Appeal Judgment - Court Updates

[Paule]

Temporary Thread for Updates from the Court.

Will update as I hear the news from EXC et al

There will also be brief Twitter updates coming through

[Paule]

Re: Appeal Judgment - Court Updates

1st Update

OFT have Won - They can assess charges under the UTCCR

Claims still stayed in courts to stop it flooding system

Banks have been refused leave to appeal by the court.

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

[EXC]

Re: Appeal Judgment - Court Updates

Just to clarify that the stays remain in place pending the outcome of the OFT's investigation into unfair terms on charges and not just pending any appeal decision from the House of Lords.

More later................Tools

[Paule]

Re: Appeal Judgment - Court Updates

An appeal by eight banks against a ruling that a regulator can investigate the fairness of overdraft charges has been thrown out.

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.

Tens of thousands of claims currently on hold in the English and Scottish legal systems will stay frozen.

Sir Anthony dismissed the appeal and told the banks they should now allow the OFT to decide whether their charges were fair or not.

However, cases will stay frozen until the OFT has concluded its investigation.

BBC

[shooter]

Re: Appeal Judgment - Court Updates

any idea as to how long it may take the OFT to decide or have they already started on working it out?

shooter x

[TANZARELLI]

Re: Appeal Judgment - Court Updates

They have already started looking into it and have already contacted the banks with initial thoughts that the charges are unfair etc.

I read somewhere that they hope to conclude this later this year however a date has not been set.

[ROBSTER]

Re: Appeal Judgment - Court Updates

BBC Radio 2 suggested it should be resolved "by the end of the year".

Cigars back in the box chaps?