Slaughter and May acted for Close Brothers on its successful appeal to the Supreme Court in Hopcraft regarding broker commissions in a motor finance context

Slaughter and May acted for Close Brothers on its successful appeal to the Supreme Court in Hopcraft regarding broker commissions in a motor finance context. In a landmark decision for the motor finance industry handed down on Friday 1 August, the Supreme Court has determined that motor dealers acting as a credit broker do not owe fiduciary duties to their customers and dismissed the Hopcrafts’ claims against Close Brothers entirely.