The Foskett Panel


Sir David Foskett has been appointed to chair the independent Re-Review Panel (also known as the Foskett Panel) to reassess the direct and consequential (‘D & C’) losses suffered by victims of the fraud committed at the ‘HBOS Impaired Assets unit based at Reading and Bishopsgate (‘IAR’)’. Sir David is joined on the independent Panel by Philippa Hill and Andrew Hildebrand.

The work of the Panel arises from the conclusions of Sir Ross Cranston’s report, known as ‘The Cranston Review’, published in December 2019. The Cranston Review concluded that the way Lloyds Bank had dealt with D & C claims in its original Customer Review was unsatisfactory and did not achieve the purpose of delivering fair and reasonable offers of compensation. He recommended that the process of assessing direct and consequential losses should be carried out again, but this time in a fair and proper manner. In a second report, published in April 2020, he suggested how the reassessment exercise might be carried out.

The Panel's Scope and Methodology Statement can be found here, and we have published guidance notes entitled ‘IAR Fraud and the Causation of Loss’ and ‘Quantifying D & C losses’.

Update from the Panel – December 2022

Update on our work and progress to date

It has been two months since our last update and, as indicated in the table below, we have continued to issue decisions at a similar rate to the previous two-month period.

Re-Review Decisions Issued
Total since the start of the Re-Review (up to 6 December 2022) 121
3 August 2022 – 4 October 2022 50
5 October – 5 December 2022 52
Customers yet to receive a decision from the Panel 99

For the purposes of the table above, a ‘decision’ refers to a Victim Status Decision, ‘Minded-to’ Decision, or a Final Decision issued to a Customer.

As shown, we have issued a total of 102 Customer decisions since the new arrangements were launched on 3 August 2022, which included the introduction of Victim Status Decisions and the Fixed Sum Award option for Customers for whom a positive victim status has been established.

Work has progressed on all cases to which we have assigned priority status (taking into account the health, financial circumstances and age of Customers), and we continue to ask that Customers let us know if there are any changes in circumstances that we should be aware of.

We are grateful for the co-operation of Customers and their advisers in ensuring timely responses to any enquiries we have made, which has helped us maintain our high rate of progress in this period.

Future outlook

Looking ahead, we recognise there are still many Customers yet to receive a decision from us and we continue to work at pace and will continue to do all we can to progress cases. The holiday period will, inevitably, mean a pause in certain work such as Customer meetings and communications, which is likely to have a knock-on impact on the rate at which we are able to issue decisions in the next two month period.

We do understand, as expressed previously, that the wait for an update on an individual case can be difficult. Please be reassured that as soon as we are in a position to do so, we will be directly in touch.

Next update

We will provide our next general update on the progress of the Re-Review in February 2023.

We wish all Customers and their representatives the very best wishes for the festive season ahead.

Kind regards,

David Foskett
Philippa Hill
Andrew Hildebrand

Video Update from Sir David Foskett – April 2021

For the FAQ videos referenced in the above update, please click here.

If you have any questions or comments in the meantime, please contact