Class action against ASB and ANZ wins 'opt out' status

Staff reporters
Mon, 01 Aug 2022

The class action targeting ANZ Bank NZ and ASB scored a major win in the high court at Auckland, which has ruled that the proceedings will be an “opt out” representative case, meaning all affected customers will be included unless they expressly opt out.The class action, which is being jointly financed by New Zealand-based LPF and Australia-based litigation funder CASL, has estimated there are more than 150,000 customers affected in total.The action against ASB is by four plaintiffs representing customers who had a home loan or pers...

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