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 has completed its work on part of its Scope and Methodology Statement which can be found here, and has published guidance notes entitled ‘IAR Fraud and the Causation of Loss’ and ‘Quantifying D & C losses’.

Update from Sir David Foskett – August 2020

I am pleased that the Panel has now been able to invite Customers who wish to do so to complete the opt in form. We trust that the questions on the form are self-explanatory, but if you have any queries, please do contact us on

I would like to thank everyone for the patience shown whilst we have worked to get the Re-Review process up and running. Customers have until 4pm on Friday 4th September to indicate a wish to opt in to the process by submitting their answers on the website. It would, however, be helpful to us if you are able to complete the opt in form as soon as possible, as it will help the Panel to develop a prioritisation strategy to determine which cases should be looked at first and to carry out some important preliminary work. However, we do understand that some of you may need the full period in order to decide whether to opt in.

In accordance with Sir Ross Cranston’s recommendations, in order to complete the opt in formalities, it will be necessary for any Customer who wishes to opt in to sign an agreement with Lloyds Banking Group whereby the Customer and the Bank agree to be bound by the outcome of the Re-Review process. Once you complete the opt in form, we will inform the Bank, who will then contact you directly concerning this agreement.

I hope all this is clear and we will be in touch with customers again shortly regarding next steps.

David Foskett

Sir David Foskett
Chair of the Re-review Panel

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