TV’s Noel Edmonds hit with £1.6m bank bill after his business partner legally blocked from helping him fight it
Lloyds lawyers realised that partner Pascoe's legal expertise could save star so settled with him
NOEL Edmonds was hit with a £1.6million bank bill after his business partner was legally blocked from helping him fight it.
Lloyds Banking Group pursued the TV star after Unique Group, a firm he ran with Paul Pascoe, failed.
The bank was chasing £2.5million of loans owed to HBOS — which it rescued during the financial crisis.
Lawyers reportedly realised that Pascoe’s legal expertise could save the star money and Lloyds settled with him.
But a gagging clause stopped him telling Noel their cash claim was legally doubtful, the Financial Times revealed.
It meant the bank was able to enforce a £1.6million loan guarantee on the Deal or No Deal host.
Noel, 68, has previously told how the situation led to him to attempt to kill himself.
He is fighting Lloyds for £300million compensation, over claims corrupt HBOS financiers helped to destroy Unique a decade ago.
Yesterday Noel was unable to comment.
Lloyds said: “The group is determined to get to the bottom of what went on.”