White & Case partner and Global Co-head of the Firm’s Financial Institutions Industry Group & EMEA Co-head of the Financial Services M&A Practice, Hyder Jumabhoy, was recently quoted in The Telegraph, discussing the possible implications of imminent judgment of the UK Supreme Court, which will decide whether millions of historical car finance agreements did not contain requisite disclosures in relation to discretionary commission arrangements. Hyder noted that the ruling could prompt banks to reconsider their risk appetite in respect of UK motor finance and encourage car manufacturers to take a more active role in providing finance. He said “The car manufacturers are watching the market very carefully. If there’s a lack of financing in the market, they’re going to be worried about whether there’s buyers for their cars…A lot of the large vehicle manufacturers actually have the balance sheet to support this.
Read the full article here (paywalled).
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Read the orginal article: https://www.whitecase.com/news/media/ps44bn-car-finance-ruling-threatens-calamity-reeves
