Tag Archives: penalties

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 […]

Speak of the devil: the High Court rules on penalties

Only the other day, Sinclair Davidson and I were debating the nature of bank fees and whether they were penalties. In that post, I noted the case of Andrews v Australian and New Zealand Banking Group [2011] FCA 1376 where customers of the ANZ were suing it in relation to a variety of fees the […]

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 […]