Sir David Foskett to chair HBOS reading re-review panel

03 April 2020

  • Lloyds Banking Group confirms creation of an independent Re-review Panel for HBOS Reading Victims
  • Details of the approach for the Re-review Process have now been published

Lloyds Banking Group welcomes today’s publication of Sir Ross Cranston’s additional report on the independent Re-review Process for HBOS Reading customers. This follows his initial report published in December and outlines in more detail how the independent re-review of direct and consequential losses will be implemented for impacted customers.

Lloyds Banking Group welcomes the appointment of retired High Court judge, Sir David Foskett to chair the independent Re-review Panel. Prior to becoming a judge, Sir David was a Centre for Effective Dispute Resolution trained mediator.

Sir Ross Cranston, working with victims of the HBOS Reading fraud, the All-Party Parliamentary Group on Fair Business Banking, SME Alliance and other stakeholders, has determined that the Panel should also comprise a dispute resolution expert and a forensic accountant to support the Chair. Sir David will be joined by Philippa Hill of Grant Thornton, a forensic accountancy expert, and Andrew Hildebrand, a dispute resolution expert with SME experience.

In December 2019, Sir Ross Cranston completed his assurance review into the Customer Review on HBOS Reading and concluded that “the review did not achieve its objective of giving all customers the confidence that they had received fair and reasonable outcomes in respect of the assessment of direct and consequential losses.”

The Group has been fully supportive of Sir Ross’s recommendations to offer all customers the option of an independent re-review of their cases and has been working closely with him, the All-Party Parliamentary Group on Fair Business banking, the SME Alliance and other stakeholders.  Details of the approach for the Re-review Process and Panel will be published later today on the Cranston Review website. In summary:


  • The independent Re-review Panel will be chaired by a retired high court judge and will be supported by a Panel which should include a financial expert and a dispute resolution expert, to act as subject matter experts and to support the Chair.
  • The Panel is responsible for reviewing cases by customers relating to direct and consequential losses as a result of the fraud
  • The Panel will offer customers the opportunity to meet with them, in order that Customers can explain in their own words the impact the fraud had on them and to raise any matters they felt were overlooked in the original review
  • Customers will be provided with all documents relied upon by the Panel in reaching its decision
  • The Panel will produce a ‘minded to’ decision, allowing parties to challenge that decision prior to a finalised decision being taken by the Panel
  • The Panel’s final decision will be binding

While responding to and supporting customers impacted by the COVID-19 outbreak is the Group’s primary focus right now, we are continuing to support the setting up of the Re-review Process. Despite the measures the Government has announced to combat the outbreak, all parties remain fully committed to launch the re-review as soon as is practicable.

In December last year, we committed to implement the recommendations made by Sir Ross in full. Since then we have worked closely with him, the victims and external stakeholders to support the creation of an independent Re-review Panel.

We are confident that the Panel will provide the structure and reassurance for victims to ensure they get their claims for direct and consequential losses addressed in an open and transparent manner. We would like to thank Sir Ross for his leadership and counsel in helping establish this re-review and we are committed to providing Sir David with all resources he requires to undertake the re-review.

António Horta-Osório, Lloyds Banking Group Chief Executive