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Court clarity

Nic Cicutti’s article in the July 10 issue of Money Marketing made a number of comments about the recent litigation in which we have been involved that are simply not true.

First, I have no idea who Mr Fatchett is. He is not and never has been HME’s or the Pickerings’ solicitor. In fact, we did not use solicitors. We instructed counsel from 4 Pump Court directly. Most of the article seems to be based on a false assumption that we were advised by Mr Fatchett, against whom Cicutti is pursuing a vendetta.

Second, the FOS was indeed ordered to pay the costs of a wasted day caused by their solicitors’ failure to comply with a direction given by the judge. We have a copy of the cheque framed on our wall. The FOS’s counsel accepted that the FOS had been at fault in this matter.

Third, the matter is not over. We have petitioned the House of Lords to hear an appeal.

Fourth, the FOS did not have quite the total victory that Mr Cicutti suggests. The Court of Appeal found the evidence that the FOS carried out any review of endowment complaints before passing them to adjudicators and levying a fee to be thin.

Fifth, we have no difficulty in paying our counsel’s legal fees. We would not have instructed them if we did not have the money in the bank.

AD Pickering
Heather Moor & Edgecomb
Chippenham, Wiltshire


Proc on the move

Mortgage clubs and networks are reviewing their business structures amid growing concern that procuration fees will fall away over the next two years to be replaced by advice fees.


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