Halifax are now arguing that the settlement terms (clearly laid out) are not actually what the Ombudsman meant. It seems all rather obtuse and disingenuous. They have now made a quite inferior offer, and have stated that this is their final position.

As a result of this shocking ongoing experience I am finding myself suffering from a great deal of stress, I am unable to concentrate on everyday things and I am finding it difficult to have a full nights sleep.

eskbanker

Just to be 100% clear, was this a final decision issued after escalation right through all stages of the FOS process to an actual ombudsman or just an adjudication made by a FOS case handler?

The former are definitely legally binding and are published at https://www.financial-ombudsman.org.uk/decisions-case-studies/ombudsman-decisions

DullGreyGuy

Do you have your case ID? If so it'll be on the ombudsman website if the decision has come from an ombudsman rather than an adjudicator. Only the former is binding

JANETSAVING

Yes it is a Final Decision 
Case PNX 4448053 S3JO

JANETSAVING

eskbanker,
I found it using your link. It has the reference DRN-4180349

Money saving expert won’t allow me to post a direct link

WillPS

I'd advise you edit your posts to remove the reference numbers, they won't do any good sat in the open - nobody here can crosscheck them.

eskbanker

WillPS said:

I'd advise you edit your posts to remove the reference numbers, they won't do any good sat in the open - nobody here can crosscheck them.

There's nothing wrong with sharing the DRN, which can only be used to access published data already in the public domain, which doesn't identify the complainant (other than as "Mrs D").  I can't see what anyone could do armed with that, although maybe the case number itself would be worth redacting.

molerat

The decision remedy looks pretty straightforward and clear what the ombudsman meant.

Stop threatening and just go for the N322A

Real legal paperwork landing on the desk, especially when it is just an unchallengeable rubber stamp of the ombudsman decision, will often make them change tack.

JANETSAVING

I have no experience of such conflicts. 

I find it very intimidating, the prospect of having to go to court and fight a hostile company.
And I’m concerned about the cost of employing lawyers

JANETSAVING

As a bit of an aside. This conflict arose because I spotted in an RNS offering a conversion from one bond to another (ENQ1 -ENQ2). There was obviously some financial incentive offered. 

Normally your broker would inform its clients of the offer through a Corporate Action. 

In this case as far as I know every other broker in the UK issued a Corporate Action and their investors could take up the offer.
 IWeb/Halifax did not inform its clients of this offer citing’a management decision’ as justification. I suspect many passive  investors would not have known about the offer and therefore were denied the opportunity.
I also doubt this is an isolated case. Goodness knows how many other corporate offers have been made and IWeb/ Halifax have made ‘a management decision’ to deny their investors the opportunity to participate.

eskbanker

The details are all visible at https://www.financial-ombudsman.org.uk/decision/DRN-4180349.pdf - what is HSDL's 'final offer'?