Full Court Of The Federal Court Of Australia Rejects ACCC Appeal Against Bank

5 July 2004

The Full Court of the Federal Court of Australia today dismissed an appeal lodged by the Australian Competition and Consumer Commission (ACCC) against the Federal Court’s previous decision in relation to allegations the ACCC made against the Commonwealth Bank of Australia.

The Court dismissed the ACCC appeal, which was instigated after the Federal Court rejected ACCC allegations that the Bank had acted in an unconscionable manner in providing finance to customers Mr and Mrs Gleeson for the purchase of an investment property.

Costs were also awarded in favour of the Bank against the ACCC.

The Commonwealth Bank today said that it was pleased that the appeal had been dismissed.