Financial Ombudsman Scheme: only one bite of the cherry
By Virginia Hickley and David Roche
The long-awaited judgment in Clark v In Focus was handed down at the Court of Appeal on 14 February, allowing the appeal.
What this means is that aggrieved investors cannot bring a claim in court having accepted an award from the FOS for the same claim.
Lady Justice Mary Arden has said that the Clarks should have rejected the award from the FOS if they wanted to seek further compensation from In Focus and could then have taken the case to court…
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