OFT Test Case Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

[Amethyst]

Justice Smith is happy to issue a declaration to the effect that there are NO terms historically which can be deemed as penalty clauses for Barclays, Clydesdale, HSBC and HBOS.

Abbey and Lloyds TSB the decision is not yet final as the Judge is still waiting for representations. It is however expected to be the same declaration.

RBSG the Judge does not feel able to make a declaration but this is pending submissions.

Nationwide was already determined as not having historical penalty charges.

Back in April Justice Smith ruled that CURRENT terms also could not be deemed as Penalties under Common Law.

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What happens now?

The Judgement will be subject to appeal. This is expected to commence 28th October.

It is expected that the waiver will remain in place until at least January 2009.

Hardship claims may continue. Please visit our Hardship forum if you are in financial difficulty.

The Judgement reads across to Business Claims.

The PCA report consultation which is underway at the moment will also deal with the future of charge levels, structures and transparancy in personal current accounts.

We will keep you updated as we receive further information from the court and the OFT.

The Office of Fair Trading: Personal current accounts in the UK

The Office of Fair Trading: Personal current accounts - UTCCRs investigation and test case

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

boooo bad judge :-)

thanks for the info

Borgbaiter

[showergirl]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

does this mean we've lost

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

nope just going the same way as the current terms i should think

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

seems so Borg. Not toally unexpected but a bit annoying. Will let you know as soon as I hear more.

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

i so much prefered penalties to utccc for one thing i can spell penalties :-D

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

he hasnt given declaration still waiting for abbey .llloyds and rbs


no declaration UTCCR yet

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

Paragraph 131

as far as the terms in issue between the oft and the banks are concerned

1. barclays clydesdale and hsbc are entitled to declaration and I invite submissions about the exact wording

2. I shall consider the position with regards to abbeys may 2005 conditions in light of further submissions but otherwise abbey is entitled to a declaration

3. hbos is entitled to a declaration except in repect of its IF account

4. I invite further submission from lloyds tsb and the oft as to whether i should make any declaration in favour of lloyds tsb and if so what its terms should be.

5. As things stand I am not satisfied that I should make any declaration in favour of RBSG but shall seek further assistance from counsel about its application.

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

para 132 I also invite further submissions about what declarations I should about the terms that the oft does not contend are or might be penal and about what declarations i should make to give effect to this judgement

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

excuse my typing lol. Will organise later on But basically NO PENALTY CHARGES....we now have to rely on the OFT testing the fairness of the terms under the UTCCR 1999.

RBS COULD be penal but waitiing for further submissions

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

between the devil and the deep blue sea spang to mind :-S my brain worries me at times.


Borgbaiter

[showergirl]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

So does this mean we have to wait for the OFT to finish their investigation. Do these charges come under the unfair term and conditions. Can you tell me what happens now.Will there be another court hearing

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

assuming he didnt throw out the UTCCR too.


Borgbaiter

[Amethyst]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

No UTCCR is still in play.

[borgbaiter]

Re: Judgment is IN !!!!!!!!!!!!!!!!! 8th October 2008

good good

just makes it longer dont it.