The Supreme Court has confirmed who will be able to make a formal intervention as part of a motor finance appeal case, which is set for April. The case will hear an appeal by finance firms after the Court of Appeal Commission Disclosure ruling in favour of the customers in October last year.
HM Treasury was among those that applied to intervene in the case but has had its request denied. The Treasury stepped in amid concerns about the possible impact on the wider car financing sector, but said it respected the Supreme Court's decision in not allowing the intervention, saying it would monitor the situation closely.
Banks and other lenders face having to make payouts totalling millions of pounds. The government said last month that, while it wanted to make sure customers get redress, it also wanted the motor sector to be able to continue "supporting millions of motorists to own vehicles".
The court also rejected applications to intervene in the case from Consumer Voice, a compensation advisor, and the Finance & Leasing Association trade body. It approved applications from the Financial Conduct Authority (FCA) and trade body the National Franchised Dealers Association. The court's time is limited, so it sometimes rejects interventions from parties who it believes may give similar evidence.
BVRLA’s Commission Disclosure resources hub: BVRLA Commission Disclosure.
