Tuesday 8th July - Latest News on the OFT v Banks Test Case

[Tempty]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

disappointing in some way's and interesting in others, I can't say I'm surprised about further delays though.

once again thanks for the information guy's, as always nicely reported

[breeze1996]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

What we don't know is why the OFT care taking so long.

It could be because the banks won't give the info they need. That was what they said last time that the banks were changing the T & C's and they had to include all the new info before they could finish.

I do agreed that now we could get somewhere is't frustrating to be told the OFT are not ready.

[showergirl]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

It appears that now they may win something the OFT are backing off & actually frustrating the process by delaying it

I wish that the OFT had left things alone. They are supposed to be working for us but as you say seem to be backing off when it appears they may win something. Why are they not prepared for the appeal in July they have had a year to look at things. The judge gives the opinion that the charges applied to these accounts seem a bit excessive, so why are the OFT not moving things forward instead of delaying the whole thing. It looks like this case is going to go on into 2009.:tinysmile_cry_t:

[ROBSTER]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Is it because the OFT are doing better than they are "supposed to" ?

[righty]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Is it because the OFT are doing better than they are "supposed to" ?

You may have a point

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Update from the court.

Historicals are still being put forward re penaltly clauses - Rabinowitz is currently arguing with Justice Smith that a leaflet' entitled 'Guide to Charges' is a promotional leaflet and does not form a part of the contract. The Judge appears to disagree. This leaflet contains some of the terms which may be deemed either unfair under UTCCR or as penalty fees so is quite important.


The OFT press office appear to expect a judgement being handed down on Historical Terms and the read over of the UTCCR judgement on current terms this afternoon.

The read over will apply to ALL historical terms, not just those illustrated /highlighted in the case.

The Judge is quite unhappy about the mithering regarding the appeals. He has pointed a window out for the end of October to both parties, but neither has taken it up and the Judge really wants a date setting for the appeals to proceed.

It is by no means certain there will be a Judgement on the readover re UTCCR this afternoon but it sounds like it is a possibility.

[fuzzybrain]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Sorry if I sound thick (I'm having one of those days!!) but does this mean the stays will be lifted we will be able to continue with our claims in court???

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Nope - not until the OFT report on whether they think the fees are fair - which they can't do till they know if they may be assessed under fairness.

Think we're looking 24/25 July before anything on that score happens.

[fuzzybrain]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Well on the plus side, at least it's this month and things are moving forward and looking positive for us. We seem to be always waiting for the next step. :clock:

What will we all do when we have finished claims of the banks? I like this hobby - it's the best saving plan I've ever had!!! :tung:

[ROBSTER]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

PPI, my friend, PPI !

Could be bigger than bank charges, & fight the time statute which should not be accepted as it appears to have been.

[fuzzybrain]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

I don't think I have any of those, we always refused to take the insurance out because of the cost. I'm not sure if one of old mortgage policies might have insurance but I can't remember who it was with or when....

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

NO JUDGEMENT ON HISTORICS re UTCCR today


writing rest up

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Still no decision has been made in the latest part of the high court test case between the OFT and the Banks.

The court has been hearing the OFT's submissions that certain clauses in historical (those prior to November 2007) terms and conditions may be deemed as penalty clauses.

The Judge has indicated his intention to make a declaration on historical fees and their applicability under the UTCCR fairness principles as well as the penalty charges aspects. He expects this declaration to be made within the next three months.

He has already made a decision that current terms may be assessed under fairness principles, and may not be deemed as penalties. The decision relating to the UTCCR is being appealed by the Banks.

The Banks have also already indicated their intention to appeal the ruling made with regards historical terms. The appeals should be held at the same time and a window of end October beginning November has been put forward by the Court of Appeal. The Banks wanted the appeals to be heard seperately and this month as the Court of Appeal had agreed - however the OFT have indicated they are not ready for the appeal, and the Judge wishes all aspects under Appeal to be heard together.


The Judge stated one of the reasons he is holding off on a declaration of the read over of his UTCCR judgement on current terms, to historical terms. as being technicalities of the wording in the declaration. He has concerns over the multitude of leaflets, charge guides and 'promotional literature', that may or may not be deemed part of the agreement.

He is concerned that the county courts would have difficulties applying his declaration as it stands with banks claiming the leaflets price lists and guides are part of the T&Cs but not covered by the judgement, so hes just covering all angles for the good of the consumer.

The banks are writing a proposed forumla of wording to give to the Judge by tomorrow, Thursday 10th July.

He has also asked the OFT for a commitment to bring out the PCA by the end of July. As previously mentioned this should be submitted for redacting on or around the 24th July.

It does appear from what was said in court that the UTCCR's will apply to historic terms across the board, and it also appeared the Judge was in agreement with the OFT over those penalty charge clauses in historic terms that were submitted. These will be detailed in the next judgement.

I am very hopeful that claims based on historic terms will be able to proceed from the time of the declaration, under both penalty charge and UTCCR fairness arguments.

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Basically sod all happened am rewriting that last post so it makes an inkling of sense now (well after the school run and tesco shopping sorry just bad timing)

[EXC]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

I think it's a given that his declaration on the readover of the fainess assessment judgment to historicals will go the OFTs way. The judge wanted any appeal to it dealt with at the Court of Appeal when they appeal the current terms in Oct/Nov but the banks want it held separately and so will seek leave to appeal when the declaration is handed down.