find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Bank fees class action goes to High Court

Bank fees class action goes to High Court

Law firm Maurice Blackburn this week took its fight against unfair and excessive bank fees to the High Court of Australia in a case that could see it recoup more than $220 million.

Law firm Maurice Blackburn Lawyers this week took the fight against unfair and excessive bank fees to the High Court of Australia, in a case that could see it recoup more than $220 million.

Maurice Blackburn class actions Principal Andrew Watson said the High Court action, part of Australia’s largest class actions, represented an important moment in this case.

He said the class actions against unfair bank charges are the largest in Australia’s history, claiming more than $220 million for fees charged to 170,000 customers from eight banks.

“This is a hard-fought contest, and a complex argument dealing with principles of English law stretching as far back as the 12th Century,” Watson said.

“We have a strong case to make at the [High Court] and we intend to continue taking it up to the banks to help hundreds of thousands of everyday Australians get back money we believe they shouldn’t have had to pay,” Watson said.

The case will come down to an argument about the development and application of the doctrine of penalties.

“We say the law should focus on the reality of the fees charged rather than allowing the banks to hide behind complex wording to avoid the doctrine of penalties,” Watson said.

The class actions are being funded by IMF (Australia) Ltd, on a no-win no-fee basis for participants.

IMF (Australia) Investment Manager, James Middleweek, said the class action was an important exercise in giving people an opportunity to take on the banks.

"At least one bank chief executive has already admitted that these charges were completely inappropriate. Yet two years after we started, not one bank has done anything to compensate customers. Redress is long overdue.”

 

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bank fees class action goes to High Court
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...