Business

Noel Edmonds kick-starts bank battle as he enters jungle

Noel EdmondsImage copyright Shutterstock

Noel Edmonds has formally kick-started his legal action against Lloyds Bank as he enters the I’m a Celebrity jungle.

The TV personality is seeking £60m over an alleged scam involving staff at the Reading branch of HBOS, which was subsequently bought by Lloyds.

He claims his former firm Unique Group was destroyed because of fraud. Lloyds has rejected the basis of his claim.

His lawyers served Lloyds with a pre-case letter, to initiate formal action, which could begin as soon as December.

Attempts at mediation between the two parties last year were not successful.

A spokesman for the bank said: “We are still waiting for Mr Edmonds to file his legal claim. If he does file his claim, it will be contested.”

Peak time

It comes as Mr Edmonds says he is to use his TV appearance in I’m A Celebrity to promote his cause in his battle for compensation from Lloyds Bank.

The former Deal Or No Deal host said in videos released to the Press Association that Lloyds would “have to pay up”, adding: “I am totally convinced at trial we will win.”

“It’s not going to do any harm to be in the jungle on ITV at peak time every single day for a few weeks,” he said.

Lloyds has set aside £100m for victims of the fraud at the hands of HBOS Reading staff between 2003 and 2007.

Corrupt staff from the HBOS branch were jailed last year for a £245m loans scam between 2003 and 2007 which destroyed several businesses.

It was revealed they squandered the profits on prostitutes and luxury holidays.

https://www.bbc.co.uk/news/business-46301097

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