Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

[Paule]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

1st Update

OFT have Won

Banks have been refused leave to appeal.

The banks can apply direct to the House of Lords for an Appeal though.

If House of Lords refuse leave to appeal, then all stays will be lifted and it won't hold up the Issue of fairness being assesesd.

These are brief notes from a quick phonecall

Appeal Judgment - Court Updates - Legal Beagles

[TANZARELLI]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

From twitter:

Basically we win and banks have to ask court of lords to appeal

Judge feels best action to keep stays to stop clogging up courts. Oft need to get moving.

[LuggerBugs]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

Just got to http://www.twitter.com/LegalBeagles

[TANZARELLI]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

http://news.bbc.co.uk/1/hi/business/7910852.stm

[Shazzaw]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

From BBA website

Statement on Bank Charges Test Case


26/02/2009


The BBA said:


"These are important points of law. The Courts can now go on to clarify the fairness of charges. Before that can happen the Office of Fair Trading [OFT] has to provide the Courts with its views on how charges should be assessed."

This seems to me as though they won't be Appealing to the House of Lords then!!!!!!!!!!!!!

[enaid]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

From BBA website

Statement on Bank Charges Test Case


26/02/2009


The BBA said:


"These are important points of law. The Courts can now go on to clarify the fairness of charges. Before that can happen the Office of Fair Trading [OFT] has to provide the Courts with its views on how charges should be assessed."

This seems to me as though they won't be Appealing to the House of Lords then!!!!!!!!!!!!!

They have been told they can't
BBC NEWS | Business | Bank charges appeal is thrown out

[Glenn UK]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

This seems to me as though they won't be Appealing to the House of Lords then!!!!!!!!!!!!!

personally i wouldnt be so sure. If the banks think they can save a few pennies on each bank charge by appealing any element of the case they probalby will, its worth the expenditure given the size and scale of the revenue generated by the charges.

It will be nice when this is all done and dusted, then i can work out if the limitations act applies given the fact that the charges will be deemed unfair rather than penal.

Glenn

[Paule]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

The banks can appeal Direct to the House of Lords if they so wish, it was that they weren't granted leave to appeal in the court today by the Judge.

But this wont stop the OFT being able to continue and Assess charges under the UTCCR

[enaid]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

personally i wouldnt be so sure. If the banks think they can save a few pennies on each bank charge by appealing any element of the case they probalby will, its worth the expenditure given the size and scale of the revenue generated by the charges.

It will be nice when this is all done and dusted, then i can work out if the limitations act applies given the fact that the charges will be deemed unfair rather than penal.

Glenn

The Appeal Court ruled that the Office of Fair Trading (OFT) has the power to look into the issue.
Master of the Rolls Sir Anthony Clarke said the banks could not appeal against the decision in the House of Lords.

[hoops-morton]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

Dare we think the end of the road is in sight? oh to dream! They have been only delaying the inevitable IMHO, but like others I think they may opt to drag it out longer and go to the house of lords,although if Im reading it right they cant go back to court.

[Shazzaw]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

Just to confirm that the Banks ARE appealing the decision to the House of Lords:-

The court has not said fees are unfair just that they can be looked at to see if they are fair or not. The banks continue to believe that the Regulations do not apply to these type of charges. The banks will apply to the House of Lords for permission to appeal the Court of Appeal's decision. The banks will work with the OFT to ensure the next stages in the test case process are progressed as quickly as possible."

From BBA website

[archer_66]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

well its better news than i thought we would get today to be honest ..thought the economic climate might have swayed it... although the banks are being blamed for that now...

[BJ's Dad]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

Excuse my stupidity on this but does this mean that our 'stayed' cases are no longer stayed and the 8% compound interest is growing again until the final outcome?

[Paule]

Re: Appeal Judgment - 26th February 2009 - OFT v Abbey National Plc & Otrs

The case are still stayed pending the outcome of the OFTs investigation as to whether the charges are fair or not.
This is to prevent the courts being flooded.

Proabably the idea is that once the OFT get a ruling the banks will be forced to pay out direct back to the consumers and therefore thwart the need for the court cases to claim your monies back

[Amethyst]

The court has denied the banks further appeal and although the banks may petition the House of Lords to appeal further Master of the Rolls may have indicated this would not be successful. The Judgment to uphold the original judgment from Justice Smith is heavily based on the previous House of Lords decision in First National Bank - Read Director General v First National Bank case here

The Banks must submit within a month whether they apply to the house of lords to allow an appeal - and then the house of lords must respond within 8 weeks. So we are looking at May possibly before the House of Lords AND the OFT's investigation is completed and before any stays lifted.


IF the House of Lords DO grant the banks an appeal IF the banks apply for one - we could be looking at 2010 before any conclusion, so fingers crossed they hold their hands up.


The OFT have no powers to order the banks to repay consumers. We already know they have contacted banks with their initial findings under UTCCR and that they have found the specifics terms unfair, these investigations continue.


With regards to reclaiming - NOTHING CHANGES YET - please KEEP putting your claims into the banks and KEEP putting in requests for consideration if you are suffering financial hardship.