LONDON - Close Brothers (F:CBRO) Finance PLC, a prominent UK merchant banking group, has been granted permission by the Supreme Court to appeal a judgment in the "Hopcraft" motor finance commissions case, the company announced today. The appeal follows a decision by the Court of Appeal against Close Brothers Limited ("CBL"), a subsidiary of Close Brothers Group plc.
The application for permission to appeal was submitted by CBL on November 22, 2024, and the company has now received confirmation from the Supreme Court that it can proceed. Close Brothers has stated it will not comment further on the ongoing appeals process and will make additional announcements when appropriate.
This legal development is considered inside information, according to the UK version of the European Union's Market Abuse Regulation. As per the announcement, which is now in the public domain, the company's Company Secretary, Sarah Peazer-Davies, is responsible for arranging the release of this information.
Close Brothers, listed on the London Stock Exchange (LON:LSEG) and a constituent of the FTSE 250, employs around 4,000 individuals mostly in the United Kingdom (TADAWUL:4280) and Ireland. The group offers services including lending, deposit taking, wealth management, and securities trading.
The announcement also contains a cautionary statement regarding forward-looking statements, which may involve risks, uncertainties, and assumptions. It emphasizes that no assurance can be given that any particular expectation will be met and that past performance is not indicative of future results.
The company's annual report, which includes factors that could cause actual future operations, performance, financial conditions, results, or developments to differ from current expectations, is available on their website for those seeking detailed information.
This news article is based on a press release statement from Close Brothers Finance PLC.
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