Edmonds to take on Lloyds for £64m
Noel Edmonds is set to file his long-awaited legal case against Lloyds Banking Group within weeks as the TV star pursues the lender for £64 million.
The former Deal Or No Deal star told the Press Association that he is “set to go”, with formal legal action expected in late September or early October.
Mr Edmonds is seeking financial redress from the lender after falling victim to fraud by former staff at the Reading branch of HBOS, which Lloyds rescued at the height of the financial crisis.
He is pursuing Lloyds for damages for losses allegedly suffered when his former business Unique Group was destroyed because of the fraud.
Jonathan Coad, solicitor for Mr Edmonds, said they had secured new witnesses and were putting final touches to the case before filing.
Earlier this year, Mr Edmonds secured a “sevenfigure” sum from specialist litigation funder Therium to bankroll the suit.
Therium is also behind a class action lawsuit against car giant Volkswagen over the emissions scandal.
The deal the TV star struck with the group also means he is insured against any costs orders that might be made against him.
Lloyds has set aside £100 million for victims of the fraud at the hands of HBOS Reading staff between 2003 and 2007.