ASB fighting 'opt-out' class action lawsuit in court of appeal

ASB fighting 'opt-out' class action lawsuit in court of appeal
(Image: NZME)
Greg Hurrell
ASB Bank was in the court of appeal on Tuesday, to try and prevent a class action lawsuit against both it and ANZ Bank NZ from covering all affected customers whether they ask to be or not.The main case, which is yet to go to trial, centres on claimed breaches of the Credit Contracts and Consumer Finance Act 2003 (CCCFA) by the banks when changing the conditions of their consumer loans.In a July 29, 2022, high court ruling, Justice Geoffrey Venning agreed that representatives of both ASB and ANZ customers were able to bring class action cases a...

More Law & Regulation

High court adds $107k to NZME's puzzle toy fine
Markets

High court adds $107k to NZME's puzzle toy fine

High court agrees original fine was "manifestly inadequate".

Staff reporters 01 Dec 2023
Consumer NZ takes Z Energy to court over 'misleading' climate action claims
Law & Regulation

Consumer NZ takes Z Energy to court over 'misleading' climate action claims

Z Energy's claims it is on track to reduce emissions 'don't stack up'.

Greg Hurrell 30 Nov 2023
Liquidation likely for timber processor
Primary Sector

Liquidation likely for timber processor

However, MBIE says it wasn't in default of its loan.

Riley Kennedy 30 Nov 2023