LCL Update 14/08/2021

Dear members,

As you will be aware, LCL worked with the legal firm RPC to lodge an application for a Judicial Review into the process by which the Loan Charge Review was undertaken. After reviewing material gathered via FOI requests and available elsewhere, RPC recommended the basis for the application, which was that it focus on bias in the actions of Sir Amyas Morse. Unfortunately the judge who reviewed the material has dismissed the application, citing a lack of specific evidence of bias from Morse.

We know that all of you, like us, see this judgment as a huge blow as many had pinned hopes on this as a means of halting HMRC action via the Injunctive Relief we had sought. We had the opportunity to lodge a subsequent appeal, which would have meant incurring more legal costs, but having taken advice, we were informed that the judges’ ruling had left little opportunity for that to have a chance of success. Loan Charge Legal SteerCo met and agreed that, given the position, it was best to draw a line under matters and recover any unused funds raised. We are waiting for confirmation of the residual funds remaining in our client account with RPC after all Counsel charges, at which stage we will pro rata a refund to all members that we still hold details for (some members previously requested to have all contact details removed). This will take place over the next month or so.

We are acutely aware that many of you will have questions and we will of course do our best as volunteers to make time to answer these. You can be assured we have been over many of these ourselves and, having seen how what we were told was a strong case has been dismissed, we have questioned RPC on the strategy employed. You will hopefully appreciate that, as non-experts, we are led by the legal team in these matters.

Please see attached communication from RPC to explain in more detail. We are very sorry and disappointed that this is now the end of this particular strategy against HMT/HMRC, however we strongly believe this is not the end of the fight and we remain strong in collaboration of all caught up in the unjust Loan Charge legislation. Stay strong and look after yourselves.

35318921-vR-Summary for Client
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