Speak no Evil, Hear no Evil: Black Horse Limited v Speak & Speak

    July 2010

    His Honour Judge Waksman QC, sitting in the High Court, handed down judgment on 21 July 2010 in Black Horse Limited v David Speak & Caroline Speak [2010] EWHC 1866 (QB) on four issues often argued payment protection insurance litigation: firstly, whether being told that payment protection insurance (the "Policy") is a condition of the agreement when it is recorded, on the face of the agreement, as optional means a regulated credit agreement is unenforceable; secondly (and subject to the first allegation failing), whether a representation that the Policy was compulsory when it was not entitles a borrower to damages for misrepresentation; thirdly, whether the lender complied with the Insurance: Conduct of Business Rules ("ICOB"); and fourthly whether the sale of the Policy creates an unfair relationship.