Tamsyn Parker

Tamsyn Parker is the NZ Herald's Money Editor

Bank lawsuit due in court next month

New Zealand barrister Andrew Hooker claims banks are charging illegal and unfair fees on defaults. Photo / Sarah Ivey
New Zealand barrister Andrew Hooker claims banks are charging illegal and unfair fees on defaults. Photo / Sarah Ivey

A billion dollar lawsuit against the banks won't be filed with the courts until next month.

Andrew Hooker, the Auckland barrister behind the Fair Plays on Fees campaign targeting bank default fees said he had hoped to file proceedings by the end of May.

But yesterday he said he was still finalising the documents.

"We were hoping to file in May, but that's not going to happen now. It will be in the first part of June, definitely."

Hooker, backed by Australian law firm Slater & Gordon and an Australian litigation funding called Litigation Lending Services, announced the plan to take legal action back in March.

At the time Hooker said all New Zealand banks were in its sights but it would primarily target the large Australian-owned banks ANZ, ASB, BNZ and Westpac as well as state-owned Kiwibank.

More than 22,000 Kiwis have signed up for the legal case which will target honour and dishonour fees charged over the last six years.

- NZ Herald

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