when and how will the charges situation end

mikeandrach_2

i know nobody has the definitive answer, but looking for peoples informed views and opinions.

i know the latest case is due to be heard in october, but lets face it, the banks will probably appeal.

anyone got any views? how long will the process take from then worst case scenario?

any informed views as to which way the case will eventually swing? i thought it looked inevitable charges would be refunded in the past, now i am not so certain, what do others think?

esmerellda

October will be the judgment of the house of lords appeal hearing. That will tell us what will happen next - they may be referred to the european courts of justice yet, so then even if expetidited might be a couple more years. HOPEFULLY the lords will just make a decision and then its down to the OFT to put forward its opinion, ask the banks to comply, and if they refuse take the banks to court for an injunction to enforce compliance. (so possibly middle next year)

I agree that its more uncertain now than it was before the HOL appeal hearing.

flam147

esmerellda wrote: »

October will be the judgment of the house of lords appeal hearing. That will tell us what will happen next - they may be referred to the european courts of justice yet, so then even if expetidited might be a couple more years. HOPEFULLY the lords will just make a decision and then its down to the OFT to put forward its opinion, ask the banks to comply, and if they refuse take the banks to court for an injunction to enforce compliance. (so possibly middle next year)

I agree that its more uncertain now than it was before the HOL appeal hearing.

In the unlikely event that the ruling goes in favour of the banks would the claiments be able to take the banks to the european courts?

natweststaffmember

flam147 wrote: »

In the unlikely event that the ruling goes in favour of the banks would the claiments be able to take the banks to the european courts?

I would say NO. However just to add to Amethyst(see her signature) there is a process of fast tracking it which would take 3 to 6 months which was mentioned by Jonathan Crow, OFT QC, in the HoL appeal.

Nathan_Spleen

flam147 wrote: »

In the unlikely event that the ruling goes in favour of the banks would the claiments be able to take the banks to the european courts?

Only the HoLs (or the new Supreme Court as it will be) can decide if it goes to Europe. It is more likely that a reference to ECJ would be made in the event that the Law Lords didn't come to a decision, rather than one side winning.

The final words of Lord Phillips in the HoLs appeal were ''The Committee is grateful to counsel for their submissions and, subject to the possibility of
a reference to Europe, will report their opinions to the House in due course.''