Following on from his judgment in October 2008, on 21 January 2009 Andrew Smith J granted the declaratory relief sought, amongst other banks, by Lloyds TSB Bank PLC to the effect that Lloyds’ historic charges were incapable of being penalty clauses at common law.  The Bank was represented by Bankim Thanki QC and James Duffy – instructed by Lovells (Andrea Monks/Philip Parish).