Bank Charges (4)

Suadela's profile

Suadela
Posted by Suadela on Tue 28 Oct 08, 8:57 AM

Ok this got me thinking last night on the walk home, with the appeal coming up on the bank charge test case. Now last time there was a degree of economic stability when the High Court found in the faviour of the consumer and against the banks.

The next stop for this case is the Court Of Appeal, now this got me thinking, some times judgments made in cases reflect the curent social status of the country. Now if the Court of Appeal where to uphold the decission of the High Court this could be potentialy very bad for the banks and the economy as a whole. If the banks already strugeling with finances world wide where sudenly to have to pay back billions of pounds it could see the colapse of some more bank's. Though on the other side of this the billions of pounds paid back could kick start the economy as a lot of people would have some disposable income.

So its one that 18 months ago you could see the Court of Appeal upholding the decission, but now i think it is likely that it could go eaither way. Which i think is 99% likely to see an appeal made by whom ever looses the case to the House of Lords.

If this was to happen it will drag on this situation for a lot longer, as the House of Lords dont really work at any decent pace when it comes to hearing cases.

Replies

28 Oct 08, 9:04 AM
pinklipgloss
UK(CF), 18 mths

Banks are daft my bank man told me my overdraft was a limit and not a target i had to beat each month, silly man
Wolfeeh says : Stop hitting it, it's only little !!!

28 Oct 08, 12:57 PM
janie66
UK(G), 5 yrs
I was kind of thinking the ruling was in favour of most of the banks - Natwest being the exception ..It'll be interesting to watch especially in the current climate.
http://news.bbc.co.uk/1/hi/business/7659861.stm

29 Oct 08, 7:39 PM
CmdrBond
UK, 7 yrs
Y!
Which ever side loses this appeal, will take it to the European Court to get a judgment. Both sides have stated this on several occasions so its a little early to be hoping to get a de-facto judgment. I guess its just a case of suck it and see for now.
"Of course life's a Bitch. If it were easy it'd be a slut!"
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31 Oct 08, 4:33 PM
Suadela
UK(M), 13 mths

CmdrBond wrote:
Which ever side loses this appeal, will take it to the European Court to get a judgment. Both sides have stated this on several occasions so its a little early to be hoping to get a de-facto judgment. I guess its just a case of suck it and see for now.
The furthest it can actualy only go is the House of Lords, the European Court of Human Rights is totaly irelivent in this case, and the European Courts Of Justice, is only actualy there as a referance court, it interperates British Law inline with EU law and tells the british courts how things should be done.
Though the Court of Appeal can, and has the power, to stop this ever getting to the House of Lords as they have to grant leave to appeal.
Some people say i am evil, i have no idea why they think that.


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