To: IngotWeTrust who wrote (62654 ) 1/14/2001 5:19:48 PM From: long-gone Respond to of 116764 Yet another example of "honesty"(cough cough gag gag) of the Brit. banks that helped urge for the US gold sale? BBC News Saturday, 13 January, 2001, 07:53 GMT Windfall winners kept waiting Customers complain that letters have not been answered More than 3,000 customers of Scottish Widows have not received their windfall payments five months after the money was due. The purchase of the life insurer by Lloyds TSB in June 1999 triggered a windfall bonanza with more than 1.5 million customers expected to get an average of £5,700 each. The BBC's Moneybox programme has learned that more than 3,000 people are still waiting for windfalls worth a total of nearly £20m. Customers have complained of administrative chaos with telephone calls not returned and letters not replied to. Staff overwhelmed The company has said that staff had at times been overwhelmed by the work involved but said it was confident that everyone would be paid by the end of the month. In the aftermath of the Lloyds TSB purchase the company set up a special unit to track down 80,000 policyholders who had not claimed windfalls worth a total of up to £290m. Some multiple-policyholders were thought to have been entitled to up to £100,000 in windfall with 700,000 people in line for £500 and 900,000 expected to receive an average of about £6,000. The bumper payouts resulted from Scottish Widows' jump in value from £6.7bn to £7.3bn. £5.8bn windfall Of this, £5.8bn was supposed to be paid by Lloyds TSB as windfalls to Scottish Widows customers. Scottish Widows followed a host of other mutual life insurers that accepted takeover bids resulting in windfalls, including Scottish Amicable, Clerical Medical, Scottish Mutual and NPI. The takeover ended 184 years of independence for the company, set up in 1815 to look after the widows and orphans created by the Napoleonic wars. news.bbc.co.uk