Alert | ANZ Bank fee case heading to High Court
11 May 2012
The High Court has allowed the Appeal from Justice Gordon's recent Judgment to be removed directly to the High Court by-passing the Full Federal Court.
On 5 December 2011, Justice Gordon of the Federal Court delivered her judgment on the enforceability of exception fees charged by the ANZ Bank. Her Honour determined that only four of the 17 fees she examined are capable of being characterised as a penalty. [See Alert – ANZ Bank fee case of 16 January 2012.]
The ANZ did not appeal the decision relating to the 4 Fees found to be capable of being penalties. The Applicants appealed the decision, as it relates to the remaining 13 fees, to the Full Federal Court. The Applicants have applied to the High Court to have the High Court deal with the matter without the need for any further hearing in the Federal Court.
In the interim, the Federal Court proceedings both against ANZ involving an assessment of the fees to determine whether the fees are penalties, and against all other Banks, have been stood over awaiting the outcome of the Appeal Process.
On 11 May 2012 the High Court allowed the application and removed the appeals to the High Court to be heard. It is not yet known when the High Court will finally determine the matters.