Next Stage Of Banks Charge Case Should Be Heard Before 2009
According to Justice Andrew Smith, the presiding judge in the recent High Court test case into bank charges, the delay in the next stage of the proceedings resulting from an appeal against the initial ruling from banks should not be as severe as some officials have predicted
Recent report have indicated that the appeal from banks could result in the next stage being delayed by a year or more, but the judge has said that the delay will be far less serious, and the next stage should be heard before the end of this year even with the appeal.
The appeal from the banks is expected to be heard in autumn, but officials state that if either side decide to take the matter to the House of Lords then the delay could be more serious and could easily spill into next year. In the meantime, pending charge claims in courts remain frozen, as they have been since last summer.
One official said: ‘The judge has indicated he wants the OFT’s investigation to be wrapped up quickly, and that is a very positive move for consumers waiting in the wings. But the banks are appealing and it will be some time before a judgement is issued in that hearing and so consumers are still some way away from getting their money back.’