Lloyds bank hit with GBP265 million claim from Arena TV liquidators
( July 5, 2024, 17:00 GMT | Official Statement) -- MLex Summary: The liquidators of Arena Television have filed a UK High Court claim worth more than 265 million pounds against Lloyds Banking Group and its Bank of Scotland subsidiary. The liquidators claim the banks breached their duty of care to the company when it allowed former directors Richard Yeowart and Robert Hopkinson to perpetuate a massive fraud against 55 lenders. Arena TV collapsed in November 2021 when evidence emerged that it had secured loans worth 1.2 billion pounds against more than 8,000 items of television equipment that didn’t exist.Claim form and particulars of claim attached....
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