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12 November 2008

Test case appeal finishes but another hearing due in December

The appeal by the banks against the initial judgment in the test case was heard in late October/early November with virtually no media coverage. We now await the result of that appeal – probably in months rather than weeks. Meanwhile, the banks and the OFT return to the High Court on 9 December supposedly to clear up some loose ends from the other issues that were considered in the second hearing. Confused? Well you are meant to be – that is the main purpose of this exercise – confuse everybody so that, when it is all over, nobody will really understand what went on and what the final result was.

The OFT has published, for what it is worth, another updated Q&A on the test case. Can be downloaded from OFT test case Q&A.

Published and promoted by Bob Egerton, TR2 4RS