---
title: "High Court Issues Summary Judgement Against ANZ In Class Action Proceedings"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285156345.md"
description: "ANZ New Zealand (ANZ.AX, AN3PG.AX) has been awarded summary judgement against it by the High Court of New Zealand in a class action related to the Credit Contracts and Consumer Finance Act 2003. The court found the company in breach of section 22 of the Act, leading to a potential liability of approximately NZ$125 million. The representative plaintiffs are entitled to NZ$32,728.42 for costs of borrowing during the breach. ANZ is considering its next steps, including an appeal."
datetime: "2026-05-05T05:10:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285156345.md)
  - [en](https://longbridge.com/en/news/285156345.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285156345.md)
generator: "portal-rs"
---

# High Court Issues Summary Judgement Against ANZ In Class Action Proceedings

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ANZ New Zealand (ANZ.AX,AN3PG.AX) announced that the High Court of New Zealand awarded summary judgement against the company in relation to the New Zealand Credit Contracts and Consumer Finance Act 2003 class action proceedings served on the company in September 2021. The Court found that the company breached section 22 of the Act. The company is considering next steps, including appeal. 

The representative plaintiffs are entitled to payment of the costs of borrowing for the period of breach, being NZ$32,728.42. The company's estimate of its maximum potential liability for costs of borrowing arising from this decision is approximately NZ$125 million. 

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**