OFT Judgement to be released to Banks 24 hrs before general release

[Amethyst]

The judgement is looking to be handed down in April. The banks will each receive an embargoed copy 24 hours prior to public release.

Following the release there will be a case management conference, involving the FSA, to discuss implications and the timetable for resolving outstanding issues.

[Budgie]

Re: OFT Judgement to be released to Banks 24 hrs before general release

Ame,

Is the April handing down forecast actually from someone in the know or just another rumour ?

The latest press release on the OFT website indicates a July judgement !!!
http://www.oft.gov.uk/advice_and_res...nal-test-case/

Probably the best method of determining when judgement is likely to be handed down is to check Justice Smith's holiday plans. Because if I was him I would certainly plan to be away for a couple of weeks afterwards, whichever way it goes.

Budgie

[Amethyst]

Re: OFT Judgement to be released to Banks 24 hrs before general release

lol you think he'll need a good rest afterwards then.

The date is from a source, but the same source said end of march a while ago so I wouldn't hold your breath on the April bit. The rest we know already.

The PCA Market study will be published soon - end of this month - excluding the UTCCR sections - whether or not the judgement shows up.


The bit Budgie's referring to

The High Court test case, which is a key part of the investigation, is seeking to establish the preliminary legal principle of whether the provisions of the UTCCRs that deal with unfairness apply. It will also address the additional point of law of whether the charges can amount to penalties at common law. The hearing lasted from 17 January to 8 February and we are anticipating that judgment will be handed down by the end of July, although we have no firm information about this. In the meantime, we are continuing our investigation into the substantive issue of whether we think the charges are unfair.

[EXC]

Re: OFT Judgement to be released to Banks 24 hrs before general release

I would be surprised if Justice Smith would be able to give his judgement by next month. I've been keeping quite a close eye on his schedule since the hearing and he's been sitting on case after case virtually every day