Cater Allen Trust, the Jersey-based subsidiary of Cater Allen owned by Abbey National, may have to pay £90m (€138.6m) in damages to the Jersey Financial Services Commission, following the Privy Council's decision to uphold a judgement in favour of the Commission.

The Court of Appeal judgement resulted from the Commission's appeal to overturn the high court decision to dismiss its case against Cater Allen, which it first brought in 2000.