The former Deal Or No Deal presenter claimed the review “cannot possibly be independent”. Edmonds’ lawyer, Jonathan Coad, has also expressed concerns in a letter to Professor Russel Griggs, who is running the review.
Edmonds is claiming compensation from Lloyds over the HBOS scandal. He alleges that HBOS and its former employee Mark Dobson destroyed his former business, Unique Group.
Lloyds has set aside £100m to pay out in compensation to business owners affected by the scandal.
Edmonds and Coad have asked Lloyds and Grigg respectively to answer a series of questions about the review process.
Edmonds said the process appears “neither fair not appropriate”. He criticised Lloyds for relying on Griggs to decide on compensation for companies, suggesting a forensic accountant would be better placed to do so.
He said: “The review procedure is that Lloyds itself collates the relevant information and then makes a recommendation for the appropriate level of victim compensation; a process that therefore cannot possibly be independent.
“Lloyds’ proposal is then sent to Professor Griggs to review. In the absence of any relevant expertise on his part or apparently any independent expert input at all he therefore has no way of judging whether the proposal prepared by Lloyds is fair or not.”
Edmonds was also critical of the length of the process, pointing out that more than 40 days had passed since 21 April, when he made his claim.
He also reiterated his request for a meeting with Lloyds chief executive Antonio Horta-Osorio.
A Lloyds spokesman said: “We have appointed Professor Griggs as the independent reviewer in the HBOS Reading customer case review. Part of his role is to agree the individual case outcomes, and to ensure that these outcomes are fair. He will make his decisions independently.
“As part of the review we have asked customers to provide their own input and where we receive this input it will be considered by the independent reviewer. We have also said that we will pay customers for the necessary costs of participating in the review.”