My old trustee told me they have no legal right to look into my affairs even if mond wins they will not be reopening my trust deed to see if I had any ppi it's seems to be very few firms if any will be doing that if mond wins .

So I wonder if what some of them doing is legal word former being important here. 15 years ago. And they have kept the ppi incase law changes

They'd say that it isn't clear what the law is, rather than saying that they're waiting to see if the law changes.

Hi jojo93.

You're right that most firms have simply followed the advice of their regulatory professional bodies.

The issue may be if those bodies change that advice in light of the forthcoming ruling.

It wont just be Mr Mond that will be opening trust deeds. If the Law changes then anyone who has had a trust deed regardless of how long it has been closed could be reopened.
What if there are companies out there that are owed money, they could contact the trustee and insist they reopen the trust deed in order to recoup some of there money or they may get all of it back if you look at some of the PPI pay-outs.
I have already been paid out on PPI and I know money has been sent to my trustee and they are holding on to it.

I think tda said in a past thread if mond wins it won't become law to open old trust deeds and they would only do it there was a alot of ppi to claim ppi deadline is August 2019

My guess would be that no trustee would spend time and money on all of the processes involved in re-opening a trust deed unless they knew for sure that they could recover their time costs, their fee outlays, and potentially return funds to creditors as well.

As we've seen here numerous times, a company about to make a payment to a former customer for PPI will often seek clearance from their former trustee first.

That's where (if the sum involved is sufficient) I could see a trustee considering this to be appropriate from a professional and commercial perspective.

The idea of trustees spending loads of money and time speculatively re-opening trust deeds seems very far-fetched.

It's all just speculation though, because we don't know what the judgment from the court will be, nor do we know how insolvency regulators would interpret that ruling into guidance, nor do we know how insolvency practitioners would respond to that guidance.

One thing it does show is how slowly the legal process works. I remember posting about potential court cases in December 2015!

But a Trustee does think it is worth it. There could be a lot more sitting in the background waiting to do the same thing. If you look at some of the pay-outs that have been paid for PPI I think it could be worth while investigating PPI. As I said if you have a bank that has lost thousands in an unpaid debt how can the trustee say they are not going to review a possible PPI payment.

Hi sophie,

Unless they have a specific insight into a particular PPI claim which would bring benefit to creditors, I honestly can't see why they would even consider trying to re-open a case.

Remember that they have to go to Court to seek consent to reopen the case. That costs plenty of time and money. I can't see a Court allowing them to do this unless they could present a specific reason why they should be allowed to.

Anyway - just personal speculation and definitely not legal advice.

So for a former trustee to apply to courts and take fees for dealing with renopening would this cost a few thousand

So for a former trustee to apply to courts and take fees for dealing with renopening would this cost a few thousand

a trustee would only reopen a trust deed if a debtor made a claim for ppi and the money was sent to the trustee and it would have to be for a very very big sum it would have to be a benefit to creditors

Mines is 6 k

is it to do with wording of the trust deed my discharge letters says a first and final dividend was paid to creditors there was not any form 5 letters of discharge in them days i just cant imagine every trust deed being reopened how many trust deeds has there been in the past 25 years the deadline for ppi is next year the courts will very busy with trustees trying to get very old trust deeds open i just cant see that happening