Keystone Law’s Jonathan Coad represents Noel Edmonds in bid for compensation over HBOS fraud

Keystone Law is seeking more than £70m compensation on behalf of Noel Edmonds, having written to Lloyds Banking Group, in the aftermath of the HBOS fraud scandal.

In the letter, Mr Edmonds argues that HBOS and its ex-employee Mark Dobson were responsible for the collapse of his once hugely successful Unique Group some ten years ago.

Two HBOS managers and others involved in a complex fraud were imprisoned last month for their parts in a £245 million scam that destroyed a number of businesses and plunged many hard-working business people into debt, causing immense distress and anger.

Lloyds Bank stated in April that it would look to make offers of compensation to all victims of the scam, from a £100m fund, in the coming months, with compensation also for the distress caused by the fraud to its victims.

Jonathan Coad, leading the Keystone Team representing Mr Edmonds, is pressing for around half of the provisional compensation fund to be awarded to his client, and therefore expects that Lloyds will be required to increase this provision significantly.

Jonathan said:

“I am delighted to have been tasked with recovering compensation for the personal and financial losses suffered by Noel Edmonds at the hands of corrupt HBOS manager Mark Dobson. Noel has waited ten years to see justice done after his business empire was brought down by Mr Dobson’s fraud, and if the Lloyds review process does not provide the recompense due to Noel, then all the necessary ordinance, including litigation funding, is in place to start legal proceedings.”

Mr Edmonds added:

"I confirm my lawyers have sent a detailed claim letter seeking compensation from Lloyds for the losses that I suffered as a result of fraud committed against me by one of its managers. I am now trusting that Mr Horta-Osorio is true to his word and ensures that I am ‘fairly, swiftly and appropriately’ compensated for both the destruction of my businesses and the significant damage to my reputation. If he is not, then I will pursue my claim against Lloyds via the courts.”

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