Ombudsman to rehear complaint

Thu, Jan 26, 2012, 00:00

The High Court has directed the Financial Services Ombudsman to rehear a complaint by two businessmen that Bank of Scotland reneged on an alleged oral agreement to accept low interest-only payments in relation to property loans of some €17 million.

Mr Justice Gerard Hogan noted his decision to remit had costs consequences and raised issues about the purpose of the ombudsman and how its functions differed from the courts.