Tag Archives: banks

High Court says that bank fees may be penalties

In Andrews v Australia and New Zealand Banking Group Ltd [2012] HCA 30, the Australian High Court decided that bank fees may potentially be penalties, notwithstanding the fact that the trigger for the imposition of most of the fees was not a breach of contract. I’ve already outlined the law against penalties in some detail […]

Yes, the law really does abhor a penalty

Sinclair Davidson at Catallaxy has written a post on excessive fees charged by banks, and said this: [The argument that the fees were designed purely to enrich the bank] is a bit hard to take. When you begin a banking relationship you normally sign a contract that includes the fees that you’ll pay for various […]

Repossessing houses with tenants

Once upon a time, I was a lawyer who acted for mortgagees. I used to repossess houses and call on guarantees. Sometimes I’d get mortgagors calling me in distress, saying, “How can the bank take my property? It belongs to me.” Sigh. Well, yes you do own it – but it is subject to the […]

Contract damages – the rhetoric-reality gap

In my chosen area of study, much ink is spilled on the topic of whether contract damages merely compensate for loss, or whether there are other exceptional measures of damages which may be employed (gain-based damages of various types, punitive damages etc). Still, there are some things we agree on. If you look in a […]