Key Lloyds Business Support Unit documents set to be uncovered in High Court Case

 
Alexandra Rogers
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Lloyds and PwC are facing a £55m claim from motor dealership Premier Motorauctions (Source: Getty)

Key documents surrounding Lloyds Business Support Unit (BSU) are set to be revealed in a £55m legal battle with a motor dealership that has accused the bank of forcing it out of business.

Leeds-based car dealer Premier Motorauctions has accused Lloyds and accountants PricewaterhouseCoopers (PwC) of conspiring to force the business into administration and then profit from its sale.

In a court hearing on Monday, Lloyds agreed to search for a copy of its three year plan after a memo likening the BSU to the Royal Bank of Scotland's (RBS) highly criticised global restructuring group (GRG) was revealed last week.

The three-year plan is thought to contain language similar to that used in RBS's 'Dash for Cash' manual, in which Lloyds's objectives were listed as the “doubling of income” and “moving from ‘defenders to strikers’'.

A spokesperson for Lloyds said: “Throughout the litigation, the claimants have been making serious allegations without foundation and where there are no documents to support them. As a result, they are making increasingly speculative and disproportionate applications for disclosure in the vain hope that documents helpful to them might materialise. We continue to believe this case is without merit and we will continue to contest it vigorously."

Read more: Lloyds and PwC face £55m court case from motor dealer

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