POL00041841
POL00041841
DRAFT WORDING FOR THE ANNUAL REPORT & ACCOUNTS
Version A: DISCLOSE THE NUMBERS
On 11 April 2016, a High Court claim was issued on behalf of a number of
postmasters against Post Office in relation to various legal, technical and
operational matters (“the Post Office Group Litigation”). Post Office is [vigorously]
defending the claim, which is proceeding under a Group Litigation Order, and the
Court has ordered two trials to be heard during the 2018-19 financial year to
determine preliminary issues in dispute between the parties.
[No ‘Statement of Claim’ setting out the damages sought has yet been received
from the Claimants, nor has] the Court yet ordered a process for determining the
issues of liability or quantum in the litigation. Nevertheless, in a submission to
the Court on 5 June 2018, the Claimants indicated, for the first time, an estimated
aggregate claim value of £80m - £90m. This figure has no official status, and the
Claimants have not produced any evidence or methodology to support or verify
this claim valuation, instead stating that "there are inherent difficulties to setting
out the quantum of these claims at this stage."
While the Directors recognise that an adverse outcome could be material, they are
currently unable to determine whether the outcome of these proceedings would
have a material adverse impact on the consolidated position of the Group, and are
unlikely to be able to do so until the Court has made further determinations and
the Claimants have provided better information about the value of their claims;
the Directors continue to keep this under close review.
Version B: NO DISCLOSURE
On 11 April 2016, a High Court claim was issued on behalf of a number of
postmasters against Post Office in relation to various legal, technical and
operational matters (“the Post Office Group Litigation”). Post Office is [vigorously]
defending the claim, which is proceeding under a Group Litigation Order and the
Court has ordered two trials to be heard during the 2018-19 financial year to
determine preliminary issues in dispute between the parties.
[No ‘Statement of Claim’ setting out the damages sought has yet been received
from the Claimants nor] has the Court yet ordered a process for determining the
issues of liability or quantum in the litigation, and the Claimants have recognised
that there are inherent difficulties to setting out the quantum of these claims at
this stage. While the Directors recognise that an adverse outcome could be
material, they are currently unable to determine whether the outcome of these
proceedings would have a material adverse impact on the consolidated position of
the Group, and are unlikely to be able to do so until the Court has made further
determinations and the Claimants have provided better information about the
value of their claims; the Directors continue to keep this under close review.