FarePack Collapse Caused by Bankers – says Judge Smith

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HBOS – Baddies

The Financial Services Authority (FSA) has confirmed it has been carrying out an enforcement investigation into HBOS, which was taken over by Lloyds Banking Group during the 2008 financial crisis.

HBOS stands for Halifax Bank of Scotland which is a banking and insurance company in the United Kingdom. It is a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009.

HSBC is Hong Kong and Shanghai Bank Corp

The Guardian (of course)

http://www.guardian.co.uk/business/2012/jun/21/farepak-hbos-collect-cash-bust

Mr Justice Peter Smith – Calling it as he sees it.

Bloggers – Have to love ’em.

Posted December 5, 2006 at 11:43PM

The money went in loans made by the company to its parent, European Home Retail. There are questions being asked as to whether the loans meant that money from savers was being used to pay off the group’s bank debts.

The Company received about £40m from 150,000 families and loaned £17m to its parent and sister companies by the time it went into administration. BDO Stoy Hayward will investigate the question of whether there were any irregularities in the way that this money was moved from Farepak to the parent company.
Read more: http://www.pcadvisor.co.uk/forums/16/speakers-corner/266859/farepack-and-hsbc/?ob=datea&pn=4#ixzz1yWyOz8mZ

Customers
They lost a total of pounds 5,000 after Joan Johnston, 76, signed up her daughter and two grandchildren.

Joan, who put in pounds 432, said: “I’ve more than 30 grandchildren and 20 great-grandchildren. They’ll all go without presents.” Granddaughter Sharon Gilmore, 31, lost pounds 900 and balances two jobs with caring for sons Steven 14, and Lee, eight. She said: “I might have to scrap Christmas. But how do I tell my little one Santa’s not coming.” Her sister, mum-of-five, Anne- Marie Atcheson, 34, also lost pounds 900.
FAREPACK…-a0154113856″>

DAILY Mirror PLEA ON FAREPACK – Various Good Townsfolk

……….

And then there’s the sequel when Judge Smith calls a gun fight with Andy Hornby (Chief Operating Officer of HBOS and a non-executive director of Home Retail Group – recently joined Boots – there’s a surprise) to show him who is THEBOS.

http://en.wikipedia.org/wiki/Andy_Hornby

Hmmm – ‘I told you to get outa town.’

http://www.telegraph.co.uk/news/uknews/1557197/Law-Mr-Justice-Peter-Smith-loses-his-judgment.html

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