On 6 June, the Commercial Court handed down judgment granting a declaration in favour of Shop Direct Finance Company, to the effect that where the Official Receiver brings a payment protection insurance (PPI) claim acting as trustee in bankruptcy, it is the OR’s knowledge (actual or constructive) which is relevant for the purposes of the Dispute Resolution: Complaints Sourcebook (DISP) limitation rules, not the knowledge of the bankrupt. The decision has potential industry-wide implications in relation to the large number of Complaints which the OR has sought to make in respect of PPI policies held by persons later made bankrupt.
Oliver Assersohn acted for the claimant, Shop Direct as junior counsel. He was instructed by Weil, Gotshal and Manges.
The judgment can be found here.